Cannabis jobs at Needham Bank

Job Description:

The Business Development Officer Level II (“BDO”) is responsible for the development and cultivation of a variety of relationships ranging from small to large entities including investment firms, manufacturing, general commercial and industrial businesses, service companies, development companies, deposit trusts, commercial real estate firms, medical and recreational marijuana businesses and other businesses requiring senior loan facilities under the Structured Finance segment of the Bank. The BDO will not only be responsible for driving new commercial business into any of the Bank’s commercial lending departments, but will also be responsible for assisting in completing and driving forward diligence and business opportunities in the the existing prospect pipeline.

ESSENTIAL DUTIES & RESPONSIBILITIES

The candidate will work within the C&I Lending Department and work most directly with the Structured Finance team. The candidate will report to the C&I Director of Structured Finance but will focus daily duties by supporting the Relationship Managers on the Structured Finance team.

• Work to pursue a variety of new business leads that range from large corporates to small businesses and actively generate new business by maintaining a portfolio of prospective clients. New business opportunities shall follow the existing relationship management protocol designed at the Bank.
• The BDO will be required to successfully complete formal commercial credit training courses and any and all related finance and business classes as determined by the Director of Structured Finance.
• The BDO will be trained internally to use a variety of the Bank’s systems which include but are not limited to Loan Vantage, Shield Compliance, LexisNexis, COCC Insight, Avantus Credit Report, Collateral 360 and more.
• Work directly with small to large business entities to ensure the initial due diligence items required for underwriting and compliance review are in order and received. The BDO will assist in underwriting and will work directly with the Analyst and/or Portfolio Manager to complete the Bank’s due diligence process.
• Assist in the management of the Bank’s Structured Finance opportunity pipeline as directed by the Director of Structured Finance. These specific duties include but are not limited to the following:
  
  • Manage the pipeline, including all cannabis loan prospects, by entering prospect information into the Bank’s systems;
  • Organize borrower’s information in the folders such as Financials, Compliance Due Diligence, Collateral information and loan documentation;
  • Provide an initial overview of prospective borrower opportunities by preparing a Deal Screen Memo for the Structured Finance Relationship Manager and Director of Structured Finance;
  • Draft initial Term Sheet, outlining transaction details, upon acceptance of the Deal Screen Memo;
  • Order ancillary due diligence reports relating to transactions such as appraisals, environmental, legal, compliance reports and any other items as directed by the Structured Finance Relationship Manager and Director of Structured Finance;
  • Assist with preparing pre-closing bank documents, such as KYC, UBO, MRB Form, W9’s, Insurance and Flood Insurance review (if applicable);
  • Coordinate with Loan Operations and Commercial Loan Admins by preparing and sending loan documents and loan approval.
  • Assist with post loan closing legal and diligence items as outlined by the Bank’s legal counsel by gathering, reviewing and completing diligence checklist in coordination with the Bank’s Loan Operations Department, Compliance Department and Credit Administration.
• Broaden and expand existing relationships by providing additional services/products in a timely manner; meeting and exceeding our customer needs.
• Educate our customers by recommending products based on the needs of their business and facilitate meetings with the Bank’s specialist to sell and install new products.
• Promote the bank and the bank’s products in surrounding communities.
• Monitor and track business development goals.
• Be aware of changes in compliance and stay current on legislation working with the retail, BSA and Product Development teams.
• Answer any inquiries customers/prospects may have regarding account relationships, lending/products, and other available services. Work with all relationship managers and support departments to ensure full customer satisfaction.
• Coordinate meetings and business calls as needed.
• Assumes additional responsibilities and participate in special projects as requested by the Director of Structured Finance.

Required Experience:

• BA/BS degree level of education or its equivalent.
• Experience or knowledge in deposit compliance.
• Strong written and verbal communication skills.
• Strong organizational and analytical skills.
• Knowledge of Microsoft Office including Word and Excel.
• Normal business office environment, hybrid/remote working options are available
• On site client visits as directed by the Director of Structured Finance
• Ability to adhere to Needham Bank’s Core Values (Focus on Customer Relationship, Embrace Change, Work as a Team, Be an Asset to Your Community, Always Learn, and Do the Right Thing)

Needham Bank offers a competitive salary and an amazing benefit package for a full-time employee which includes fully paid medical and dental insurance, HRA, 401(k) plan with an 8% bank match, paid time off (PTO), paid holidays, a bonus program, flexible spending accounts, vision service plan, group term life insurance, short and long term disability insurance, tuition reimbursement, and an Employee Assistance Program. We offer a great benefit package to our eligible part-time employees as well.

Don’t meet every single requirement? Studies have shown that women and people of color are less likely to apply to jobs unless they meet every single qualification. At NB, we are dedicated to building a diverse, inclusive and authentic workplace, so if you’re excited about this role, but your past experience doesn’t align perfectly with every qualification in the job description, we encourage you to apply anyways. You may be just the right candidate for this or other roles.

Needham Bank is an Equal Opportunity/Affirmative Action Employer. Needham Bank will provide all applicants for employment and all employees with equal opportunity for employment and promotion regardless of race, color, religion, gender, national origin or ancestry, age, disability, veteran status, military service, sexual orientation, genetic information, or gender identity.
From: Needham Bank

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