The Lending Specialist takes a proactive and client-focused approach to provide Lead Relationship Managers with in-depth client discovery, comprehensive credit analysis and credit writing, effective structuring, quality decisions as well as accurate loan drawdown, effective portfolio monitoring, and correction or advice of deficiencies and exceptions on their portfolios. In cases where the Lead Relationship Manager is not credit qualified, this role has accountability for directly managing the banking relationship.
Following standard processes and leveraging credit expertise, this specialist role provides advice and support where needed with a focus on unique and complex credit transactions so that Lead Relationship Managers can focus on growing revenue from prospects and clients.
- Business Delivery and Operations
- Risk Management and Control
- Change and Innovation
Business Delivery and Operations
- Follow consistent workflow processes to ensure timely and accurate turnaround for the client.
- Where necessary meet with client in person to complete loan applications/ annual reviews.
- Complete comprehensive risk analysis, work with client strategy team to design appropriate credit structure and terms; prepare and recommend credit applications within prescribed limits.
- Submit loan documents for drawdown ensuring the completeness and accuracy of loan security documentation,
- Where requested provide authorization for loan drawdowns ensuring completeness and accuracy of loan security documentation, conditions precedent, margins and compliance tests as per terms and conditions of authorized credit; assess significance of any security or condition shortfalls to determine required action including escalation in situations where shortfall materially impacts credit risk.
- Directly manage scheduled credit reviews and credit memorandums.
- Monitor and action specified personal and commercial loan reports including regularization of overdrafts and identification and resolution of exceptions.
- Maintain accurate documentation and ensure that security continues to be perfected.
- Investigate, analyze and resolve client issues in a timely, efficient and effective manner ensuring the highest level of client satisfaction.
- Responsible for identifying revenue and profitability shortfalls.
- Participate in collaborative programs and strategies to contribute to the growth and profitability of team portfolios.
- Project a professional and consistent image by adhering to organization’s brand, corporate identity and standards.
- Contribute to the client experience as a member of a highly functional deal team, with accountability to attend joint client meetings in support of the Lead Relationship Manager (as appropriate)
- Recommend and monitor pricing arrangements for Treasury Accounts, fee arrangements, and other pricing analysis and recommendations in accordance with the Bank’s Policies & Procedures and other published instructions.
- Fulfill requests for non-credit related activities, as requested.
Risk Management and Control
- Manage the risk of assigned portfolios in a timely and precise manner, focusing on quality of information, analysis, and credit recommendations to ensure the profitable execution of sale of credit products and services to Platinum Banking clients.
- Follow processes to ensure accurate and comprehensive investigation, analysis and due diligence is conducted under the Personal and Commercial Lending Processes.
- Present complex deals to the New Business Committee
- Manage risk and minimize losses through monitoring and control reports, ensuring that compliance requirements, audits and verifications are completed in accordance with Bank Policies and Procedures and all legal, regulatory and ethical requirements.
- Manage overdue credit reviews ensuring any potential risks associated with delays are addressed appropriately.
- Proactively identify risks in the portfolios and conduct risk analysis to share with Private Bankers for discussion with clients as appropriate.
- Document and follow-up on discrepancies that represent significant operational risk and escalate as required.
- Initiate the engagement of appropriate BMO Harris Private Banking partners and Credit early in the process when significant deteriorating trends are evident, working with them to engage other BMO specialty roles and/or Collections/SAMU, as appropriate to ensure Bank assets are adequately protected.
- Maintain up-to-date knowledge and understanding of products, processes, and relevant legal, regulatory and technology requirements through audits and quality checks, to ensure decisions are adequately documented and clearly communicated.
- Exercise individually held personal and commercial unilateral discretionary limits, as well as any held prescribed approval discretionary limits (i.e. overdraft, credit applications) ensuring credit decisions and recommendations 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.
- Ensure adherence 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 client information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities.
- Follow security and safeguarding procedures and apply appropriate due diligence in accordance with Bank policy for the prevention of loss due to fraud, robbery, counterfeiting, money laundering or defalcation.
- Protect the Bank’s assets and maintain portfolio quality by adhering to all everyday banking, business banking, investment and lending regulations, policies and procedures, legal and ethical requirements, lending process requirements and established risk guidelines.
Change and Innovation
- Support BMO Harris Private Banking sales process and client experience, identifying gaps, issues and best practices.
- Increase the effectiveness and efficiency of existing operational methods and workflows by identifying, recommending and implementing process improvements.
- Develop suggestions and alternatives that meet or exceed the client’s objectives.
- Embrace and support the process of change within BMO Harris Private Banking.
- Fulfill project-related activities as requested.
- Maintain effective relationships with Private Bankers and other deal team partners to build a collaborative working environment that focuses on client needs and the delivery of the desired client experience.
- Ensure the integrity of the integrated offer and a client-centred culture is supported and enhanced through the delivery of Banking products.
- Develop and coordinate relationship activities with deal team members and strategy teams.
- Support team members in handling workflow and volume during peak periods to ensure effective completion of work.
- Assist Private Bankers in the development of lending, financial planning and other wealth management solutions as required.
- Accompany and support the Private Banker or Manager, Banking or Regional Director of Banking as required with client interviews and relationship building.
- As required by the Senior Manager, Professional Services, Regional Director, Banking or Market Manager:
- Develop and share credit expertise with colleagues to continually improve the overall abilities of the regional team.
- Undergraduate University Degree or equivalent
- 7 - 10 years banking experience
- Expert knowledge of BHPB processes & procedures, and interrelationships
- In-depth knowledge of technical aspects of BMO products and services
- In-depth understanding of risk management parameters
- Working knowledge of personal and commercial credit and non-credit products
- Working knowledge of loan audit & compliance requirements
- In-depth skills in client discovery and interviewing
- Sales experience with ultra-high net worth clients
- In-depth credit expertise as defined by the maximum Discretionary Limits and Credit Qualifications Standards in P&P 100-20#17
- Completion of BMO HPB Advanced Lending Seminar or equivalent job experience
- Personal and commercial discretionary limits
- Experience in providing credit training to others within development plan timeframes
- Experience providing recommendations on complex client solutions and credit structure
- Experience maintaining portfolio quality on portfolios with a predominance of complex clients
- Impacts and influences others at an in-depth level
- Advanced communication and relationship development skills
- Planning and organizing skills and ability to manage multiple priorities
- Self motivated and a team player
- Presents professional image to ultra-high net worth clients and positions role with the deal team
- Strong client service orientation
We’re here to help
At BMO we have a shared purpose; we put the customer at the centre of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank.
As a member of the BMO 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://bmocareers.com.
BMO 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. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.