A. Client Relationship Management
Accountable for the quality of opportunity, quality of information obtained to support decisions, and the profitability of each relationship managed.
Provide superior service to an assigned portfolio of high net worth clients with an objective of becoming their trusted advisor.
Apply relationship management principles and techniques to an assigned portfolio of clients and to prospects, providing a unique, value-added client experience in the development of integrated financial solutions to meet client needs.
Provide proactive, integrated and customized advice, and create and implement planning strategies to help clients achieve their financial and personal goals.
Maintain strong knowledge and understanding of financial planning principles, incorporating this approach into each client’s personal financial situation in the development and implementation of planning strategies to help clients achieve their financial and personal goals.
Demonstrate a consultative and collaborative selling approach in customer conversations, acting as a lead or a secondary member of a client deal team in the facilitation of the desired BMO Private Banking client experience and to achieve business goals.
Manage the transition of clients to and from the portfolio using defined processes.
B. Business Delivery
Recommend plans for and work to achieve annual performance objectives and results for business and personal growth.
Provide day-to-day training and support to other banking personnel. Training and support may include providing guidance on credit-related issues, specific client issues and queries, and assistance with operational processes.
Use financial planning skills to effectively apply financial planning concepts against each client’s personal and financial situation.
Maintain up-to-date knowledge and understanding of banking products, processes, and relevant legal, regulatory and technology requirements.
Contribute to the assigned portfolio’s profitability through strict control of non-interest expense items and profitable pricing practices for credit and non-credit products and services.
Provide timely and effective problem resolution, escalating customer issues as necessary.
Maintain effective relationships with Private Banking Officers, Professional Services Managers and other deal team partners to build a collaborative working environment that focuses on client needs and the delivery of the desired client experience
C. Risk Management and Control
Protect the Bank’s assets by adhering to all policies and procedures, lending processes, legal and ethical requirements and regulations, audit requirements, and established risk guidelines. Ensure all business is in conformity with Bank Policies and other guidelines.
Respond to questions and resolve issues raised on assigned portfolio, through audits and quality checks to ensure lending decisions are adequately documented, clearly communicated and followed.
Manage risk and minimize losses through monitoring and control reports, ensuring compliance requirements audits and verifications are completed in accordance with Bank Policies & Procedures and all legal, regulatory and ethical requirements.
Document and follow-up on any discrepancies to procedures, with significant operational risk and escalate.
Adhere to Know Your Customer standards, policies and procedures for the prevention of loss due to fraud, counterfeiting, money laundering, or defalcation; identify and report suspicious and other reportable transactions or patterns of activity that are suspected to be related to money laundering.
Maintain up-to-date knowledge and understanding of all banking products, processes, and relevant legal, regulatory and technology requirements.
Adhere to all aspects of First Principles our code of business conduct and ethics, including individual accountability as it relates to potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities.
Mitigate risks identified and make credit recommendations and decisions that are in accordance with sound credit-granting principles and in compliance with the Bank’s philosophy and principles as outlined in Corporate Risk Policy as well as appropriate supporting policies and procedures.
Exercise individually held unilateral discretionary limits, as well as any held prescribed approval discretionary limits, ensuring credit decisions and recommendations are in accordance with sound credit-granting principles and in compliance with the Bank’s policies and related procedures; completing analysis; confirming security valuations; completing and approving credit applications for authorizations under Consumer or Commercial lending policies.
Liaise with or escalate to appropriate BMO Private Banking partners and leadership and Credit early in the process when significant deteriorating trends are evident, working with them to engage other BMO specialty roles or Collections/ as appropriate to ensure Bank assets are adequately protected.
Respect the Bank’s credit process and is accountable for proper structuring of credit transactions, for provision of accurate and complete data to the credit system, for ensuring appropriate investigation to minimize risk to the Bank, and for the quality of credit granting and loan documentation.
D. Business Development
Develop a 12 to 18 month rolling plan to achieve targets.
Work in a deal team environment with other professionals using planning based approach to develop, maintain and execute an ongoing growth and retention strategy for clients within the portfolio. When acting a lead relationship manager, assemble and lead deal team participation of professionals appropriate to client needs.
Continuously look for ways to enhance the BMO Private Banking and BMO Financial Group presence in the marketplace by crafting innovative business development strategies and work closely with other BMO Private Banking and BMO Financial Group professionals in support of their business development activities.
Develop profitable new business leads through extensive internal l networks. Act as an ambassador to assist BMO Financial Group in enhancing its marketplace presence and growing its services in the community.
Provide a strong level of understanding of the financial services, financial planning and investment management industries to effectively implement appropriate business development strategies.
Negotiate appropriate pricing using discretion where required to build a profitable portfolio
Enhance Private Bank’s profile by participating in meaningful and focused business and community activities, seeking out and creating opportunities to generate new Private Banking business
Undergraduate University degree or equivalent job-related experience
3 to 5 years retail banking experience
Personal and Commercial lending experience required
Financial Planning designation or in progress.
1 to 2 years high net worth client experience in business development
Basic experience in planning conversations
Working sales and client service skills
Working business development skills with successful track record
Working level interpersonal and communication skills
Analytical thinking in a systematic way and developing solutions
In-depth relationship management skills to effectively manage relationships across multiple levels of the organization, across lines of business, across various BMO Financial Group partners, and with non-BMO contacts and sources.
Able to work independently, resolving complex or ambiguous issues or situations.
Bank of Montreal is bilingual -- it speaks Canadian and American business. Also known as BMO Financial Group (or, more familiarly, BMO, pronounced "bee-moe"), the company is one of Canada's oldest and biggest banks. Serving individuals, government agencies, and businesses large and small, it has about 900 branches that provide deposits, mortgages and loans, life insurance, credit cards, investments, and wealth management services.
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