The Business Banking Relationship Manager will deliver an exceptional customer experience to a defined portfolio of client relationships.
The Business Banking Relationship Manager will understand client & business trends and be a source of information & expertise on Business Banking for a specific market segment.
This job will understand the local market and identify opportunities to develop new and valuable opportunities to acquire new customers for BMO Financial Group.
The Business Banking Relationship Manager will meet the lending, deposit & cash management requirements for a defined portfolio and for new prospects, as well as make referrals to internal partners to bring the best of BMO to the client in a One Bank way.
The goal is to deepen relationships by growing share of wallet and increasing the overall profitability of the portfolio.
The Business Banking Relationship Manager will meet targets for balance and revenue growth through effective management of their portfolio, referral and prospecting activity, leveraging their knowledge of their local market area, and use of leads provided by Customer Solutions.
This job will make credit recommendations and unilateral decisions in accordance with sound credit-granting principles and in compliance with Corporate Policies & Standards, Business Banking Financing Guidelines, Policies & Procedures and Standard Operating Procedures.
The Business Banking Relationship Manager will manage the risk associated with their portfolio by maintaining a high quality of due diligence and attention to detail in fulfilling the sales and service of borrowing and non-
borrowing products and services to clients and prospects. Key Accountabilities : Sales and Service
Manage the defined business banking portfolio with a focus on the customer experience delivered; retain and expand relationships to achieve portfolio retention, sales, service, and profitability objectives
Understand client needs, including those outside of Business Banking (such as personal and wealth needs), and make referrals to appropriate BMO partners to bring the best of BMO to the customer
Apply relationship management, business development, sales and referral principles and techniques to an assigned portfolio of borrowing and non-
borrowing clients to meet their banking needs and support the achievement of targets
Equally, apply these same principles to build a pipeline of borrowing, deposit and cash management prospect business
Know the local market and proactively develop relationships with centres of influence
Establish and enhance the Bank’s profile by participating in meaningful and focused business and community activities and seeking out and creating opportunities to generate new business
Establish connections with Wealth partners, business development managers, industry specialty teams and others to build sales and referral opportunities, improve share of wallet, and to acquire and retain profitable new relationships
Create opportunities when resolving problems and escalations to make each client’s experience meaningful and demonstrate that the relationship is valued
Leverage technology and tools to effectively deliver Business Banking products and services, and identify and refer profitable sales opportunities
Manage a portfolio effectively by developing & implementing a business plan focused on identifying client needs and opportunities that will result in meeting or exceeding sales and service targets.
Review and monitor sales, revenue and service performance against plan, identify gaps, and share best practices
Develop & implement an effective business development and community involvement strategy to protect and expand market share, and use an extensive external network to grow business & maintain BMO’s reputation in the community
Contribute your expertise to the Community and Divisional Business Plan by sharing and referring new business opportunities
Coordinate with key BMO partners in your local market to offer a One Bank experience to clients and prospects
Monitor your plans on an ongoing basis to reflect opportunities and changes in the assigned portfolio and competitive local market environment;
develop an action plan and advise Business Banking leaders on any changes that may impact the Community Business Plan
Protect the Bank’s assets and maintain quality of portfolio by adhering to the Commercial Lending Process, Corporate Policies & Standards, Financing Guidelines, policies & procedures, legal and ethical requirements and regulations, audit requirements, and established risk guidelines.
Ensure all Business Banking business is in conformity with these policies and guidelines.
Manage risk and minimize losses through effective portfolio management, monitoring and control. Ensure compliance requirements and verifications are completed in accordance with Bank Policies & Procedures, Financing Guidelines, Standard Operating Procedures, and all legal, regulatory and ethical requirements
Maintain an up-to-date knowledge and understanding of Business Banking products, processes, and relevant legal, regulatory and technology requirements and communicate with deal team members on these issues
Respond in a timely manner to questions and / or resolve issues raised on the assigned portfolio or prospect business.
Ensure lending recommendations are : supported by an appropriate level of diligence; include sufficient information; include reasonable and supportable rationale for proposing / recommending or approving all credit transactions;
are adequately documented, and conditions or logged items are followed up on.
Adhere to Know Your Customer Rules and Bank Policies & 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
Conflict Management & Resolution
Market Strategy & Planning
Sales & Negotiation Skills
Strategic Business Planning
Credit Qualified with Commercial Limits as appropriate
In-depth understanding of Business Banking Products, Commercial Lending Process, technology, Policies & Procedures, Financing Guidelines, and Standard Operating Procedures and supporting processes
DREAM designation may be required depending on the portfolio and market