Indirect Lending Account Executive

About Working at Commerce 

Building a career here is more than just steps on a ladder. It’s about helping people find financial safety and success, helping businesses thrive, and making sure people and their money are taken care of. And our commitment doesn’t stop there. Our culture is about our people, the ones in our communities and the ones that work with us.  

Here, you’ll find opportunities to grow and learn, to connect with others, and build relationships with the people around you. You’ll have the space and resources to grow into the best version of yourself. Because our number one investment is you.

Creating an award-winning culture doesn't come easy. And after 160 years, we know Commerce Bank is only at its best when our people are. If this sounds interesting to you, keep reading and let’s talk. 

Compensation Range

Annual Salary: $62,000.00 - $73,000.00 (Amount based on relevant experience, skills, and competencies.)

About This Job

The main purpose of this job is to cultivate relationships with automobile dealers to generate indirect retail installment loan contracts for the Indirect Lending business line and to deepen banking relationships with dealers by partnering with internal staff to enable consultative team selling of commercial and business banking products and services.

Essential Functions

• Apply a consultative sales process approach to deliver high-quality sales and relationship management calls to auto dealerships in the assigned geographical territory

• Manage all aspects of the dealer relationships, including, generating retail loan volume, application efficiency (book-to-look ratio), profitability, and service level of each dealer

• Collaborate with internal partners and coordinate the promotion of additional Commerce Bank commercial products and services to the dealers

• Create and communicate weekly sales call reports to leadership and summarize activities for the current and upcoming weeks

• Prepare weekly sales activity action plans

• Develop and maintain strong relationships with internal departments that support and collaborate with the Indirect line of business, including the core commercial and floorplan teams, consumer credit underwriting, loan servicing operations, and collections teams

• Research competitor programs, activities and auto finance industry trends within the target market and share key insights and findings with business management  

• Perform other duties as assigned

Knowledge, Skills & Abilities Required

• Intermediate knowledge of the indirect lending process, including buy rates, contract rates and dealer reserve compensation

• Intermediate analytical skills to identify key dealer performance ratios, such as look-to-book or approve-to-book

• Excellent consultative sales skills with ability to overcome objections, be responsive and provide outstanding service to dealer requests

• Ability to consistently present a professional demeanor and approach

• Ability to understand auto finance industry trends and competition in their assigned market and to effectively communicate this information to business line management

• Ability to utilize industry information and internal reporting to focus effort on dealers with preferred profiles

• Ability to identify the warning signs a dealer is struggling to maintain financial stability

• Ability to maintain a valid driver’s license and meet Commerce Bank’s driving record criteria; ongoing employment may be contingent upon meeting all driving requirements

• Motivated and organized self-starter with strong attention to detail and the ability to manage multiple priorities

• Inquisitive, agile, and strong team player with excellent written, verbal and interpersonal communication skills

• Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values

• Ability to travel overnight to service all dealers within their territory

• Intermediate level proficiency with Microsoft Word, Excel, Outlook, SharePoint and Teams

Education & Experience

• Bachelor’s degree in Business, Marketing, or related field or equivalent combination of education and experience required

• 2+ years’ experience in product sales required

• 3+ years’ experience in consumer retail or indirect lending preferred

For this position, Commerce Bank will review your motor