Bank of America Business Development Officer - SBA – Pasadena/LA in Los Angeles, California
Business Development Officer - SBA – Pasadena/LA
The Business Development Officer (BDO) is responsible for cultivating relationships with prospects and generating new SBA clients for Bank of America Merrill Lynch. The Sr. BDO prospects and networks in local markets to identify and develop new SBA client relationships with operating companies for the bank. The Sr. BDO maintains and builds a network of prospects by working with internal and external centers of influence, commercial referral sources, and prospect lists provided by marketing intelligence. Once a relationship is established and the initial transaction is complete, the Sr. BDO transfers the client to a Business Banking Client Manager or Relationship Manager to deepen and expand the long term banking relationship, allowing the Sr. BDO to focus on primary role to acquire new relationships. The Sr. BDO's primary focus includes identifying, marketing and selling all SBA loan products.
Create and execute an annual business plan to grow the client portfolio through new client acquisition, with focus on profitable revenue growth and the overall financial plan for the business
Acquire new client relationships; find business relationships with operating companies
Develop and maintain a referral and prospecting network with customers/clients, peers, Enterprise Business Specialists/Merrill Lynch financial advisors, and other external centers of influence, spending approximately 75% of time in the field
Identify opportunities to solve client problems through disciplined, high-quality contact activities, fully leveraging available marketing resources and tools
Analyze prospect needs and design solutions, working with internal product partners and client team members, that match those needs and maximize Bank of America profitability and shareholder value
Complete required documentation to support products and services offered to prospect
Expertly handle and negotiate the client relationships and consummate the transaction arriving at agreements satisfactory to all parties both internally and externally to the bank
Work with client manager/relationship manager and client team to effectively transition new client for on-going relationship management
Qualifications, Skills, Capabilities
Resourceful, consistently and effectively networks within the community and centers of influence
Applies business analysis expertise, financial analysis skills, and applies product , industry and market knowledge
Builds relationships and operates as a trusted partner; knows how to navigate the organization and leverage internal teammates
Communicates effectively, both orally and in writing
Demonstrates sales ability; influences with impact
Develops new client relationships and new business
Demonstrates initiative and manages multiple priorities
Adaptable, resilient, flexible, operates effectively in competitive situations
Undergraduate degree in business, finance or economics preferred.
Completion of formal credit training strongly preferred.
Familiarity with sales force automation, smart technology, Microsoft Office, a plus.
Should have an existing COI network and knowledge in the market with proven track record of prospecting new business and exceptional sales skills
3 – 5 years-experience in commercial banking and/or business lending
Critical Success Measures
- Closed loan volume, revenue. margins
Posting Date : 10/10/2017
Los Angeles, CA, BANK OF AMERICA PLAZA, 333 S HOPE ST,
Pasadena, CA, 800 E COLORADO BLVD (CA9810),
- United States
Travel : Yes, 10% of the time
Full / Part-time : Full time
Hours Per Week : 40
Shift : 1st shift
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