What are the responsibilities and job description for the Business Development Officer position at PromiseOne Bank?
Job Overview
The Business Development Officer is responsible for developing new business, assist underwriting, structuring and the closing of loans, as well as maintaining and servicing an existing portfolio. This position builds market position by locating, developing, defining, negotiating, and closing business relationships.
Responsibilities
- Locates or proposes potential business deals by contacting potential partners; discovering and exploring opportunities.
- Aware of and reporting suspicious activity and familiar with the Bank’s BSA/OFAC/AML related policies and procedures and how those affect the individual employee’s job responsibilities.
- Screens potential business deals by analyzing market strategies, deal requirements, potential, and financials; evaluating options; resolving internal priorities; recommending equity investments.
- Closes new business deals by coordinating requirements; developing and negotiating contracts; integrating contract requirements with business operations.
- Protects organization's value by keeping information confidential.
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Enhances organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
- Provides applicants with information regarding the loan application process.
- Pre-qualifies potential applicants by analyzing financial background.
- Negotiate terms, structure loan financing based on risk considerations and present credits for approval to appropriate levels of authority with the bank as required
- Follows up on processing the loan by obtaining additional applicant information if necessary
- Maintains communications between the lender and borrower
- Source, develop and assist underwrite new loan requests for new and existing customers
- Maximize bank profitability through appropriate pricing of new loan originations, fee income and selling of all bank products and services
- Resolves any customer problems in an expeditious and tactful manner
- Provide Service and Returns that exceeds the Expectations of our Customers and Shareholders
- Reviews and reports complaints received from customers and recommends corrective action to management
- Perform other duties as assigned
Qualifications
- Bachelor’s degree in finance, business or economics
- Formal credit training
- Minimum of 3 years of lending experience
- Product knowledge
- Fluency in the English and Korean language
- Bank regulation knowledge
- Knowledgeable of the SBA and Commercial Lending Market and products
- Strong business development and sales skills
- Thorough understanding of credit risk analysis, credit policies, and procedures
- Ability to properly evaluate, structure, price and successfully compete for new business
- Strong Communication and Presentation Skills
- Strong negotiation skills; able to influence both internal and external stakeholders and prioritize
- Must be able to build and maintain internal and external relationships to deliver high levels of service
- Detail oriented with strong organizational skills, and ability to manage multiple tasks and priorities at once
- Ability to manage time and multiple commitments/projects simultaneously
- Computer Literacy
Job Type: Full-time
Pay: From $90,000.00 per year
Benefits:
- 401(k) matching
- Dental insurance
- Health insurance
- Paid time off
- Vision insurance
Schedule:
- Monday to Friday
Work Location: Remote
Salary : $90,000