VP; Business Development Officer
Overview
The VP; Business Development Officer (BDO) is responsible for business development and managing portfolios comprised of deposits and commercial loans.
Responsibilities
This position is responsible for generating a business clientele, expanding revenues from existing clients through account additions and other services. This position requires an annual production of Loans in a range of $10M to $25 Million. BDO is assigned to a specific branch location depending on market expertise and reports directly to Regional Managers in the Branch Administration Division. The Business Development Officer must also be knowledgeable in all related BSA/AML and CIP customer requirements/rules.
- Prospect and meet with potential customers outside of the Bank’s office to sell loan products and services.
- Build and manage a pipeline of prospective clients through cold calls, emails, referrals, in-person visits and community events.
- Conduct on-site visits to assess customer needs.
- Conduct regular reviews of client portfolios to identify cross-selling opportunities.
- Manage corporate loan portfolio, depository accounts, and customers' financial needs including related depository relationships to achieve assigned sales targets.
- Increase value of accounts managed in deposit and loan portfolios.
- Represent the bank at local events and networking functions to enhance brand visibility.
- Develop partnerships with local businesses and organizations.
- Monitor monthly portfolio reports and missing document reports. Conduct financial needs assessments.
- Prepare commercial loans (new & renewals) and commitment letters.
- Approve NSF/UNC.
- Complete required data for KYC, BSA, Compliance, and e-Learning.
- Adhere to bank policies, procedures, and regulations, particularly with account information and documentation.
- Manage other items associated with customers' requests.
Qualifications
Education/Experience:
Requirements
- Associate’s Degree in Business field such as Accounting or Finance.
- 7+ years of banking experience in products sales and lending, specifically related to attracting and servicing customers with an established portfolio of banking relationships.
- Must be able to travel and visit prospective new clients within a designated area in order to increase depository and loan production/sales goals.
Combination of education and experience will be considered.
Skills and competencies
- Must be knowledgeable of internal bank operations (wire transfers, debits/credits and loan payments) and bank products to cross sell.
- Must possess excellent organizational, interpersonal, verbal and written communication skills
- Must be oriented towards providing excellent customer service.
- Strong sales and negotiation skills with a proven track record of meeting targets.
- Must have leadership abilities to lead projects and manage people indirectly; ability to lead and drive initiatives; ability to manage multiple tasks and projects.
- Ability to work independently and as part of a team.
- Computer knowledge in MS Office Software (e.g. Excel, Word, Power Point and Outlook).
- Knowledge of banking laws and applicable compliance regulations and on the completion of Know Your Customer (KYC).
Preferences
- Bachelor’s Degree or equivalent in a related field of study such as Accounting or Finance.
- 5+ years of banking related experience in product sales and lending with an established portfolio of banking relationships.
Licenses/Certifications
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- None