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  • Troy, MI 49459

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EFG Direct Originations Officer III

Flagstar Bank • Troy, MI

Posted 22 days ago

Job Snapshot

Full-Time
Other Great Industries
Finance
1

Applicant

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Job Description


Position Title

EFG Direct Originations Officer III

Location

Headquarters-Troy, MI

Job Summary

The Equipment Finance Officer (EFO) is responsible for creating and executing a marketing plan to achieve specific target volume objective within one of Flagstar Bank's Markets.

The EFO develops new equipment finance opportunities through external business development activities and well as internal referral sources. The EFO is expected to develop financial solutions for capital intensive customers and prospects that conform to Flagstar’s commercial and EFG underwriting standards.

The EFO is expected to:
1. Meet or exceed production, spread, and fee goals
2. Independently develop new customer opportunities
3. Maintain existing relationships
4. Provide regular reporting of business development activities
5. Present new credit requests in deal screen and credit committee
6. Mastery in product: structure, pricing, and use
7. Working knowledge of sales, use, and property tax
8. Prepare complete document request packages within EFG standards
9. Negotiate terms and conditions within EFG Standards
10. Assist in the Closing of loan and lease agreements

The EFO is expected to support portfolio and credit managers by assisting:
1. Formulating transaction summaries
2. Assist with the collection of information for underwriting
3. Work with asset managers (or appraisers) to prepare valuation analysis for credit approvals and portfolio management
4. Assist portfolio and credit managers when information is needed from EFG Systems
5. Assist portfolio managers with monitoring status of EFG portfolio to ensure conformity with terms
6. Assist operations and processing areas to ensure payments are collected and recorded properly
7. Assist with purchase or terminations on existing Leases and Loans

The EFO reports directly to the EFG Segment Manager.

Job Responsibilities:

  • Business Development – Production.  Developing business to meet or exceed production, spread, and fee goals.  Developing new customer opportunities and maintaining existing relationships.  Assisting in the Closing of loan and lease agreements.  Providing regular reporting of business development opportunities.
  • Profitability (spread, non-interest income) target on new production.  Ensuring profitability of deals and within EFG standards by presenting new credit requests in deal screen and credit committee, preparing complete document request packages within EFG standards; and negotiating terms and conditions within EFG standards.
  • Underwriting and portfolio support.  Providing Underwriting and portfolio support by assisting with collecting information needed for underwriting and/or EFG systems; working with asset managers (or appraisers) to prepare valuation analysis for credit approvals and portfolio management; assisting operations with ensuring payments are collected and recorded properly; assisting portfolio managers with monitoring the status of the EFG portfolio to ensure conformity with terms; and assisting purchase or termination on existing Leases and Loans.
  • Ensure compliance with applicable federal, state and local laws and regulations.  Complete all required compliance training.  Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures.  Take responsibility to keep up to date with changing regulations and policies.

Job Requirements:

  • Bachelor’s Degree required in Business Administration, Economics, Accounting, Taxation or Finance.  Master’s Degree preferred in the fields previously listed.
  • 10+ years of Commercial Equipment Financing experience
  • Handles transactions with highest level of complexity
  • Proven business development track record of outperforming goals
  • Ability to conceptualize and implement effective new business strategies
  • Extensive network of outside referral sources for new business.
  • Strong credit and financial analysis skills (prefer Bank training program)
  • Strong negotiation skills
  • Excellent communication skills, both verbal and written
  • Previous experience with lease pricing software (e.g., SuperTrump / InfoAnalysis)
  • Working knowledge of factors affecting Tax Leases
  • Working knowledge of off balance sheet lease accounting
  • Working knowledge of Microsoft Office, and CRM

Internal Use Only:  Band D



Job ID: 02158
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