Business Development Manager

Core Responsibilities

The Business Development Manager’s performance in the main accountabilities areas listed below, when collectively performed well, will lead to success in this position.

• The Business Development Manager is expected to develop the origination volume potential from brokers in their assigned geographic areas by generating new business and cultivating increased share of business from existing broker relationships.
• In addition to achieving the target origination volume, the Business Development Manager will be evaluated based on efficiency metrics assigned by the MIBD such as funded volume as a percentage of submissions and number of outbound calls and contacts made.
• The Business Development Manager will dedicate time to all phases of the sales relationship cycle — from prospecting through to the business development phases — employing a variety of actions which include but are not limited to:

• Continually sourcing broker names from external and internal resources.
• Scrubbing sourced broker names to produce Business Development Manager’s list of prospects as defined and amended by the MIBD from time to time.
• Maintaining the prospects list, including making revisions necessitated by, for example, re‑alignment of geographic areas or Key Accounts and changes to sales staff or brokers/agents/brokerages.
• Pro‑actively cold contacting brokers to establish new relationships and routinely contacting warm leads throughout the prospecting cycle.
• Onboarding brokers: establishing broker agreements where necessary, making welcome calls for brokers who are dealing with the Bank for the first time, collecting feedback from brokers regarding the Business Development Manager’s and the Bank’s overall service levels.
• Tracking prospecting activities, in order to monitor and report on the Business Development Manager’s progress, such as how many new broker agreements were completed and approved, how many "new" brokers were contacted, what was discussed and if any deals were submitted.

• Conducting training and product awareness sessions primarily through webinars and, from time to time, in person when warranted or required.
• Advising brokers on potential deal inquiries to improve the quality of submissions, efficiency of credit assessment and turnaround time on responses and commitments.
• Facilitating getting commitments to funded status by working efficiently with internal departments to expedite resolutions, liaison information and track deal progress.
• Adjusting focus and tactics as required to get deals closed nearing month‑end, responding to competitive pressures, promoting products or special pricing.
• Tracking submissions, deal status, funded volume and overall pipeline to monitor and report on the Business Development Manager’s progress.

• The Business Development Manager will reflect the Bank’s values in all interactions whether external or internal. The Bank’s image of integrity, quality and dependability are critical dimensions to how the Business Development Manager should conduct business and build relationships.
• Proactively engaging and building rapport with sales team members and credit teams.
• Assisting credit in following up on outstanding commitments or documents particularly when the credit team feels challenged with high volumes or toward month‑end.
• Liaising with credit teams and others when necessary to resolve broker issues.
• Assisting brokers who have general questions about products and underwriting through our email inquiry mailbox.
• Probing, validating and sharing insights on brokers, competitive activities and market dynamics.
• Adeptly being able to distinguish the difference between being an effective champion for a broker’s deal versus interfering or duplicating the roles of the credit teams.

• Creating a routine to efficiently and consistently capture, document and track the essence of interactions with brokers and any important feedback.
• Providing all required sales, productivity and activity reports in a timely manner.
• Adjusting time spent and activities to…