Vice President of Business Banking

1 week ago

Red Bank, New Jersey, United States OceanFirst Bank Full time

Job Overview


At OceanFirst Bank, we believe that every employee contributes significantly to our mission and is accountable for executing daily responsibilities in line with our core values.

We cultivate a workplace that values respect, professionalism, and diversity, making OceanFirst an exceptional place to work and engage with our community.


Key Benefits:
Access to an on-site fitness center at our headquarters, a flexible hybrid work schedule post-onboarding, employee discount programs, tuition reimbursement, performance-based compensation, opportunities for professional growth, and more. Join us to #BecomeOceanFirst and positively impact the local community.

PRIMARY OBJECTIVE:

Drive the team's balanced revenue growth by formulating and executing strategies aimed at attracting and retaining business banking clients, enhancing loan profitability, and boosting deposits.

Provide the necessary leadership and guidance to ensure the achievement of team goals and objectives.

Collaborate with Business Banking Credit Officers to establish effective practices that maintain the credit quality of both individual and team loan portfolios.

Ensure that organizational goals and objectives are met while maintaining regulatory compliance and adherence to credit policies.

CORE RESPONSIBILITIES:

  • Formulate and implement strategies to meet team and bank objectives in new business development and client retention. Contribute to the team's revenue growth through the development and execution of a personalized marketing plan that aligns with the current business landscape.
  • Identify and assess business opportunities, setting appropriate goals that align with these opportunities. Direct the creation of relevant marketing strategies.
  • Proactively seek to establish new business banking customer relationships through networking and client outreach. Utilize knowledge of the existing client base to maximize opportunities for cross-selling new loan and non-loan products and services. Build a network of internal and external referral sources.
  • Analyze and establish suitable credit policies in collaboration with the Chief Credit Officer and Risk Management. Monitor underwriting performance, economic conditions, and competitive landscape in relation to the bank's risk appetite, adjusting credit policies as necessary to meet overall bank objectives.
  • Oversee Business Banking Credit Officers to ensure compliance with established credit policy guidelines.
  • Supervise the underwriting of new loans, renewals, extensions, and modifications to ensure that team decisions reflect a strong asset quality position. Apply a thorough understanding of the Bank's overall portfolio mix, concentration limits, and risk philosophy, and how these factors influence credit decisions.
  • Ensure all required documentation is collected and maintained in accordance with policy.
  • Define the requirements for the Bank's business banking technology platform, including workflows, credit criteria, training, and procedures for loan origination, new account opening, and digital banking. Collaborate with IT and Digital Strategy teams on vendor selection and service levels to ensure digital tools align with business objectives.
  • Manage staffing, employee development, and performance evaluations.
  • In partnership with Business Banking Credit Officers, establish requirements and processes for maintaining best practices in portfolio management, including proactive identification of deteriorating loans, analysis of economic conditions and market trends, and ongoing reviews of current portfolio clients. Ensure timely actions are taken to mitigate risks and identify problem credits.
  • Prepare and manage a profitability plan focusing on balance sheet growth, net interest income, non-interest income, deposit growth, and expense management.
  • Establish management and administrative procedures to ensure compliance with bank, federal, and state regulations, adhering to the Safety and Soundness guidelines of relevant regulatory agencies.
  • Represent the organization as an active participant in community initiatives. Engage as a member of local business boards and committees.

JOB REQUIREMENTS:
Knowledge, Skills, and Abilities

  • In-depth knowledge of commercial lending, including applicant qualification, proposal packaging, credit underwriting, cash flow analysis, and loan closing.
  • Exceptional selling and negotiation skills, demonstrated success in developing and maintaining lending relationships.
  • Comprehensive understanding of applicable banking regulations and laws governing commercial lending, including credit approvals, policy, and risk management.
  • Proven expertise in credit analysis, including risk identification and exposure assessment.
  • Successful track record in building and managing a team of lending professionals.
  • Demonstrated strategic and tactical planning capabilities.
  • Strong verbal and written communication skills, with the ability to prepare and present credit packages effectively.
  • Excellent organizational skills, with the ability to prioritize tasks in a multi-tasking environment and meet deadlines.
Experience and Education

  • Bachelor's degree in Finance, Business Management, or Marketing required, or equivalent experience.
  • 10+ years of experience in commercial and small business lending, with demonstrated expertise in credit analysis and assessment.
  • 5 years of proven leadership and management success in a commercial lending environment.
Internal and External Contacts

  • Extensive external customer, prospect, and referral source interactions.
  • Provides support to administrative staff and other support areas of the Bank.
Working Conditions/Physical Requirements
Office environment. Ability to operate a computer. Ability to communicate effectively to exchange information with individuals and groups. Ability to travel as needed.

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