Business Development Officer

MD - Rockville

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We are currently seeking a Business Development Officer (BDO) to join our winning team. Summarily, the BDO will be responsible for providing support to the entire Business Development Team (Client) and Branches, including but not limited to:
Prospecting new individual accounts

  • Prospecting new business accounts
  • Identifying specific needs of members and aligning solutions with LFCU's offerings
  • Acquiring new forms of eligibility by bringing in new Select Employee Groups (SEGS)
  • Promoting and selling LFCU's loan, deposit and savings products
  • Assisting in the Client's efforts to increase product utilization of new and existing members
  • Working with assigned branches to meet sales targets by promoting cross-sell of existing products and prospecting for new opportunities around branch locations
  • Actively participate and be the face of the credit union for all business development events, such as community events, networking events, and other credit union sponsored events

More specifically, the BDO will:

  • Bring in new business to the credit union based on overall goals, which can include, but is not limited to new membership (accounts), direct deposit, checking accounts, loans, cross-selling all LFCU's products and/or services, acquiring new forms of eligibility by bringing in new Select Employee Groups (SEGs), increasing membership utilization (cross-sell), and increasing the loan portfolio to ensure the credit union meets its goals within the guidelines set.
  • Organize and conduct membership retention programs among existing SEGs, community charters, and existing membership. Maintain continual contact and build strong relationships with SEG representatives and community charter groups through periodic contact channels (phone calls, letters/e-mail and personal visits). Ensure SEG representatives are supplied with credit union brochures, forms, and other related materials.
  • Actively prospect for new business accounts and services, including business checking, remote deposit, ach services, payroll services, business lines of credit and loans, and other business products offered by the credit union.
  • Develop, monitor, and adapt new techniques to achieve membership growth, product penetration, and profitability goals in accordance with the credit union's business plan and strategic initiatives.
  • Continuously participate in periodic outreach programs to maintain Lafayette Federal's visibility with existing members and promote utilization of the credit union's products and services.
  • Maintain a strong community presence and build brand awareness through on-site business events, networking, and other business outreach activities.
  • Remain abreast of banking industry member service best practices for developing SEGs.
  • Develop promotional strategies to increase utilization of credit union products and services among existing members; work with the Marketing Department to develop promotional materials for distribution to members and employee groups.
  • Make recommendations to VP of Business Development regarding possible new activities designed to increase membership and product/service/delivery channel usage.


Requirements

Qualified candidates will have the following:

  • A positive Credit Standing

Experience:

  • Two years to five years of similar or related experience.

Education:

  • A college degree or completion of a specialized course of study at a business or trade school.

Interpersonal Skills:

  • A significant level of trust and diplomacy is required, in addition to normal courtesy and tact. Work involves extensive personal contact with others and is usually of a personal or sensitive nature. Work may involve motivating, influencing or training others. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas or services to others.

Other skills

  • Familiarity with a variety of the financial industry's concepts, practices, and procedures. Relies on extensive experience and judgment to plan and accomplish goals.
  • Excellent analytical skills, people skills and self-direction
  • Excellent communication and interpersonal skills
  • Adequate knowledge of financial products and services

Physical Requirements:

  • This position requires manual dexterity, the ability to lift files and open cabinets.
  • This position requires bending, stooping or standing as necessary.

Work Environment:

  • This job operates in a clerical office setting. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. Office environment with job duties conducted via telephone, face to face meetings, and on the computer.

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