Business Development Officer - Islamic Banking Division

Come Grow with Us and Join an Award-Winning Organization! Stearns Bank is looking for an Business Development Officer - Islamic Banking Division. We are currently seeking candidates based in the St. Cloud, MN or Minneapolis, MN area with the ability to work in office with remote capability. 

JOB SUMMARY

This position is a senior 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 Bank’s Islamic Banking Division. The primary geographic focus of this role will be Minnesota, Iowa, North Dakota and South Dakota, and will include other states nationwide as designated from time to time.   

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 IBSD 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 Islamic 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 IBSD’s 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 the IBSD and Stearns Bank as a whole.

Compliance & Education

• Ensure that IBSD’s business development practices adhere to the compliance standards of Stearns Bank as well as the standards of IBSD. 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 Bank IBSD and why they should consider migrating their deposits to the IBSD. Conduct financial literacy programs through seminars & workshops.
• Answer questions from the community on how IBSD’s 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 $2.4 billion well-capitalized, independent financial holding company based in St. Cloud, Minnesota. Specializing in nationwide small business lending and equipment financing, Stearns has maintained outstanding customer service, fast decisions, and customized finance solutions to their customers for decades.

Stearns Bank has earned itself a stellar reputation amongst customers and competitors alike. This reputation goes beyond just word-of-mouth, as Stearns has been recognized by the Independent Community Banker’s Association (ICBA) as a top-performing bank in the nation based on a 3-year average Return on Assets for banks $1 billion or more. Stearns has also been recognized by American Banker as a top-performing bank in the nation over a 3-year period for Return on Equity for banks from $2 billion to $10 billion.

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.

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.