Business Development Officer at Fedeth Microfinance Bank


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Fedeth Microfinance Bank

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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

Job Responsibilities
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.
  • 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.
  • 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

Business Development Planning:

  • Attend industry functions, such as association events and conferences, and provide feedback and information on market and creative trends.
  • 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.
  • 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

Management and Research:

  • Submit weekly progress reports and ensure data is accurate.
  • Forecast sales targets and ensure they are met by the team.
  • 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.
  • 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.

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

Application Closing Date
24th September, 2021.

How to Apply
Interested and qualified candidates should send their Applications to: [email protected] using the Job Title as the subject of the mail.

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