Director, Senior Private Banker - BMO Family Office

BMO•Newport Beach, CA

1d•$120,000 - $250,000

About The Position

Develops, manages, retains and grows profitable banking relationships with high-net-worth clients and prospects. Assists in designing, developing and delivering solutions for clients’ complex balance sheet management needs, providing expert service and highly personalized interaction. Develops and executes a business plan to grow banking revenue profitably while adhering to the Bank’s risk tolerance, and works collaboratively with branch and regional teams to identify and make referrals. The role serves as a trusted advisor to high- and ultra-high-net-worth clients, delivering customized financial and banking advice through a consultative approach. It leads deal teams and collaborates with clients’ professional advisors to develop suitable credit and tax-favourable structures, while managing relationship retention and growth through ongoing contact and reviews of client needs. The position also operates at a group or enterprise-wide level as a specialist resource to senior leaders and stakeholders. It contributes to strategic planning and execution, analyzes business issues and performance, supports operational programs, and provides training and guidance to other employees. The role is responsible for sound risk management, appropriate documentation, regulatory and policy compliance, and the profitability and service quality of its assigned portfolio. Typically requires 7+ years of relevant experience and a post-secondary degree in a related field or an equivalent combination of education and experience. The role must meet licensing and certification requirements for the applicable team, branch and jurisdiction, as well as credit qualification standards. In the U.S., the position originates consumer loans and requires Federal registration with the Nationwide Mortgage Licensing System and Registry; a criminal background review and credit history evaluation are also required, along with restrictions on working as a real estate agent. The listed annual salary range is $120,000–$250,000. Compensation may vary based on location, skills, experience, education and qualifications, and may include commission, performance-based incentives, discretionary bonuses and other rewards.

Requirements

Typically 7+ years of relevant experience and a post-secondary degree in a related field of study, or an equivalent combination of education and experience.
Meet licensing and certification requirements for the team, branch and jurisdiction where the mandate is fulfilled.
Meet credit qualification requirements and possess associated credit knowledge and skills in accordance with established standards, policies and procedures.
In-depth knowledge of Personal and Commercial credit and non-credit products.
In-depth sales and client service skills.
In-depth business development skills with a successful track record.
Ability to lead in-depth planning conversations.
Expert relationship management skills.
Ability to work independently and resolve complex or ambiguous issues or situations.
Seasoned professional with a combination of education, experience and industry knowledge.
In-depth or expert verbal and written communication skills.
In-depth or expert analytical and problem-solving skills.
In-depth or expert influence skills.
In-depth or expert collaboration and team skills, with a focus on cross-group collaboration.
Ability to manage ambiguity.
In-depth or expert data-driven decision-making skills.
For U.S. roles: Federal registration with the Nationwide Mortgage Licensing System and Registry is required; a criminal background review and credit history evaluation are required, and restrictions apply to performing in a real estate agent capacity.

Responsibilities

Develop, manage, retain and grow profitable banking relationships with high-net-worth clients and prospects.
Design, develop and deliver solutions for clients’ complex balance sheet management needs, providing expert service and personalized interaction.
Develop and execute a business plan to grow banking revenue profitably while adhering to the Bank’s risk tolerance.
Build internal and external referral networks that generate prospects and increase market visibility.
Use a planning-based, deal-team approach to develop and execute portfolio growth and retention strategies.
Provide superior service to an assigned portfolio of high- and ultra-high-net-worth clients and work to become their trusted advisor.
Develop relationships with clients’ professional advisors to create appropriate credit and tax-favourable structures.
Lead deal teams when acting as the lead relationship manager.
Retain and expand client relationships through a contact strategy and ongoing reviews of clients’ banking needs.
Make recommendations to senior leaders on business strategy and new initiatives, and identify emerging issues and trends.
Apply financial planning principles in strategies designed to help clients meet their needs.
Recommend business priorities, advise on resource requirements and develop roadmaps for strategic execution.
Partner with leadership on strategic direction and complex line-of-business projects.
Independently analyze and assess strategic issues and support initiatives with internal and external stakeholders.
Serve as a subject matter expert and build effective relationships with stakeholders, ensuring alignment.
Analyze data and information to provide insights and recommendations on strategic problems.
Monitor and track performance, address issues, and lead operational programs, adapting execution as needed to ensure quality.
Develop and negotiate complex credit strategies and ensure appropriate remuneration.
Provide day-to-day training and support to employees, including guidance on credit and client issues and operational processes.
Ensure information used for decisions is of high quality.
Contribute to portfolio profitability through expense control, profitable pricing and appropriate pricing negotiations.
Provide integrated, customized advice using a consultative approach, and apply financial planning concepts to clients’ personal and financial situations.
Act as an ambassador for BMO and enhance its reputation in the market.
Comply with policies, procedures, legal and ethical requirements, and regulations, including requirements concerning conflicts of interest, customer information, securities trading, anti-money laundering, privacy and disclosure of outside business activities.
Maintain current knowledge of banking products, processes, and relevant legal, regulatory and technology requirements.
Document lending and non-lending decisions and prospecting activities; respond to and resolve questions or issues from audits, quality checks and reviews.
Manage risk and minimize losses through monitoring and control reports, completing verifications in accordance with guidelines.
Document and follow up on procedural discrepancies and operational risks, escalating them as required.
Perform sales and service support activities to meet client needs and maintain service levels.
Build rapport and client confidence to establish credibility and trust.
Apply expertise and creative thinking to complex, non-routine or ambiguous situations, and implement changes in response to shifting trends.
Apply the Risk Management Framework and make sound, risk-informed decisions consistent with business strategy, approved risk appetite, policies, laws and regulations.
Perform broader work or accountabilities as assigned.