Business Development Director directs the execution of the business development vision, strategy, plans, and processes to drive sales, increase revenue, expand markets, and accomplish financial objectives. Identifies and evaluates new markets, partners, channels, and customers. Being a Business Development Director develops and uses contacts and relationships within the industry, business environment, and customer base to understand and respond to competition, pricing, and product demand changes. Oversees the development of proposals and contracts for new business opportunities and manages negotiations. Additionally, Business Development Director collaborates with marketing, sales, product development, and other stakeholders to support business development plans. Requires a bachelor's degree. Typically reports to top management. The Business Development Director manages a departmental sub-function within a broader departmental function. Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure. To be a Business Development Director typically requires 5+ years of managerial experience. Deep knowledge of the managed sub-function and solid knowledge of the overall departmental function. (Copyright 2024 Salary.com)
GENERAL DESCRIPTION OF POSITION
The GoldStar Trust Company (GTC) Business Development plans and implements financial institution sales and marketing programs targeted toward the business community.
ESSENTIAL DUTIES AND RESPONSIBILITIES
1. Utilizes company products and services for the designated target population and geography to meet monthly goals and sales activity. This duty is performed monthly, about 5% of the time.
2. Generates a robust business pipeline and manages it to ensure effectiveness. This duty is performed daily, about 10% of the time.
3. Analyzes the industry landscape for industry-specific insights and opportunities with the ability to turn those insights actionable. This duty is performed daily, about 10% of the time.
4. Facilitates training opportunities for internal and external partners to become more familiar and comfortable with GoldStar solutions. This duty is performed as needed, about 5% of the time.
5. Researches and compiles competitors' product offerings to identify and articulate competitive advantages. This duty is performed daily, about 10% of the time.
6. Maintains updated product knowledge and the effect of industry trends independently and through attendance at educational events. This duty is performed daily, about 10% of the time.
7. Demonstrates proficient knowledge of GoldStar's solutions and effectively educates customers on the features, benefits, and value propositions related to each product. This duty is performed daily, about 10% of the time.
8. Manages relationships of assigned business providers, including educating providers on GTC policies and procedures, servicing existing businesses, and monitoring future growth opportunities to expand the relationship. This duty is performed as needed, about 5% of the time.
9. Creates and delivers tailored sales presentations, pricing, and cost analysis based on prospects business strategy and position within the industry. This duty is performed as needed, about 5% of the time.
10. Develops a strong relationship with existing customers and centers of influence to retain and develop new business through various channels. This duty is performed daily, about 10% of the time.
11. Communicates professionally and accurately to customer service inquiries and concerns in a timely manner. This duty is performed daily, about 10% of the time.
12. Supports in the development and maintenance of proper procedures, policies, and systems to assure compliance and customer satisfaction with retirement products. This duty is performed daily, about 10% of the time.
13. Completes required BSA/AML training and other compliance training as assigned. This duty is performed quarterly.
14. The ability to work in a constant state of alertness and in a safe manner. This duty is performed daily.
15. Perform any other related duties as required or assigned.
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty mentioned satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
EDUCATION AND EXPERIENCE
Broad knowledge of such fields as accounting, marketing, business administration, finance, etc. Equivalent to a four year college degree, plus 19 to 23 months related experience and/or training, or equivalent combination of education and experience.
COMMUNICATION SKILLS
Ability to effectively communicate information and respond to questions in person-to-person and small group situations with customers, clients, general public and other employees of the organization. ability to read, analyze, and understand general business/company related articles and professional journals; ability to speak effectively before groups of customers or employees. ability to write reports, business correspondence, and policy/procedure manuals; ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public. ability to read, analyze, and understand common scientific and technical journals, financial reports, and legal documents; ability to respond to complex or difficult inquiries or complaints from customers, regulatory agencies, or members of the business community.
MATHEMATICAL SKILLS
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts such as fractions, ratios, and proportions to practical situations.
CRITICAL THINKING SKILLS
Ability to use common sense understanding in order to carry out detailed written or oral instructions. Ability to deal with problems involving a few known variables in situations of a routine nature.
REQUIRED CERTIFICATES, LICENSES, REGISTRATIONS
Not indicated.
PREFERRED CERTIFICATES, LICENSES, REGISTRATIONS
Not indicated.
SOFTWARE SKILLS REQUIRED
Basic: Contact Management, Spreadsheet, Word Processing/Typing
WORKING CONDITIONS
Normal working conditions as found within an office setting, wherein there is controlled temperature and a low noise level, plus a minimum of distractions.
ENVIRONMENTAL CONDITIONS
The following work environment characteristics described here are representative of those an employee encounters while performing essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually moderate.
PHYSICAL ACTIVITIES
The following physical activities described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions and expectations.
Semi-repetitive, low physical. Semi-repetitive type work which requires periods of concentration for varied time cycles as prescribed by the tasks.
While performing the functions of this job, the employee is frequently required to use hands to finger, handle, or feel, talk or hear; and occasionally required to stand, walk, sit, reach with hands and arms, stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision.
ADDITIONAL INFORMATION
-Nineteen (19) to twenty-three (23) months of related experience and/or training
-Must have extensive knowledge of the practices and regulations that govern the retirement industry and the implications of federal, state, and local regulations affecting employer-sponsored retirement plans and self-directed IRAs
-Must have extensive knowledge of industry issues and competitive products/services
-Must be able to work and influence other groups and departments to ensure a smooth rollout, onboarding, and management of accounts
-Must have the ability to gather, arrange, compile, interpret, analyze, summarize, and evaluate information and data to identify sales opportunities and formulate conclusions and recommended actions
-Must have a solid knowledge of overall retirement and custodial services and operations
-Must be able to be results oriented with demonstrated ability to achieve organizational and business goals and objectives
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