Relationship Manager - Wholesale Banking
Federal Home Loan Bank of Boston (FHLBank Boston) is a leading provider of wholesale funding for housing and community finance serving financial institutions across New England. FHLBank Boston is committed to making New England a better place to live and do business, and our employees are integral to our success. As a cooperative, we are owned by more than 400 banks, credit unions, insurance companies, and community development financial institutions that access our reliable, wholesale funding each year. Our funds are a vital resource that helps our members succeed, provide families with safe, decent affordable housing, and generate economic development that creates jobs in communities throughout our region.
Our highly skilled team of 200 is diverse, innovative, collaborative, and passionate about the work we do. We seek other professionals excited to share their knowledge, talent, and passion for our mission to join our team. We offer opportunities for career development, robust benefits, and a work-life balance.
The Relationship Manager (RM) is responsible for meeting or exceeding annual business development targets and effectively managing assigned FHLBank Boston member accounts with a focus on wholesale funding/liquidity. This role works collaboratively within Member Services and with all areas of the Bank to generate and retain member business opportunities, respond to and resolve all member inquiries and concerns, and suggest enhancements to the member relationship. The incumbent must be able to develop and maintain strong working relationships with member CEOs, CFOs, CIOs, Treasurers and other member staff who interact with the Bank. The RM works with colleagues on projects in support of various Bank initiatives. The ideal candidate will be a self-motivated sales-oriented professional that can successfully perform within a collaborative environment.
This role requires travel of up to 50% throughout New England. Most travel will be completed within a day, with occasional overnight stays required.
This is not a commission-based role.
The RM is responsible for coordinating all efforts to analyze and manage assigned member accounts, prospecting, development and retention of FHLBank business with those assigned accounts. Assignments may be managed individually or in a team-based manner. Accounts will typically include a variety of small, mid-size, and large financial institution clients, which may include banks, credit unions, certified community development financial institutions, or insurance companies.
- Maintains consistent contact (by phone, through written correspondence, and in person meetings, as needed) with members to facilitate communications and transactions. The RM serves as an advocate for the member within the Bank to facilitate business opportunities and resolve member issues. While representing members’ interests to Bank management, the RM must demonstrate an understanding of the Bank’s risk tolerances and the cost/benefit of member requests in order to be able to balance the needs of the member with the Bank’s ability to address them. Maintains all activities for management reporting and document member interactions in the Bank’s CRM tool.
- Resolves, either individually or collaboratively, the questions and concerns posed by members on a timely basis. If issue is forwarded to another area of the Bank, assures it has been resolved on a timely basis.
- Develops and achieves sales plans for assigned member accounts, including prospective members. Coordinate account planning efforts with appropriate colleagues, including financial strategists, money desk staff, and marketing strategy and communications. Analyzes member for potential incremental business. Identifies opportunities and documents progress in the sales management database. Leverages appropriate methods to increase members’ awareness of the Bank and encourage product usage by conducting training or educational seminars, attending trade shows or other industry events, and marketing campaigns. Attends various conferences, seminars, and events to increase interaction with member contacts and to promote the Bank in the industry. Produces and analyzes reports related to use of advances and other products for marketing activities and sales results. These reports will be used to analyze competitive positioning, usage trends and other market research-related data. Drafts articles or conveys member experiences through written communication, using various mediums. Other duties, as assigned.
- Practical knowledge of financial institution asset/liability and liquidity management concepts and terminology. Exceptional interpersonal skills with the demonstrated ability to build and maintain effective relationships with member institutions and within the Bank. Strong written, verbal communication and presentation skills with the ability to discuss and sell FHLBank products in an effective manner with “C” level executives. Organizational skills to manage multiple issues for numerous accounts to effective resolutions. Ability to effectively support multiple requests or needs at the same time. Demonstrated financial analysis skills. Ability to analyze financial statements to determine funding needs and determine which of the Bank’s products may best serve the member institution. Strong time management and organizational skills.
- Bachelors degree required, preferably in finance or related field, or equivalent work experience. MBA is a plus. CFA or progress towards this designation is a plus.
- A minimum of five (5) years of relevant experience in the financial services industry with a wholesale funding/liquidity focus. Asset/liability management experience is preferred. Financial services sales experience is required. Financial analysis experience is preferred. Prior experience with a CRM tool, such as Salesforce.com, is ideal.
A valid driver’s license is required for this role. Reliable access to a vehicle is also required to fulfill the requirements of this role.
The Federal Home Loan Bank of Boston is committed to building and sustaining a diverse workforce that reflects the communities that we serve. As an Equal Opportunity Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.