Sr. Relationship Manager - Global Commercial Banking - Dealer Financial Services

Bank of America - Buffalo, NY

Full-time - Mid Level

Buffalo, NY

Credit Intermediation and Related Activities

About the position

At Bank of America, we are committed to making financial lives better through every connection we create. Our approach to Responsible Growth is not just a strategy; it is the foundation of how we operate and deliver value to our clients, teammates, communities, and shareholders. We strive to be a great place to work, fostering a diverse and inclusive environment where individuals from various backgrounds and experiences can thrive. We invest significantly in our teammates and their families by providing competitive benefits that support their physical, emotional, and financial well-being. Our flexible work arrangements reflect our belief in the importance of collaboration while accommodating the diverse needs of our employees. The Dealer Financial Services (DFS) division at Bank of America is seeking a Senior Relationship Manager to join our team. This role is crucial as it focuses on building and maintaining commercial client relationships within the automotive and recreational vehicle dealer sectors across Upstate New York and Eastern Pennsylvania, excluding the Philadelphia metropolitan area. The Senior Relationship Manager will be responsible for initiating new dealer relationships and nurturing existing significant client partnerships. This position offers a unique opportunity to develop a dealer portfolio in a major market, leveraging the strength of the Bank of America brand and its comprehensive product offerings. The Senior Relationship Manager will engage in new business development, focusing on a range of commercial banking services tailored for automotive dealers. These services include vehicle floor plan lines of credit, term loan financing, DDA/Treasury products, Merchant Services, and employee benefits services. The ideal candidate will possess extensive product knowledge and demonstrate the ability to effectively prospect, market, and solicit appropriate dealer commercial clients. They will assess client needs, lead a team of product professionals, and achieve assigned revenue objectives for DFS. This role is pivotal in driving the growth of the Dealer Financial Services division and enhancing the overall client experience.

Responsibilities

• Initiate, maintain, and build existing and new dealer commercial client relationships.
• Focus on establishing new commercial relationships for Dealer Financial Services (DFS) and the Bank.
• Maintain significant client relationships and grow a dealer portfolio in a major market.
• Engage in new business development and promote a range of commercial banking services.
• Assess client needs and lead a team of product professionals to close assigned revenue objectives for DFS.

Requirements

• At least 7 - 10 years of broad-based sales experience within Commercial Dealership Sales or Sales Experience within the Dealer Captive Market.
• Extensive experience in financial analysis and a thorough understanding of dealership financial statements.
• Ability to review and opine on the strength/weaknesses of the client's Income Statement and Balance Sheet with emphasis on cash flow and liquidity.
• Expertise in assessing the financial condition of a company by analyzing ratios, the asset conversion cycle, and cash flow.
• Understanding of clients' business strategies and their needs, applying sound accounting principles to financial statements.
• Ability to leverage technology, tools, and resources for financial management.
• Experience in bringing in partners at the appropriate time to support sales opportunities.
• Knowledge of industry information to effectively pre-call plan and uncover client needs.

Nice-to-haves

• Undergraduate degree in a related field or equivalent work experience.
• Existing knowledge of the market is preferred.
• Demonstrates flexibility and openness to new ideas and change.
• Effective negotiation skills to manage client expectations around deals.
• Ability to capitalize on unexpected events to create sales opportunities.
• Identifies and shares cross-selling opportunities with partners.

Benefits

• Competitive benefits to support physical, emotional, and financial well-being.
• Flexible work arrangements to accommodate diverse employee needs.