Job Description
This role is responsible for driving new client acquisition and business development within Global Commercial Banking. The Business Development Officer (BDO) focuses exclusively on identifying, sourcing, and winning new commercial banking relationships with companies generating approximately $50 million to $2 billion in annual revenue. The BDO serves as the initial point of contact for prospective clients, develops strategic relationships with business owners and executives, and partners across the bank to deliver comprehensive financial solutions.
The role is focused on prospecting, origination, and new business generation. Once a new relationship is established, the client is transitioned to a Relationship Manager who assumes ongoing coverage and relationship management responsibilities.
Responsibilities
- Sources, develops, and closes new Global Commercial Banking relationships with companies generating approximately $50 million to $2 billion in annual revenue.
- Establishes and cultivates relationships with business owners, executives, attorneys, accountants, private equity professionals, and other centers of influence to identify new business opportunities.
- Builds and maintains a robust pipeline of prospective clients through targeted business development activities, networking, referrals, and community engagement.
- Maintains disciplined sales practices, prospect management routines, and pipeline reporting to drive consistent business development results.
- Leads and facilitates discussions with prospects regarding strategic business objectives, financing alternatives, growth initiatives, capital needs, and broader business challenges.
- Evaluates company financial statements, cash flow trends, capital structures, and industry dynamics to identify opportunities and structure solutions for prospective clients.
- Facilitates client acquisition efforts by understanding prospect needs and introducing appropriate banking, credit, treasury, capital markets, and wealth management solutions.
- Represents Bank of America within the local business community through active participation in industry associations, professional organizations, and networking events.
- Adapts business development strategies to changing market conditions and competitive dynamics.
Skills
- Business Development
- Prospecting
- Relationship Building
- Strategic Networking
- Sales Performance Management
- Pipeline Management
- Client Solutions Advisory
- Financial Analysis
- Corporate Finance
- Capital Markets Knowledge
- Referral Identification
- Communication and Presentation Skills
- Market Development
- Leadership and Influence
Education
- Undergraduate degree preferred; business, finance, or economics majors preferred.
- MBA desirable.
Required Qualifications
- Minimum of 10 years of experience in Commercial Banking, Commercial Lending, Investment Banking, Corporate Banking, or a related field.
- Proven track record of originating and closing new commercial banking relationships and generating significant new business revenue.
- Demonstrated success developing prospect pipelines and converting opportunities into profitable client relationships.
- Strong sales, networking, and business development skills, with experience calling on business owners, CFOs, and senior executives.
- Ability to establish credibility quickly with prospective clients and centers of influence.
- Strong corporate finance, capital markets, accounting, and credit acumen.
- Outstanding oral, written, and presentation skills.
- Demonstrated ability to lead complex client acquisition opportunities by coordinating internal partners and resources.
- Securities Industry Essentials (SIE), Series 7, and Series 63 licenses (must obtain within 180 days of start date).
Preferred Qualifications
- Existing knowledge of the local market.
- Established network of business leaders, centers of influence, and referral sources.
- Demonstrated involvement in local business, civic, and community organizations.
- Proven ability to build strategic partnerships that generate new client opportunities.
Key Success Measures
- New client acquisition.
- New revenue generation.
- New loan and deposit production.
- Pipeline development and conversion.
- Expansion of referral networks and centers of influence.
- Market penetration and business development activity.
Shift:
1st shift (United States of America)
Hours Per Week:
40
Pay Transparency details
US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110)
Pay and benefits information
Pay range
$140,000.00 - $235,000.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible
This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
Benefits
This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
