Business Development Officer at Fedeth Microfinance Bank
Fedeth Microfinance Bank economically empowers micro-entrepreneurs and low-income earners by providing financial services.
We are recruiting to fill the position below:
Job Title: Business Development Officer
Location: Abuja (FCT)
Employment Type: Full-time
New Business Development:
- Prospect for potential new clients and turn this into increased business.
- Developing growth strategies and plans
- Meet Investment/risk targets for each products as set out at the beginning of the fiscal year
- Preparation of budgets and reviewing timeframes for meeting budget
- Manage portfolio to balance interest rate yield per loan while continually increasing funding volumes and minimizing delinquency.
- Handle objections by clarifying, emphasizing agreements and working through differences to a positive conclusion.
- Use a variety of styles to persuade or negotiate appropriately.
- Present an image that mirrors that of the organization.
- Investment Appraisal
- Asset origination
- Credit administration and preparation of offer letters.
- Analysis, appraisal and preparation of Structured Finance agreements and other documents.
- Review of credit applications to ensure that all documents submitted by the client are complete.
- Asset inspection before approval is made.
- Assessment of the client’s balance sheet performance, cash flow and streams of income.
- Accounts reconciliation and recovery management
- Identify and mobilize Investments from both individual and corporate entities
- Deliver quality client service by ensuring that loan decisions are communicated effectively to clients in a timely manner.
- Manage commission payouts and communicate interest rate changes as the need arises
- Cold call as appropriate within your market or geographic area to ensure a robust pipeline of opportunities.
- Meet potential clients by growing, maintaining, and leveraging existing network.
- Research and build relationships with new clients.
- Set up meetings between client decision makers and Bank’s practice leaders/Principals.
- Plan approaches and pitches.
- Work with team to develop proposals that speak to the client’s needs, concerns, and objectives.
- Participate in pricing the solution/service.
Business Development Planning:
- Attend industry functions, such as association events and conferences, and provide feedback and information on market and creative trends.
- Brainstorm with other business development teams to create new products that will meet client’s needs while increasing profitability
- Manage records of new clients established, investments, risk assets and other important data
- Present to and consult with mid and senior level management on business trends with a view to developing new services, products, and distribution channels.
- Identify opportunities for campaigns, services, and distribution channels that will lead to an increase in sales.
- Using knowledge of the market and competitors, identify and develop the Banks’s unique selling propositions and differentiators.
Management and Research:
- Submit weekly progress reports and ensure data is accurate.
- Forecast sales targets and ensure they are met by the team.
- Present business development training and mentoring to business developers and other internal staff.
- Research and develop a thorough understanding of the Bank’s people and capabilities.
- Understand the Bank’s goal and purpose so as to continue to enhance the Bank’s performance.
- Track and record activity on accounts and help to close deals to meet these targets.
- Work with marketing staff to ensure that prerequisites (like prequalification or getting on a vendor list) are fulfilled within a timely manner.
- Ensure all team members represent the Bank in the best light.
Requirements / Technical Skills
- Candidates should possess a Bachelor's Degree, HND, Master's Degree qualification.
- Good knowledge and understanding of the principles of product development, brand management and business intelligence
- Good knowledge of the leading products and services available in the global market
- Expert knowledge of Fedeth’s products and services.
- In-depth knowledge of the Nigerian Financial Services Industry
How to Apply
Interested and qualified candidates should send their Applications to: firstname.lastname@example.org using the Job Title as the subject of the mail
Application Deadline 24th September, 2021.