Business Development Officer

at Live Oak Bank • Wilmington HQ

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POSITION Summary:

The primary responsibility is to identify, analyze, structure, negotiate and close Asset Based Lending or Factoring transactions in the temporary staffing, trucking, and similar labor industries. Geographic territory will be National.  The individual is responsible for implementing marketing strategy and identifying appropriate referral sources and potential clients.  Working with underwriting and origination teams during diligence and closing processes to ensure a seamless transition.

Essential Functions:

  • Originate transactions through direct calling on prospects and indirect calling on referral sources.
  • Serve as a primary contact with the borrower’s management, maintaining an awareness of business problems.
  • Maintain an in-depth understanding of the loan structure, financial performance, collateral, documentation, industry trends, compliance with terms of conditions, and any other factors that impact Live Oak’s risk exposure.
  • Strong client focus (quickly evaluate client needs; build/ apply understanding of client's industry; tailor solutions to meet client needs; manage client expectations throughout process)
  • Develop and conduct prospect and intermediary presentations and proposals
  • Develop and maintain prospect and select intermediary relationships (CPA's, attorney's turnaround professionals, investment banks, private equity funds and other appropriate intermediaries)
  • Participation and involvement as officer or board member in various industry and trade associations on a regional level.
  • Maintain and grow a sourcing network for generating future deal activity
  • Plan and implement various marketing events through the assigned territory

Minimum Qualifications:

  • Bachelor degree required
  • Minimum ten years experience in Asset Based Lending/Factoring with at least five years in origination with experience in underwriting and /or portfolio management highly desired
  • Direct experience in sourcing for Asset Based or Factoring deals highly desired
  • Direct knowledge of legal and operational aspects of Asset Based Lending
  • Demonstrate negotiating and influencing skills
  • Works collaboratively to achieve team goals and outcomes
  • Works independently to cover the most complex of transactions
  • Demonstrate negotiation and influencing skills
  • Strong analytical skills
  • Strong oral and written communication skills
  • Proficient computer skills, including the ability to develop and maintain a contact database
  • Business travel required

Skills:

  • Problem solving and decision-making skills are essential
  • Ability to read and interpret financial statements including income statement, balance sheet, cash flow statement and forecast models.
  • Ability to set priorities, and the discipline to execute to those priorities
  • Excellent communication skills, both written and verbal; ability to communicate complex technical solutions to management or team members is essential.
  • Self-motivated and detail-oriented
  • Must have good time management and organizational skills and adhere to deadlines
  • Collaborative and handles constructive criticism
  • Ability to manage multiple initiatives while meeting scope, schedule, cost, and quality requirements

Education:

  • A Bachelor’s degree

Experience:

  • 1-10 Years of ABL or Factoring experience
  • 1-5 Years experience in sales

Physical Demands: (Work environment demands)

  • The ability to work the days and hours required to fulfill the essential functions of the position
  • The ability to work long hours and to multitask
  • Frequent travel is required

 Mental Demands:

  • Learning, thinking, concentration, creativity
  • The ability to interact with others, work as a team and exercise self-control
  • The ability to work under stressful conditions, particularly in regards to tight deadlines
  • The ability to make decisions and exercise discretion when necessary