Business Banking Officer

Description

The Business Banking Officer is principally responsible for raising revenue and expanding business opportunities that allow the organization to achieve and sustain its mission by cultivating business prospects into customer relationships and increases market coverage in our established market areas and targeted surrounding areas.

Proactively contacts and nurtures self-sourced prospects and assigned leads to determine viable current and future sales potential of deposit and cash management products and services. Originates deposit accounts along with selling cash management services to prospects while determining and generating cross-sales opportunities. Works towards achieving established goals using business acumen.

ESSENTIAL FUNCTIONS:

Business Development Strategy

• Develops and regularly updates a comprehensive business development plan, with targeted goals, objectives, methods, quantifiable outcomes and timelines to achieve agency sustainability and annual budget goals.

• Develop strategies for approaching and acquiring new clients, including but not limited to networking, cold calling and obtaining referrals from existing clients. Represent the bank by hosting information sessions and participating in bank and community events

• Strategizes to access market position and opportunities. Monitors plan against results to ensure completion of goals and objectives.

Client Acquisition & Business Growth:

· Identify and target potential business clients and opportunities within the assigned market or territory, including startups, Small/Medium businesses and larger commercial enterprises.

· Generate new business by offering tailored banking products such as business loans, credit lines, cash management, and merchant services.

· Makes in person sales calls on prospect and existing businesses. Compiles necessary data and information for sales call and presentation. Answers questions and follows up on requests for information as needed.

Client Relationship Management:

· Develop and maintain strong relationships with new and existing business clients. Enriches client business details in customer relationship management database, (i.e.: contact names, phone numbers, email addresses, business models, etc. and keeps all customer interactions logged in the CRM.)

· Understand clients' financial needs and provide appropriate banking solutions, including credit, deposit, and cash management products and/or recommending relevant banking products and services.

· Periodically meet with clients to assess their business needs, offering guidance and solutions that support their growth.

Financial Analysis Solutions and Consultation:

· Requests and gathers from prospects all required documentation needed to accurately determine the best cash management solution for sales proposal and establish accounts

· Analyze clients’ financial statements and banking history to recommend appropriate banking products including loans, deposit accounts, credit lines, and cash management services.

· Utilize the company Cash Management pricing tool to estimate minimum balance to offset cash management servicing fees.

· Provide advice and consultation on cash flow management, business planning, and other financial matters.

· Develop personalized banking strategies to help clients achieve their business goals & proactively anticipate and address potential issues to maintain long-term client relationships.

Sales and Target Achievement:

· Meet or exceed monthly, quarterly, and annual sales targets for business development, including loans, deposits, and other banking products.

· Drive revenue generation through effective cross-selling and up-selling of products to current and prospective clients.

· Track performance and report progress toward targets, making adjustments to strategies as necessary.

Market Analysis & Competitor Research:

· Conduct market research to identify trends, customer needs, and opportunities for new business.

· Stay informed on industry trends, competitor offerings, and economic conditions that may impact the banking market.

· Provide feedback and recommendations to management based on market research to enhance product offerings and client engagement.

Collaboration with Internal Teams:

· Work closely with lenders, branch staff, credit officers, and other departments to ensure seamless service delivery.

· Collaborate with other departments (e.g. operations, legal, and risk management) to ensure the smooth processing of business banking transactions.

· Coordinate with the marketing team to develop and implement campaigns aimed at attracting new business clients.

Compliance & Regulatory Adherence:

· Identify and mitigate any risks associated with clients’ banking activities.

· Gathers data and prepares reports for management, audits and other personnel.

· Maintains knowledge of and ensures compliance with the Bank Secrecy Act (BSA), Anti- Money Laundering (AML), Customer Identification Program (CIP), and Office of Foreign Assets Control (OFAC) regulatory requirements. Ensures completion of BSA related training in a timely manner and that all BSA procedures are followed.

· Ensure adherence to all regulatory guidelines, internal policies, and banking laws. Reports compliance related issues; identifies and reports potential suspicious activity.

Requirements

Education:

· Bachelor’s degree in Business, Finance, Economics, or a related field.

· Professional certifications in banking or finance (e.g., Certified Business Banker, Financial Planning) are a plus.

Experience:

· 2-5 years of experience in banking or financial services, preferably in business or commercial banking.

· 3 years proven experience in Business Development & 2 years proven sales experience with a proven history of meeting and/or exceeding sales goal targets.

· Experience in credit analysis, business lending, or financial consulting is desirable.

· Demonstrated success leading business strategy development with business-to-business partnering with experience in building commercial relationships to help deliver improved service and innovation to the customer.

· Working knowledge of; cash management, electronic banking, lending, and business banking products and related services.

· Expertise in team member excellence with strong interpersonal skills, including the demonstrated ability to work effectively with members of organizational boards, colleagues, business partners, prospects, and community stakeholders.