Head of Law Firm & Professional Services Banking

Bank of Montreal•Chicago, NY

About The Position

The Head of Law Firm & Professional Services Banking is responsible for leading the strategy, development, and management of banking solutions tailored to law and professional services firms. This role has end to end accountability for an existing loan and deposit portfolio serving both firms and individual partners, while driving disciplined growth of the broader banking platform across the United States. The position may also evaluate and support strategic expansion opportunities beyond North America. The Head of Law Firm & Professional Services Banking works closely with senior leadership and cross functional teams across BMO U.S. Wealth Management to drive the rollout, governance, and continuous enhancement of Law Firm & Professional Services banking capabilities. They will ensure that offerings are market leading, scalable, and fully aligned with client needs, internal risk policies, and BMO’s long term strategic objectives. As a recognized subject matter expert, the Head of Law Firm & Professional Services Banking provides executive level leadership and technical oversight across the banking platform, including complex credit analysis, transaction structuring, credit decisioning, and ongoing portfolio risk management. The role establishes standards and best practices across firm level and partner level banking portfolios, ensuring disciplined growth, strong risk management, and consistent execution across the portfolios.

Requirements

Typically 9+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
Bachelor’s degree in Finance or related field, MBA preferred.
Extensive credit and risk expertise.
Expert knowledge and technical proficiency related to private wealth management strategies, issues and trends.
Broad and diverse background in financial service industry and expert knowledge of the banking services for the high net worth / ultra high net worth markets.
Expert knowledge of all applicable compliance and industry regulations.
If a Credit Qualifiable job, Credit Qualifications and associated credit knowledge and skills according to the credit portfolio requirements and qualification standards.
Seasoned expert with extensive industry knowledge.
Technical leader viewed as a thought leader for innovation.

Responsibilities

Provide superior customer service and portfolio management banking services, including both lending and deposits, for existing and prospective Law Firm & Professional Services clients.
Offer technical expertise for proactive credit analysis, structuring, decisions, and portfolio monitoring.
Contribute to the development of the Law Firm & Professional Services banking business plan and executes to meet all identified product objectives.
Foster a culture aligned with the company's purpose, values, and strategy, fostering diversity and inclusion.
Attracts, retains, and enables the career development of top talent, across the Law Firm & Professional Services team, including Banking Specialists, Banking Portfolio Managers, Underwriters and Banking Associates.
Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
Monitors performance results; develops action plans to resolve gaps.
Regularly connects work to BMO’s purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
Manage the preparation of new Law Firm & Professional Services banking proposals or presentations for clients/prospects.
Provides advice and support where needed with a focus on unique and complex Law Firm & Professional Services credit transactions for prospects and clients.
Assist in identifying cross-selling opportunities in conjunction with relationship managers to increase client penetration for lending, investments, and deposits.
Negotiate directly with clients on new and existing loan opportunities.
Works directly with clients alongside relationship managers in the event of deteriorating credit situations
Provide day-to-day technical support and management of loans.
Completes comprehensive analysis of the Law Firm & Professional Services loan portfolio with respect to credit risk, concentration risk, loan profitability and ad-hoc assessments as required.
Ensures effective processes and controls are in place and adhered to, minimizing risk and maintaining the overall quality of the portfolio within acceptable levels.
Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution
Oversees the maintenance and review of operating financial guidelines and policies to ensure alignment between Bank policies and the business / market requirements.
Designs and produces regular and ad-hoc reports and dashboards.
Act as a trusted advisor to senior leaders for making business decisions and implementing strategic initiatives in relation to Law Firm & Professional Services banking products.
Leverage an expert understanding of the Law Firm & Professional Services industry, including identifying challenges and recommend measures to improve organizational effectiveness.
Networks with Law Firm & Professional Services industry contacts to gather competitive insights and best practices
Lead change management programs and develop communication strategies to positively influence or change behavior.
Ensure effective processes and controls are in place to minimize risk and maintain loan portfolio quality.
Participate in assigned audits and compliance reviews, ensuring adherence to the code of conduct and ethical guidelines.
Acts as a subject matter expert on relevant lending regulations and policies
Ensures timely resolution of all client questions and concerns, both internal and external.
Protects the Bank’s assets by adhering to all banking, investment and lending regulations, policies, and procedures, legal and ethical requirements, process requirements, bank guidelines, and established risk guidelines.
Operates at a group/enterprise-wide level and serves as a senior specialist resource across BMO.