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Healthcare Business Development Officer - BostonApply Now Locations: Boston, Massachusetts Job Function: Commercial Banking Employee Status: Regular Job ID: 19121544
The Healthcare Business Development Officer is a strategic professional who stays abreast of developments within the healthcare industry and contributes to directional strategy by considering their application in own job and the business. The Business Development officer will execute integrated sales, service and relationship strategies to support growth and retention of Healthcare customers for US Retail Business Banking. This role will be responsible for developing new-to-bank business relationships with healthcare companies and referral sources as well as cross-marketing of services to existing clients through segment-based sales plans to achieve revenue growth targets and maximize operating capabilities and profitability. Requires basic to advance commercial/credit awareness. There are typically multiple people within the business that provide the same level of subject matter expertise. Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and occasional external customers. Work impacts an entire area, which eventually affects the overall performance and effectiveness of the sub-function/job family. The Retail Banking Business segment includes those clients with revenues from $1 to $10 million annually.
- Utilize all possible channels to prospect quality new-to-bank healthcare clients or business ventures in support of specific business growth.
- Manage sales cycle including pipeline development, due diligence research, support of deal negotiation and/or closure as well as project/program management and implementation.
- Responsible for the entire process of new healthcare client acquisition from identifying prospects, delivering customized financial service solutions to completing facility availment.
- Actively identify and participate in trade shows, networking events, study groups, associations to further your own as well as the Citi’s Healthcare reputation in the community.
- Partner with the National Healthcare Business Development Officer and the Senior Retail Business Bankers in the Division to onboard quality Healthcare Relationships through joint business development efforts.
- Through extensive involvement, create local community awareness that the bank is critically focused on partnering in the healthcare community and providing broad, multi-product banking solutions to healthcare companies housed in the marketplace.
- Facilitate client on-boarding process by resolving operations and service issues that may arise, and adhering to internal control policies.
- Work on preparing credit assessments and monitoring risk issues by liaising with clients on any document deficiency or requests for more information.
- Demonstrate ability to be subject matter expert and act as a consultant to Internal / External referral sources.
- Work with senior management to structure and negotiate more complex deals and financial requirements.
- Ensure all KYC and AML as well as other compliance norms are strictly adhered to.
- Maintain knowledge of industry and competitive landscape, and provide timely insights and advice for uncovering and enhancing business opportunities.
- Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.
- Bachelor's degree in finance, economics, commerce, engineering or related disciplines
- 6-10 years relevant experience in the business baking industry - preferably at least 5 years in healthcare
- Excellent record of proactively building relationships with product and credit review/approval partners
- Solid knowledge in in treasury and commercial credit products
- Bachelors degree
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
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