Factoring Development Rep 4 (Business Development Officer)

Job Description

Wells Fargo Capital Finance (WFCF) is one of the top lead arrangers of asset-based loans in the U.S. with a large and diversified portfolio of close to 2,400 customers and more than $33 billion in loans outstanding. WFCF offers traditional asset-based financing, specialized senior secured financing, accounts receivable financing, purchase order financing, and supply chain financing to a wide range of companies throughout the United States, Canada and the United Kingdom

The Business Development Officer is responsible for generating a desirable volume of new Factoring and Asset Based clients and will develop production referral sources within the Northeast. She/he will analyze prospective prospects , including the evaluation of asset based structure, assist underwriting and present loan approvals to senior management

The primary responsibility is to identify and close Factoring and Asset-Based working capital loans in amounts between $1 and $100 million. The individual will work with underwriters and the new business manager to close transactions. Other responsibilities include:

1) Originate transactions through direct calling on prospects;

2) Strong customer focus;

3) Close new transactions (with help of experienced underwriting staff);

4) Develop and conduct prospect presentations and proposals;

5) Develop and maintain prospect and select intermediary relationships;

6) Cross sell Wells Fargo products.

Team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following, and adhering to and if applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.

Required Qualifications

  • 6+ years of commercial lending experience

Desired Qualifications

  • A BS/BA degree or higher
  • Excellent verbal, written, and interpersonal communication skills
  • Ability to communicate asset based lending or factoring credit products
  • Extensive knowledge and understanding of analysis of lending opportunities

Other Desired Qualifications

  • 10+ years' experience in Factoring / Asset-Based Lending (Origination, Underwriting or Portfolio Management)
  • Experience in staffing and consumer products industry segments
  • Experience, contacts and demonstrated ability in sourcing factoring/ABL transactions;
  • Works collaboratively to achieve team goals and outcomes
  • Demonstrated negotiation and influencing skills
  • Strong problem solving skills


All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.

Relevant military experience is considered for veterans and transitioning service men and women.

Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.


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