Internal Business Development Manager

7 days ago

British Columbia, Canada EQ Bank | Equitable Bank Full time
Join a Challenger

Being a traditional bank just isn’t our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you’re not afraid of taking on big challenges and redefining the future, you belong with us. You’ll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.

We are a big (and growing) family. Overall we serve more than 670,000 people across Canada through Equitable Bank, Canada's Challenger Bank™, and have been around for more than 50 years. Equitable Bank's wholly-owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than six million members. Together we have over $125 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our customers have named our EQ Bank digital platform (eqbank.ca) one of the top banks in Canada on the Forbes World's Best Banks list since 2021.

The Work

The Business Development Manager is responsible for developing the residential mortgage origination volume potential, for all business lines, of certain mortgage brokers in their assigned geographic areas while delivering on the Bank’s service commitment to the broker network. The Business Development Manager prospects for new broker relationships and nurtures existing relationships to develop the origination volume potential of their assigned broker network and meet targets. The Business Development Manager interacts with brokers primarily through non face-to-face communications and may be required to present or participate in person at training sessions, industry events and special events outside the office from time to time.

Relationship management with brokers is strengthened through the Business Development Manager's positive personality, professional conduct and ability to deliver exceptional service in a highly competitive and dynamic market. Achieving origination volume potential will depend on the Business Development Manager's ability to assist brokers with identifying deals that fit within the Bank’s addressable market, promoting the Bank’s value proposition to win the business and assisting brokers and internal teams with getting acceptable deals closed. Success will also depend on the IBRD’s knowledge level of the broker network, the Bank’s products, internal processes and credit guidelines combined with the ability to work effectively with others on both the inside and external sales teams. The Business Development Manager is to report directly into the Manager Internal Business Development (MIBD).

The Core Responsibilities Of The Job:

  • The Business Development Manager’s performance in the main accountabilities areas listed below, when collectively performed well, will lead to success in this position.
  • Grow Origination Volume (70%)

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 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:

Prospecting

  • 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

Business Development

  • 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 turn-around time on responses and commitments
  • Facilitate getting commitments to funded status by working efficiently with internal departments to expedite resolutions, liaise 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
  • External & Internal Relationship Management (20%)

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. The Business Development Manager will be responsible for:

  • 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
  • Administration and Organization (10%)

As a member of the larger Single Family Residential team, the Business Development Manager will support informational needs and processes ensuring the smooth handling of deals through pipeline to funding by:

  • 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 balance the needs of both prospecting and business development
  • Providing weekly Crystalline status reports
  • Updating rates on various system, watchlist/blacklist additions, broker contact info
  • Handling operational requests from others, including Residential Operations

Let’s Talk About You

  • Two years’ residential mortgage Underwriting/Credit experience
  • Outstanding interpersonal skills
  • Self-directed and highly organized individual
  • Agile time management skills with ability to multi-task
  • Must possess a valid driver’s license and a clean driving record
  • Completion of a college or equivalent post-secondary degree
  • Strong written and verbal skills along with presentation experience
  • Proficient with Microsoft Office: Word, Excel, PowerPoint
  • Previous sales experience is considered an asset
  • Proficient knowledge of Cyberquery or similar database reporting tool(s) is an asset

What we offer [For full-time permanent roles]

💰 Competitive discretionary bonus

✨ Market leading RRSP match program

🩺 Medical, dental, vision, life, and disability benefits

📝 Employee Share Purchase Plan

👶🏽 Maternity/Parental top-up while you care for your little one

🏝 Generous vacation policy and personal days

🖥 Virtual events to connect with your fellow colleagues

🎓 Annual professional development allowance and a comprehensive Career Development program

💛 A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience

Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyone’s diverse experiences and perspectives. In tandem with that commitment, we support and encourage our staff to grow not just in their career path, but personally as well.

We commit to providing a barrier-free recruitment process and work environment for all applicants. Please let us know of any accommodations needed so that you can bring your best self to the application process and beyond. All candidates considered for hire must successfully pass a criminal background check and credit check to qualify for hire. While we appreciate your interest in applying, an Equitable recruiter will only contact leading candidates whose skills and qualifications closely match the requirements of the position.

We can’t wait to get to know you

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