Business Development Manager

Meridian OneCap Credit Corp. • Toronto, ON

4d • Hybrid

About The Position

Meridian OneCap Credit Corp (MOC) is an equipment and finance company providing a broad range of financial services to businesses throughout Canada. Our parent, Meridian Credit Union, has over 70 years of banking history and is Ontario’s largest credit union. MOC is a provider of asset financing in the form of capital leases. We are committed to being the best provider of specialized equipment financing services to strategic vendors across Canada. Our service-oriented culture and exceptional group of professionals serves to provide our strategic partners with value-added service and constructive solutions. Meridian OneCap Credit Corp provides customized leasing solutions both to help companies sell equipment and to companies that have chosen to lease equipment, rather than buy. For manufacturers and vendors, we enable you to provide your customers with a value-added service that helps your customers acquire equipment efficiently and gives your company a competitive edge. And for the end user, we can help you to preserve working capital in your business, while benefiting now from the use of the equipment. Our team is known as industry leaders. We’ve earned our reputation through consistent delivery of financing programs with the most efficient transaction process and superior customer service. With the largest direct sales force within the Canadian market, it’s no wonder our customer service is unparalleled.

Requirements

• Detailed knowledge of all aspects of equipment finance and leasing preferred - specifically with special emphasis on accounting, taxation, credit, pricing and security.
• Solid understanding of the leasing industry, competitors, pricing environment, security requirements and product offerings.
• Strong understanding of financial statements, financial analysis and credit structuring typically found in the Commercial Lending environment.
• Proficient understanding of lease accounting and tax implications from lessee and lessor perspective.
• Proficient understanding of financial theory of lease vs. buy analysis for modeling different finance structure options.
• Strong interpersonal skills to work with client’s CFOs & Controllers as well as internal Bank staff such as VP's, Directors, Sales Directors, Administrative / Operations staff. Identifies and resolves moderately complex issues.
• High level of personal motivation, energy and drive.
• Accepts responsibility for positive end results.
• Collaborate style and persuasive interpersonal skills; ability to influence others.
• Expert sales/closing skills.
• Thorough knowledge of relationship building and teamwork skills
• Aptitude for mathematical functions including financial calculations.
• Proficient with Microsoft operating systems including Word, Excel, Outlook and the Internet.

Nice To Haves

• Experience with low/no code tools like the Microsoft Power Platform and generative AI productivity tools like Microsoft Copilot is considered an asset
• Embedding & leveraging technology – Confidence and willingness to learn and integrate AI and emerging technologies into new ways of working.

Responsibilities

• Acquires good quality and profitable equipment finance and lease transactions by identifying likely prospects and implementing an aggressive calling program within the assigned area
• Develops prospective equipment dealer accounts that have the highest potential of profitability; Identifies, structures, and closes leases and other equipment finance transactions with ONECAP prospects.
• Develops new leasing business independently, meeting with larger and more complex prospects in a designated region to a larger sales goal with an increasing emphasis on developing business from outside contacts.
• Makes prospect calls independently to sell leasing services and cross sell other Meridian products and services.
• Gathers prospect financial and general business information independently for larger and more complex accounts.
• Explains wide array of leasing alternatives and guides prospects to best choices based on leasing experience, understanding and individual prospect situations. Answers questions and follows up on information requests; compiles necessary information to begin financial analysis.
• Provides support and assistance to credit decision process and communicates credit decisions to Customers.
• Negotiates specific lease terms and conditions for more complex leases within parameters defined by credit decisions. Finalizes lease agreements with prospects and closes sales.
• Maintains regular contact with vendors who sell regular amounts of equipment, ensuring MOCC is given every opportunity to quote on client's equipment finance and lease requirements.
• Proactively assesses and clarifies client’s needs and wants and provides appropriate levels of service.
• Represents MOCC at appropriate industry and community functions when required.
• Establishes productive, professional relationships with key clients, both internally and externally.
• Monitors status of current lease portfolio to ensure conformity with terms; ensures necessary documentation is completed and forwarded for processing; supports Sales Coordinators as required to ensure documentation requirements are met with operations and processing areas to ensure lease payments are collected and recorded.
• Plans and collaborates cross functionally to achieve sales objectives.
• Prepares an annual business plan outlining objectives and strategies on how new business will be secured. Plan to be reviewed on a quarterly basis.
• Monitors competition by gathering current marketplace information on pricing and promotions.
• Provides support to existing sales team members when they are absent/unavailable.
• Actively manages and effectively follows-up proposals to both vendors and end users.
• Maintains close contact with credit team to communicate any material changes within the vendor or prospective lessee base.
• Participates and ensures that the correct required documentation is delivered both externally and internally.
• Communicates effectively with Sales Coordinators and other members of the credit and operations team on processing of transactions.
• Participates and provides technical expertise of required documentation, ensuring accuracy as it pertains to the structure, insurance, security and equipment financed. Responsible to vet lease documents prepared by staff prior to obtaining client signatures.
• Ensures compliance with all provincial and federal regulations and internal company policies, including but not limited to Reducing the Risk (Anti-Money Laundering), Know Your Customer, and Information Security & Privacy Recommend enhancements or improvements to our current processes to help increase efficiency and/or service levels and eliminate wasted time and effort in the workplace.
• Maintains current call reporting / activity log.
• Maintains current pipeline of sales opportunities.
• Prepares in-depth management reports summarizing leasing activity.
• Assists in monthly / quarterly reports to regional leaders highlighting sales success, best practices, funding, pipeline, general update of leasing industry
• Cross Selling of Meridian Credit Union products, focusing on offerings from Small Business Banking, Commercial Banking and Wealth Management

Benefits

• Base Salary: $45,000. In addition to base salary, this role offers a high-variable compensation model designed to reward performance and business growth. A first-year onboarding guarantee is available for qualified candidates, helping support income while building a portfolio and establishing their territory. Successful candidates can expect significant earning potential, with many achieving six-figure earnings and top performers earning substantially more through the achievement of sales and business objectives.
• We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!
• We provide you with the tools and technology needed to delight your candidates and clients!
• You'll get to work with and learn from diverse industry leaders, who have hailed from top organizations around the world
• Hybrid work arrangements with in-person office time to collaborate, innovate and build relationships with your colleagues
• This isn't your typical "corporate" job. We work hard and we have fun!

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed