Understanding the Role: VP, Business Banking
As a strategic role in banking, the Vice President (VP) of Business Banking carries a significant amount of independent authority and responsibility in managing the bank’s assets. This position requires a high level of understanding and experience in bank credit and deposit products, particularly those related to business loans.
The VP, Business Banking plays an essential role in various bank divisions, interacting with individuals within Retail Banking Centers, Private Banking, Corporate Banking, Commercial Real Estate, Treasury Management, and the Credit Department. This individual’s duties extend beyond the usual banking operations and involve business prospecting activities, thereby shaping the bank’s profitability.
Moreover, the VP, Business Banking is expected to provide high-quality service to existing customers, working towards maintaining customer satisfaction and loyalty. In line with this, the VP may also be called upon to mentor and manage less experienced Business Banking Representatives and Officers, fostering their growth and development within the bank.
Qualifications and Skills Required
Aspiring candidates must possess a bachelor’s degree, although significant professional experience can be considered in lieu of formal education. The candidate must also have at least seven years of experience as a lender in small business or middle market lending.
Aside from educational and professional qualifications, the VP, Business Banking must have a thorough understanding of all bank credit and deposit products and services, particularly those related to business loans. Knowledge of national and regional government-assisted loan programs will also be beneficial.
Strong communication skills are necessary, as the VP will often need to interpret and explain financial data to others involved in the loan approval process. Additionally, the VP must have a demonstrated ability to provide top-tier customer service, a solid understanding of financial ratios, collateral coverage, and cash flow analysis for business borrowers, as well as proven sales and business development skills.
Lastly, the VP must have a valid driver’s license and access to a dependable vehicle for business development opportunities. Proficiency in Microsoft Windows and the ability to prioritize tasks, multitask, and work under pressure are also prerequisites for this role.
Compensation and Benefits
The compensation for this role ranges from $87,000 to $115,000. Full-time employees are eligible for a comprehensive benefits package, including medical, dental, vision, 401(k) with immediate vesting, tuition reimbursement, and gym membership reimbursement. Part-time employees also qualify for several benefits, including 401(k) with immediate vesting, tuition reimbursement, and gym reimbursement.
For more detailed information about the benefits offered, visit the Dollar Bank’s official site here.
In conclusion, the role of a VP, Business Banking is a challenging yet rewarding position that demands a high level of expertise, experience, and commitment. It offers an opportunity to make a significant impact on the bank’s profitability and to contribute to the growth and development of other banking professionals.
For more details about this job opportunity, click Here.
