Business Development Manager, Mortgage Broker Services

4 weeks ago

Oakville, Canada Firstontario Credit Union Limited Full time

Why FirstOntario?

FirstOntario Credit Union is one of the largest credit unions in Ontario. We are a trusted co-operative financial institution dedicated to providing competitive banking products and services and a quality Member service. More than 128,000 Ontarians choose FirstOntario for their financial needs - from chequing and savings accounts to loans and mortgages and highly qualified investment advice. Our Membership does more than save you money on fees, it also makes you an Owner. At FirstOntario, we believe the best way to ensure our success is by supporting the communities we serve. That's why our policies include volunteering our time, talent and resources to worthy local causes and events. It's also why we reinvest our profits in the same places they're earned, and why we sponsor programs that promote financial literacy and economic development.


Job Overview

The Business Development Manager - Mortgage Broker Services will implement disciplined sales and relationship building strategies to a portfolio of mortgage brokers to achieve targets for sales and Membership growth and to develop new lines of business opportunities solidifying FirstOntario Credit Union as a financial institution of choice.


Role

  • Identify and solicit business from community mortgage broker partners with the goal of generating business growth and increase the Membership base with particular emphasis on the GTA and Northern Region
  • Onboard new Mortgage Brokers and support management of active brokers on the approved FirstOntario list.
  • Dotted line reporting to tenored BDM and work in collaboration as a team to achieve overall Mortgage Broker Department goals.
  • Achieve volume/funding targets for each sales channel as set out at the beginning of the fiscal year by participating in all business development activities
  • Develop annual sales plan to establish new lines of business and relationships with local merchants to grow the retail financing channel
  • Uncover new business through cold-calling, follow-through with referrals, and outside sales activities
  • Build and utilize working relationships with internal business partners across the organization including the Retail and Business Banking Group, and as well as external contacts to strengthen your membership portfolio
  • Partner with the mortgage underwriting team ensuring forms and applications are being submitted completely and accurately; follow up with brokers who are not meeting expectations
  • Host business development events for clients to build partnerships within the community
  • Support portfolio management strategy to balance interest rate yield per loan while continually increasing funding volumes and minimizing delinquency
  • Deliver quality customer service by ensuring that loan decisions are communicated effectively to our broker/DFC/retail financing partners in a timely manner, always ensuring service is exceptional for our members
  • Manage commission payouts and communicate interest rate changes on a weekly basis
  • Handle client questions and concerns in a timely and professional manner escalating as appropriate
  • Initiate recommendations and adjustments to products, policies and/or industry regulations to financing partners as they arise, acting as the local expert
  • Gather and communicate competitive intelligence to assist in product pricing
  • Be an advocate for FirstOntario's products and services, enjoy staying on top of industry trends and incorporate best practices
  • Consider health & safety as a primary concern to ensure the overall well-being of your team and members
  • Perform other duties as required

Required Skills

  • Have a College Diploma or University Degree in the field of business or economics or equivalent years of work experience
  • Have strong sales and/or business development experience of three to five years (3-5) in the financial services industry and mortgage industry
  • Thorough understanding of financial products and services, particularly mortgages, and the ability to communicate confidently in the marketplace.
  • Have an entrepreneurial spirit
  • Understand the mortgage broker industry
  • Enjoy meeting new people and working in a sales environment fueled by personal initiative
  • Enjoy a challenge when it comes to client and Member concerns or challenges and be resourceful in the way you find a solution
  • Be aware of and mitigate enterprise risk factors and ensure compliance with applicable regulations, legislation and FirstOntario policies and procedures
  • Be willing to work flexible hours including evenings and weekends, as the job demands and travel throughout the region; overnight travel may be required

Our Story

Our emphasis on service means we're constantly searching for new team members whose dedication to helping people is as powerful as their ambition to succeed. We're committed to providing professional development, and to extending employee activities beyond day-to-day operations to support the communities where we're located. Our people are the difference, it's a part of why we love coming to work.

FirstOntario is proud and privileged to be able to assist and touch the lives of so many in our communities.

  • We believe giving back to our communities helps everyone.
  • We believe in volunteering, active community support and participation.
  • We believe in investing our profits back into the credit union and the community.
  • We believe in finding solutions to help our Members and communities.

If this sparks your interest and you demonstrate high levels of integrity and credibility, we should talk. Check out our website for the full job description and prepare your cover letter and resume listing your experience, qualifications, and submit it online through our careers page on the company website.

This position offers the option of a hybrid work arrangement, with the successful candidate working in our corporate head office a minimum of two days per week.

We appreciate all who express interest; however, only those selected for an interview will be contacted. No phone calls please.

Accommodations for persons with disabilities are available upon request during the application process.

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