About Setel:
The Future of Mobility
Introduced in July 2018, Setel is a mobile platform that aims to delight customers by innovating for better, inclusive mobility. Setel serves customers across Malaysia by powering one app as the constant companion to ease motorists’ journey across fueling, parking, EV charging, motor insurance, road tax, auto assistance, general purchases, and more across an ecosystem of PETRONAS petrol stations, retail partners, and online merchants.
Role Purpose:
The Senior Lead, Commercial Strategy (Fuel) leads the commercial strategy, financial modelling, business case development, investment evaluation, and strategic commercial planning for Setel’s fuel business by evaluating growth opportunities, structuring commercially sound partnerships, and ensuring all initiatives are supported by robust, decision-ready analysis to drive sustainable revenue performance.
The role provides structured commercial insight to support investment decisions, monitors
performance against key revenue and margin drivers, and provides strategic direction on growth prioritisation, commercial sustainability, and long-term portfolio performance while ensuring that growth initiatives are aligned with the operational realities and long-term commercial objectives of the platform’s core business.
In this role you will:
- Own the commercial strategy, modelling, and business case governance function for Setel's fuel business, the platform's core revenue engine, with full accountability for the analytical rigour behind every growth initiative, partnership decision, and investment appraisal in this
- Lead the development and governance of the commercial models that underpin the fuel business P&L, including fuel station throughput economics,, transaction volume drivers, merchant margin structures, and fuel merchant margin structures.
- Lead strategic evaluation and prioritisation of revenue uplift opportunities within the fuel segment including new station partnerships, loyalty programme design, campaign economics, and pricing strategy, producing the business case for each.
- Own commercial terms and strategic deal structuring for fuel partnerships and merchant agreements, ensuring every arrangement Setel enters is commercially defensible and structured for growth.
- Lead pivot and scenario planning for the fuel business when volume trends, competitive dynamics, or partner performance require a strategic response, providing a clear and evidence-based recommendation
- Produce investment appraisals and business cases for management and Board approval on all material fuel business initiatives or new business opportunities,, translating financial analysis into decision-ready narratives.
- Work across Operations, Account Management, and Product to ensure commercial assumptions are grounded in operational reality and that revenue plans are achievable.
You're a great fit if you have:
- Bachelor’s degree in Business, Finance, Economics, or related discipline.
- MBA or equivalent is an advantage
- Minimum 8-12 years of experience in commercial strategy, commercial finance, investment analysis, or consulting.
- Experience in business case development, financial modelling, and revenue analysis.
- Exposure to fuel retail, merchant networks, or platform-based business models preferred.
- Experience supporting senior leadership and/or Board-level decision-making
Technical/Functional :
- Commercial and financial modelling with strong command of unit economics, margin analysis, and P&L drivers in a fuel retail or merchant network context.
- Business case development and investment appraisal for a high-revenue, operationally complex business line.
- Pricing strategy, campaign economics, and loyalty programme commercial design.
- Partnership and deal structuring in a B2B and merchant network context.
- Scenario modelling and sensitivity analysis across volume, margin, and partner mix assumptions.
- Understanding of fuel retail economics, station network dynamics, and corporate account commercial structures
What Makes Working With Us Awesome
- Our people and culture: You will get to work with awesome and friendly colleagues to whom you can expect to collaborate well to deliver your work. Empowerment is given and you will get a lot of opportunities for peer-learning.
- Availability of tools and applications: You will be provided with different tools to facilitate your work. Automate your work whenever possible so that you can focus on delivering impact for your role.
- Development focused: Your learning and growth matters most for us. We are people centric and always ready to help our people to define what they want to make an impact on and craft their learning plan accordingly.
Cool Perks/Benefits
- Hybrid working arrangement; Flexible working hours.
- Relax and unwind at the leisure area with video games, board games, books, and more.
- Wear your favourite jeans, or any cool OOTD so that you can work comfortably (in style).
- Coffee, tea, or snacks are available for consumption at the pantry. Because you’ll be happier with a full tummy.
- A healthy body leads to a brilliant mind. Let’s get moving with the inter-company sports team.
- There will be workshops, talent shows, sport activities, and other events for sharing and bonding.
Personal Data Protection
Setel Ventures Sdn Bhd (“Setel”, “we”, “our” “us”) is committed to protecting and respecting your privacy. This Setel privacy statement (“Privacy Statement”) explains what personal data we collect about you, when and why we collect it, how we use it, the conditions under which we may disclose it to others, your rights to your personal data, and how we keep it secure. This Privacy Statement covers both our online and offline collection activities, including personal data that we collect through online platforms such as websites, applications, third-party social networks or our online and physical events, or through other third parties that we work with. Please read this Privacy Statement carefully to understand our views and practices regarding your personal data.
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