Our client a leading asset financier for whom we have sourced a number of staff are seeking an additional mid ticket focussed Broker Manager your location is flexible UK , South or North are all viable.
Our clients focuses on transactions of £1m + that often involve issues of credit , documentation , security and structure so they are seeking an individual who can add real value to story book deals that other funders may find too time consuming or difficult to conclude.
As a consequence of the above they price on a rate for risk basis that typically seeks brokers being given a cost of funds of 6.5 to 7.0% nominal before the brokers commission.
Due to the profitability delivered from selling out at c7.0% your volume targets will be sensible typically £22m annually.
Typically 70% of our clients lending is on hard assets and 30% on soft assets.
Your role will involve inheriting and further developing existing lease brokers and working with the SLT to identify , prospect and win strategically important new relationship. The mix of the role will likely depend to an extent on your location.
Our client are a meritocracy that wants to reward and recognise success. You will be paid bonuses quarterly in arrears with accelerators paid once you have achieved your annual target.
For a performance of £30m , say c150% of target you can realistically expect to earn 75% of your salary and the potential exists to earn up to 100% of salary.
Our ideal applicant will be an experienced broker manager with a record of success that you can share with me of closing £1m+ deals and possessing a real depth of commercial experience encompassing credit, documentation , structure , security etc.
You need to be someone who the CEO of a major broker wants to put in front of their customer as they know you have gravitas and presence and will add value , as well as someone who can talk through a £5m deal with the SLT at our client knowing where the risks in a deal are and how to mitigate these risks.
We are also happy to entertain applications from those with the above skills who work for tier 1 or 2 or challenger bank asset financiers whose background has been in direct to customer driven asset finance.
In this instance you will need to convince us that you also have the relationship development and management skills to transfer to the role of a Broker Manager
However we believe the skills of working with a parent bank to elicit leads for asset finance deals are a good grounding to transfer to being a broker manager.
Whatever you precise background you need to be comfortable asking a broker to pay c7.0% for your money , if you are currently in a tier 1 environment and have been used to selling at 3.00% have a think about that before applying , you will have the technical skills but how comfortable and effective are you selling money at probably c9.0% to customer ( to include the brokers commission ) rather 3.0% ?
To £85,000 + 50% OTE potential to earn to c100% + car allowance and excellent benefits