Job Description: Business Development Officer
Department: Lending Department
Manager: SBA Lending Department Manager
Location:
- Virginia (VA): Annandale/Centreville area (Based at the branch office)
- Texas (TX): Houston area (Based at the branch office)
- Florida (FL): 100% remote (must be located within the Florida area)
- Washington (WA): Seattle area (100% remote, must be located within the Seattle area)
Position Overview:
The Business Development Officer (BDO) is responsible for developing new business, assisting with underwriting, structuring, and closing loans, and maintaining and servicing an existing portfolio. This role plays a critical part in enhancing market position by identifying, negotiating, and closing business relationships.
Essential Duties:
(Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.)
- Locate and propose potential business deals by reaching out to potential partners and exploring opportunities.
- Be aware of and report suspicious activity, and understand the relevant policies and procedures.
- Screen potential business deals by analyzing market strategies, financials, and deal requirements, evaluating options, and resolving internal priorities.
- Close new business deals by coordinating requirements, developing and negotiating contracts, and integrating contract terms with business operations.
- Safeguard the organization's value by maintaining confidentiality.
- Continuously improve job knowledge through educational opportunities, reading professional publications, networking, and participating in professional organizations.
- Take ownership of new tasks, explore opportunities, and add value to job accomplishments.
- Provide applicants with detailed information regarding the loan application process.
- Pre-qualify potential applicants by analyzing their financial background.
- Negotiate loan terms, structure financing based on risk considerations, and present credits for approval to appropriate levels of authority.
- Follow up on loan processing by obtaining additional information from applicants as needed.
- Maintain open communication between lenders and borrowers.
- Source, develop, and assist in underwriting new loan requests for both new and existing customers.
- Maximize profitability through appropriate loan pricing, fee income, and the promotion of relevant products and services.
- Resolve customer issues promptly and tactfully.
- Ensure service and returns exceed the expectations of customers and stakeholders.
- Review and report customer complaints, recommending corrective actions to management.
- Perform other duties as assigned.
Competency Requirements:
To perform the job successfully, an individual should demonstrate the following competencies:
- Time and Priority Management: Effectively manage time and others' priorities, ensuring tasks are completed efficiently.
- Listening and Organizing: Understand and analyze information to make informed decisions, organize ideas, and respond appropriately.
- Communication Proficiency: Strong writing and verbal communication skills for effective interaction.
- Financial Management: Review and analyze financial statements and credit reports to ensure adequacy and safe qualification.
- Customer/Client Focus: Understand customers needs and offer appropriate solutions.
- Problem Identification and Solution: Identify and eliminate barriers to achieving goals using systematic procedures.
- Ethics: Treat others with respect, keep commitments, inspire trust, and work with integrity.
- Professionalism: Handle situations tactfully, manage pressure, and maintain responsibility for actions.
- Dependability: Follow instructions, respond to management direction, and meet commitments in a timely manner.
Education, Certification, and Experience Requirements:
- Bachelors degree in Finance, Business, or Economics.
- Formal credit training.
- Minimum of 3 years of lending experience.
- Product knowledge in SBA and commercial lending.
- Fluency in English.
- Knowledge of bank regulations.
Skills:
- Strong knowledge of SBA and Commercial Lending market and products.
- Business development and sales skills.
- In-depth understanding of credit risk analysis, policies, and procedures.
- Ability to structure, price, and compete for new business.
- Excellent communication and presentation skills.
- Strong negotiation skills with the ability to influence stakeholders.
- Ability to build and maintain relationships to deliver high service levels.
- Detail-oriented with excellent organizational skills.
- Computer literacy.
Benefits:
- Medical/Vision/Dental: 100% coverage for employee, 50% for dependents
- Life, AD&D, and LTD Insurance coverage provided
- Paid Time Off (PTO): 2 weeks vacation per year, 8 sick days per year
- 401(k): Up to 6% match after 3 months of employment
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