BMO Financial Group US Private Banking Associate Credit - Portfolio Risk in United States
111 W Monroe - 115 S LaSalle
Job Family Group:
Wealth Sales & Service
Equivalent to a PBAC Grade 5, this Junior lending role supports Portfolio Bankers in underwriting new transactions and ongoing portfolio risk management and control and is an entry level position for future advancement into a Portfolio Banker or Sr. Private Banker role.
Provides a superior level of customer service and portfolio management in lending services for all existing and potential clients and in support of a team of specialists and relationship managers. Provides technical expertise for proactive credit analysis, structuring, decisions, and portfolio monitoring. Applies lending expertise to a lending and deposit portfolio of accounts or part of the lending process (e.g. underwriting, funding, monitoring).
Identifies cross-selling opportunities to increase client penetration for banking, investments and deposits.
Prepares new business proposals or presentations to clients/prospects.
Participates in activities for client meetings and account opening documentation.
Assists with the development of client communications as required.
Identifies and recommends workflow process alternatives that can lead to improved efficiency and service levels.
Ensures timely resolution of all client questions and concerns, both internal and external.
Performs client sales & service support activities as required to meet client needs and maintain overall service standards.
Determines client needs and ensures timely and accurate completion of transaction processing.
Provides after sales support and handles exceptions tactfully, accurately and efficiently in accordance with Bank policy.
Maintains detailed knowledge and understanding of the integrated private banking services and offerings and lending procedures.
Collaborates with internal and external stakeholders in order to deliver on business objectives.
Monitors and tracks performance, and addresses any issues.
Designs and produces regular and ad-hoc reports, and dashboards.
Analyzes data and information to provide insights and recommendations.
Executes set-up, maintenance, and advancement of lending products and related account administration as per guidelines.
Verifies and processes loan drawdowns, ensuring they are within the terms of the credit authorization and completion of required security documentation.
Reviews and actions overdrafts and other monitoring reports in a timely manner.
Sets up and completes margin / covenant tests within established timeframes.
Maintains control of security collateral including preparation and registration.
Identifies, diarizes, and monitors accounts for security renewals, registrations, and other expiry dates to meet compliance requirements.
Monitors and controls the integrity of lending documentation.
Collects fees applicable to credit terms and conditions or account agreement.
Provides timely, accurate service and support to bankers and specialists by completing a wide variety of credit, non-credit, and related activities.
Identifies, records and advises banker / relationship manager of any credit &/or risk management issues
Identifies opportunities to increase profitability, create capacity and reduce expenses.
Ensure timely and accurate set-up, maintenance and advance of lending products.
May focus on either after sales service, or compliance (risk management) and fulfillment services, or both.
Mitigates identified risks and makes credit recommendations/decisions in accordance with sound credit-granting principles and compliance with the Bank’s philosophy and principles outlined in corporate risk policy and supporting policies and procedures.
Identifies and escalates irregularities and discrepancies to management as per guidelines.
Participates in assigned audits and compliance reviews.
Ensures proper adherence to the code of conduct and ethical guidelines.
Follows security and safeguarding procedures and applies appropriate due diligence for the prevention of loss due to fraud, counterfeiting money laundering or defalcation in accordance with Bank policy.
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.
Focus may be on a business/group.
Thinks creatively and proposes new solutions.
Exercises judgment to identify, diagnose, and solve problems within given rules.
Works mostly independently.
Broader work or accountabilities may be assigned as needed.
Typically between 3 - 5 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
Requires Credit Qualification in accordance with the established credit qualification processes, policies, and procedures.
In-depth knowledge of personal (primarily) and commercial credit and non-credit products and services.
In-depth knowledge of lending processes and supporting policies.
In-depth knowledge of loan documentation.
Specialized knowledge from education and/or business experience.
Verbal & written communication skills - In-depth.
Collaboration & team skills - In-depth.
Analytical and problem solving skills - In-depth.
Influence skills - In-depth.
U.S. Only: This position will act as an originator of consumer loans as defined by Regulation Z, Regulation G, and the Secure and Fair Enforcement for Mortgage Licensing Act (the S.A.F.E. Act). This position will require a Federal registration with the Nationwide Mortgage Licensing System and Registry. The Bank will instruct you on the registration requirements needed to comply with this requirement. A criminal background review and credit history evaluation will be required for this position as well as restrictions on performing in a real estate agent capacity.
We’re here to help
At BMO Harris Bank we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.
As a member of the BMO Harris Bank team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.
To find out more visit us at https://jobs.bmoharris.com.
BMO Harris Bank is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. BMO Harris Bank N.A. is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.
BMO Financial Group Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $728 billion as of October 31, 2018, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.We serve Canadian clients through BMO Bank of Montreal®, our personal and commercial banking business, BMO Nesbitt Burns®*, one of Canada's leading wealth management firms, and BMO Capital Markets™, our North American investment and corporate banking division.In the United States, clients are served through BMO Harris Bank, a major U.S. Midwest personal and commercial bank, and BMO Private Bank, with wealth management offices across the United States, as well as BMO Capital Markets™, our North American investment and corporate banking division.We help our customers make money make sense by delivering the broadest range of financial services through a single point of contact. Our financial service professionals provide access to any services our customers require across the entire enterprise.
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