What is the job description of a business banking development officer?
The purpose of a business development officer according to the job description is to develop business is being able to identify and build a rapport with potential clients and to be able to close sales and contracts. They are responsible for developing the banking business for the particular bank they are employed by. They have many duties in their effort to grow the bank’s business.
Required skills for a Business Development Officer
The required skills of a business development officer are as listed:
•General math skills
•Management of profitability
•Knowledge of business
•Corporate finance skills
•Planning of sales
All of these skills are essential to the success of the banking development officer.
According to glassdoor.com, the salary for banking development officer ranges from $88,000 to $96,000 a year before any bonuses are added and with bonuses, the salary ranges from $101,000 to $109,000 a year. The potential for increases in income grows as the clientele grows.
The Duties and Responsibilities of a Business Banking Development Officer
A business development officer has many responsibilities. A few important responsibilities of a business development officer are to acquire new customers, call on existing or prospective client in order to build new business, produce growth in income by selling business products and services, development of relationships with referral sources, identify and capitalize on opportunities. Correspondingly, this professional must maintain knowledge of industry trends, products, and technology; participate in community affairs; and broaden new business opportunities.
The Development Officer’s job description also states that the development officer is usually required to have a bachelor’s degree in a relevant field or work experience that is closely related to the area of work. It is imperative that a banking development officer understands the specific requirements of the job description.