The Senior Director (Senior Account Manager) - Automotive Finance is accountable to relationship manage a portfolio of existing Automotive clients, reviewing and enhancing financial solutions while managing risk. This role will identify growth opportunities and source new prospects regionally.
Based on an in-depth understanding of the regional market, the role will be accountable to retain, sustain and grow the assigned portfolio of existing clients. The Senior Account Manager – Automotive Finance will apply effective and professional consultative sales and business development principles, practices and techniques to identify, negotiate, structure and provide the initial underwriting for Automotive business transactions, making credit decisions and recommendations in accordance with sound credit-granting principles and ensuring compliance with internal and external requirements and regulations.
Business Delivery and Operational Effectiveness:
- Apply relationship selling and relationship management principles and techniques to an assigned portfolio of dealership finance clients, reviewing and enhancing holistic financial solutions to meet all client needs.
- Retain and maintain existing clients to ensure organic and economic revenue growth within the portfolio. Find new sales opportunities, both inside the portfolio and with new clients.
- Manage the risk of the assigned portfolio in a timely and precise manner, focusing on quality of information, analysis, profitability, and credit recommendations to ensure the profitable execution of sales credit/non-credit products and services to Automotive Finance clients. Directly manage the annual review process, interim reviews, specified quarterly reports and resolution of exceptions advised by Portfolio Management.
- Maintain accurate documentation and manage the timely validation from the Portfolio Quality Group that security continues to exist with all registrations and adherence to prescribed policies and procedures and overall safety of the Bank’s position is ensured.
- Source new client acquisitions and work with the deal team to effectively on board these new clients.
Sales and Service:
- Apply relationship selling and relationship management principles and techniques to an assigned portfolio of Automotive Finance clients, reviewing and enhancing holistic financial solutions to meet all banking needs.
- Respond to questions and/or resolve issues in the assigned portfolio, ensuring a high level of customer satisfaction.
- Leverage technology and profitability tools to identify & refer sales opportunities to ensure optimal effectiveness in the profitable delivery of Automotive Finance products and services
- Be highly visible in the market to proactively and with long-term focus, develop an internal and external network of sources to identify sales opportunities. This will include Commercial Account Managers, financial investors, financial professional and consultants
- Develop, implement, review, revise and manage a 1 – 2-year Relationship Development and Sales Plan, focusing on identifying opportunities that will strengthen and build existing profitable relationships that will result in meeting or exceeding revenue and service targets.
- Review and monitor revenue, profitability and service performance against plan, identify gaps, address accordingly and share best practices
- Develop and co-ordinate individual relationship planning, implementation and review activities with key BMO Partner Groups (All Corporate Finance LOBs, Commercial Banking, IBG, PCG, etc.) identifying opportunities to ensure client’s needs and expectations are profitably met and/or exceeded.
- Review revenue and service plans on an ongoing basis to reflect opportunities and changes in assigned portfolio and competitive regional market environment; develop an action plan, and update Vice President, Automotive Finance on any changes that may impact the Business Plan
- Protect the Bank’s assets and maintain quality of portfolio by adhering to Commercial lending processes, policies & procedures, legal and ethical requirements and regulations, audit requirements, and established risk guidelines. Ensure all business is in conformity with Bank Policies and other guideline.
- Follow processes that ensure accurate comprehensive investigation; analysis and due diligence is conducted in the documentation of acceptable transactions sourced for adjudication under the Commercial Lending Process.
- Manage risk and minimize losses through monitoring and control reports, ensuring compliance requirements, audits, and verifications are completed in accordance with Bank Policies & Procedures and all legal, regulatory and ethical requirements
- Document and follow-up on any discrepancies to procedures, with significant operational risk and escalate, as required
- 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 Commercial unilateral discretionary limits, as well as any held prescribed approval discretionary limits (i.e.: overdrafts, credit applications), ensuring credit decisions and recommendations are in accordance with sound credit-granting principles and in compliance with the Bank’s policies and related procedures (e.g. Lending Directives, Commercial Lending Policy, etc.); completing analysis; confirming security valuations; completing and approving credit applications for authorizations under Commercial Lending Policy
- Initiate engagement of appropriate CFD partners and Credit early in the process when significant deteriorating trends are evident, working with them to engage other BMO specialty roles &/or SAMU, as appropriate to ensure Bank assets are adequately protected.
- Adhere to Know Your Client 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
Knowledge & Skills:
- Minimum of a Bachelor’s degree, with a strong preference for candidates with a Master degree and/or relevant professional designations (CFA, CA, CMA, etc.)
- Working experience in the Automotive Finance industry would be an asset, but not required.
- Credit Qualified with Commercial Limits
- Credit Adjudication Experience
- C-400 or equivalent job experience
- In-depth understanding of Dealership Products, Commercial Lending Process, Commercial Lending Directive, supporting processes and technology
- Outstanding leadership and change management capabilities
- Consultative mindset
- Excellent Sales and Service Management skills
- In-depth financial and business acumen
- Expert influencing skills
- Exceptional Resource and Business Planning skills
- Outstanding risk management skills
- Strategic mindset
- Excellent networking and relationship management skills
- Superior negotiating skills
- Thorough knowledge of business valuations
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.