Job Information
Blue Foundry Bank Business Development Banker in Parsippany-Troy Hills, New Jersey
About Blue Foundry Bank
This is the Bank Where Things are Made. Blue Foundry is a bank where businesses are shaped, plans are formed, ideas are refined, solutions are built, and stuff gets done. Blue Foundry is revolutionary, bold, resourceful, roll-up-your-sleeves committed, smart, creative, and fun. A Bank of movers, shakers, and makers…We are a Bank that Gets Things Done.
At Blue Foundry Bank we invest in the well-being of our most prized asset…our employees! We provide a robust array of programs and benefits to help employees advance their careers and enhance the quality of their lives. Our experiential learning and development program ensures employees are on track to grow their career as of day one.
In addition, our comprehensive compensation package includes; medical, dental, and vision coverage; life insurance, short- and long-term disability insurance; 401(k)/Roth with company match up to 5%; paid time off, and 11 paid holidays; employee referral bonus; and educational reimbursement.
Summary
The Business Development Banker plays a critical role in generating new deposits, business loan leads, cash management services, and other revenue streams for the bank. Their main responsibility is to actively prospect for new business relationships and identify opportunities within the Government Banking sector. This involves building and maintaining a strong pipeline of business leads, regularly meeting with potential clients, and fostering robust relationships in their designated market area.
A key aspect of the role is closing business opportunities within the Professional Services vertical. The Business Development Banker must engage with a range of stakeholders, including high-net-worth individuals, local businesses, and key influencers, such as Centers of Influence, to broaden their network and enhance their business portfolio. These relationships are instrumental in helping them build a book of business, which, in turn, contributes to the overall growth of the bank’s deposit portfolio.
Once an opportunity is successfully won, the responsibilities extend to maintaining and nurturing the client relationship. They are tasked with deepening the connection by providing ongoing support and offering additional banking solutions to meet the evolving needs of the client. This long-term relationship management ensures that the client remains within the banker’s portfolio and helps to generate continuous revenue for the bank. In summary, the Business Development Banker is a proactive relationship-builder who balances new business development with strategic client retention and growth.
Primary Responsibilities
Prospect within Professional Services verticals to include: Attorney’s, Medical Practices, Property Management Organizations, CPA’s, Marketing and Consulting firms, Research and Development and Engineering/Architectural firms.
Identify and develop new business relationships that have annual revenues over $5MM.
Responsible for self-sourcing and onboarding new business relationships to achieve set goals.
Organize in-branch events to host prospects and customers to acquire new and deepen existing business relationships.
Attend and host events that may occur outside of normal business hours and on weekends.
Effectively onboard business prospects and grow existing business customer’s lending, depository, and cash management relationships.
Work closely with Centers of Influence (COI) to build a network of contacts and partners that can positively impact business referrals and production.
Partner with multiple lines of business within Blue Foundry Bank including but not limited to: Cash Management, Commercial Banking, and External Partners to help cross-sell Blue Foundry Bank products and services to deepen existing and acquire new banking relationships.
Work closely with the Cash Management Team to ensure customers and prospects are utilizing all the tools they need to help their business run smoothly and efficiently.
Identify the top business depositors in each branch and work with Branch Relationship Managers to service these customers and enhance their relationship with Blue Foundry Bank.
Manage schedule to dedicate 75% of time to be spent generating business by meeting with prospects, outbound calling, attending networking functions, and community events.
Effectively onboard business prospects and grow existing business customer’s deposit, lending, and cash management relationships.
Work closely with Commercial Bankers to develop deposit relationships for these customers.
Additional Responsibilities
Understand and carry out senior management’s sales objective(s) within respective vertical assigned.
Have in-depth experience of the pre-qualification, structuring, and pricing on all credit requests to adhere to Blue Foundry Bank profitability standards.
Maintain a strong understanding of Blue Foundry Bank credit policy, evaluate risk on credit and depository products, and recognize client eligibility to successfully submit credit/application packages.
Stay current with national, regional, and local industry trends.
Experience in building and maintaining relationships with customers and prospects.
Acquire new and deepen existing nonprofit relationships focusing on account acquisition and deposit growth.
Support the Blue Foundry Bank Charitable Foundation by engaging grant recipients.
Perform other duties as assigned.
Minimum Requirements:
Minimum of a four-year college degree preferred.
Minimum 3 – 5 years of proven banking experience in business development, sales, and marketing
Well-developed negotiation and account management skills
Versatile, flexible, and able to travel for meetings and training as required.
Self-motivated and confident with the ability to multitask.
Strong Center of Influence (COI) network – required.
Experience in analyzing financial statements - required.
Excellent communication and interpersonal skills
Strong prospecting and sales skills.
Excellent consultative sales skills.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, LGBTQ, national origin, disability or protected veteran status.