Business Development Officer, Stearns Salaam Banking

At Stearns Bank, we’re helping people, entrepreneurs, small businesses, and local communities nationwide reach their full financial potential. Sound like something you want to be a part of? If so, we’re currently looking for an Business Development Officer, Stearns Salaam Banking to join our team! This is a fully remote position. 

Come see how we’re doing business unusual and charting our own path to reimagine a more inclusive financial services and banking ecosystem for all.

Benefits

Stearns Bank understands and respects that everyone is managing unique career, family, and wellness needs. That’s why we offer industry-leading benefits to employees to help them live healthy lives and bring their full selves to work every day. Benefits may vary for part-time positions. Some of those benefits include:

• Employee Stock Ownership Plan & 401k Plan with Employer Match
• Healthcare (Medical, Dental, Vision, Telehealth, Life insurance)
• 12-week Paid Medical Leave
• Paid Parental Leave: 21-weeks Primary Care Parent, 14-weeks Secondary Care Parent
• $5,000 Family Care Reimbursement: Childcare, Elder Care, Student Loan Debt, Pet expenses, down payment assistance
• PTO from 13 to 23 days depending on tenure. Cashout and Carryover options.
• 10 Days Sick Time
• 11 Paid Holidays
• 4 Days Volunteer Time
• 2 Days Self Allowance Time
• Tuition Assistance

For this position, we anticipate an annual salary between $90,000 -$130,000. Final employment offers will be dependent upon the selected candidate’s relevant qualifications and experience.

JOB SUMMARY

This position is a role that will require the candidate to lead financing transactions and operate autonomously with minimal oversight. The candidate is expected to have a “can-do” attitude and have the drive and ability to achieve key business objectives. The candidate will develop deep and lasting relationships with community leaders, institutions and businesses and will play a key role in originating financing transactions, building a strong deposit base, and serving as an ambassador for Stearns Salaam Banking. 

RESPONSIBILITIES

Originating Financing Transactions

• Generates new financing opportunities through prospecting, calling, and referrals to the community.
• Ensure timely and accurate tracking of all calls and leads in Salesforce and CRM software.
• Consistently meet or exceed monthly sales and performance objectives and operational standards regarding leads and conversion of those leads into opportunities and closed transactions.

Deposit Growth

• Ability to identify opportunities to cross-sell Stearns Salaam Banking products and services by engaging with customers to open deposit accounts.
• Focus on building a large base of deposits from local consumers, businesses, and non-profits, achieving monthly deposit growth targets.
• Being able to communicate how an Stearns Salaam Banking savings account can serve as an ethical cash-management solution for Muslim businesses and non-profits.

Community Engagement

• Actively participate in community events, seminars, and conferences to promote Stearns Salaam Banking services across religious institutions, schools, and businesses.
• Enable access to financing for Low to Moderate-Income (LMI) individuals in the designated region and support CRA activities for Stearns Salaam Banking and Stearns Bank as a whole.

Compliance & Education

• Ensure that Stearns Salaam Banking business development practices adhere to the compliance standards of Stearns Bank as well as the standards of Stearns Salaam Banking. Maintain a working knowledge of all legal and regulatory compliance issues as they pertain to this position.
• Educate community members on the customer value proposition (CVP) of Stearns Salaam Banking and why they should consider migrating their deposits to Stearns Salaam Banking. Conduct financial literacy programs through seminars & workshops.
• Answer questions from the community on how Stearns Salaam Banking products work and what makes them distinct from traditional products.

REQUIREMENTS

• Occasionally lift and/or move up to 10 lbs.  
• Literacy in English.
• Ability to sit for extended periods of time, twist, bend, sit, walk use hands to twist, handle or feel objects, tools, or controls, such as computer mouse, computer keyboard, calculator, stapler, telephone, staple puller, etc., reach with hands and arms, balance, stoop, kneel, talk, or hear.
• Specific vision abilities required by the job include close vision, distance vision, peripheral vision, depth perception and the ability to adjust focus.

QUALIFICATIONS

• Bachelor’s degree in a field related to Business, Economics, or Finance.
• Experience in business development within the banking industry.
• Knowledge of Islamic finance principles and financing structures.
• Deep community engagement and network within the designated region.
• Excellent communication and client relationship skills.
• Detail oriented with strong sales and analytical skills.
• Ability to work independently and collaboratively in a fast-paced, dynamic environment.
• Highly motivated and goal driven.
• Ability to independently make decisions, self-starter mentality.
• Ability to manage a large workload and take on additional tasks as requested.

THE COMPANY

Founded in 1912, Stearns Financial Services Inc. (SFSI) is a $3.2 billion, independently owned financial institution with locations in Minnesota, Florida and Arizona, and over 35,000 small business customers nationwide. Specializing in affordable housing financing, USDA and SBA lending, and small business and equipment financing, Stearns Bank is regularly recognized as one of the country’s top-performing banks and “Best Banks to Work For” by American Banker.

As a Star Tribune Top Workplaces award recipient and an award recipient of the Minnesota Business Magazine 100 Best Places to Work in Minnesota, Stearns takes pride in their team and holds their employees in extremely high regard. We offer a competitive salary and benefit package including our Employee Stock Ownership Program-one of the best long-term incentive programs in the nation. To learn more about Stearns Bank, visit www. StearnsBank.com

EQUAL OPPORTUNITY EMPLOYER /AFFIRMATIVE ACTION PLAN

We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, or creed, religion, sex, marital status, familial status, sexual orientation, national origin, age, disability, veteran’s status, status with regard to public assistance, or any other class protected by Federal, State, local laws governing nondiscrimination in employment.