At our company, we have been helping our customers and communities for over 125 years. In July 2011, our parent company BMO Financial Group acquired Marshall & Ilsley Corporation (M&I). Over the next year, we will be working to bring the best of Harris and M&I together under the BMO Harris Bank name. Working with us means being part of a team of talented, passionate individuals with a shared focus on working together to deliver great customer experiences. We stand behind your success with the support you need to turn your potential into performance.
BMO Harris Bank is committed to an inclusive, equitable and accessible workplace. We are an Equal Opportunity Employer. By embracing diversity, we gain strength through our people and our perspectives.
MANDATE
This is a Senior Deal Specialist position supporting the core Commercial lending portfolio. Primary responsibilities include drafting loan documentation and reviewing attorney prepared loan documentation, ensuring the terms of the deal reflect the credit approval, working closely with Relationship Managers and the Loan Servicing team to coordinate new deal closings and amendments, including structuring the commitments within the loan systems.
Manage and/or monitor a complex portfolio of work representing a significant amount of risk. Provide services and/or support in one or more product/ process/ control areas within a specific product group, and ensure adherence to related regulatory and Bank policies and procedures (P&Ps). Accountable for functions that require specialized handling and skills, act as the key escalation point for product group business challenges, and apply in-depth product knowledge to ensure consistency and effectiveness of service and support and effective management of risk and controls.
Act as a key control over critical business activities related to the area of expertise, with a significant involvement in analyzing and advising on the business implications of options, to facilitate effective and comprehensive understanding of business decisions. This role meets operational and financial objectives within a six- to twelve-month time horizon.
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KEY AREAS OF ACCOUNTABILITY
A. Product & Process
B. Risk & Control
C. Business Performance Management
ACCOUNTABILITIES
A. Product & Process
¿ Manage and resolve day-to-day issues specific to area(s) of expertise, including resolving complex internal business partner and/or external customer issues; escalate more complex issues to the manager if necessary.
¿ Coordinate and schedule work flow which leads to approving transactions, and act as the main escalation point for business challenges, as delegated.
¿ Assign work to team/ staff members, ensure adequate work flow and meet various cut-off times during the day, as delegated.
¿ Manage and monitor a complex portfolio of work representing a significant amount of risk.
¿ Act in an advisory capacity, as a subject matter expert (SME), to senior managers on the implications of proposed business decisions related to area(s) of expertise.
¿ Lead activities, as a SME, for new work related to the assigned function.
¿ Participate in projects related to area(s) of expertise.
¿ Provide guidance and support to related business units regarding procedures for area(s) of expertise.
¿ Maintain relationships with industry contacts (internal and external), regulatory officials and external consultants for purposes of enhancing business effectiveness within the scope of accountability.
¿ Provide timely analysis of information and reports on assigned area(s) of expertise to ensure compliance with terms and conditions and ongoing maintenance of risk within acceptable levels.
¿ Continuously assess and improve the operational effectiveness of the portfolio within prescribed limits.
¿ Consult with experts inside and/or outside the business unit regarding complex or unusual transactions and developments concerning area(s) of expertise.
¿ Identify and recommend business process improvement efforts related to area(s) of expertise.
¿ Resolve operating/ technical problems within area(s) of expertise. Participate in resolution of problems outside of direct authority.
¿ Handle and resolve complex matters, core business critical issues, disputes, queries and complaints from internal business partners and external customers.
¿ Represent BMO on industry committees.
B. R
isk & Control
¿ Maintain key controls and review processes, where applicable, to ensure operating integrity, comply with internal and external regulators, involving an understanding of regulatory and compliance requirements as prescribed for the business unit; provide recommendations and implement corrective actions to ensure adherence as required.
¿ Identify potential risk situations within the scope of work (e.g., risk assessments), make recommendations and/or escalate to the manager, where appropriate, and ensure contingency plans exist.
¿ Develop, document and maintain standards, processes and controls in area(s) of expertise in order to minimize loss/ risk, ensure all regulatory requirements are met, and safeguard the assets of the Bank.
¿ Understand risks inherent in area(s) of expertise and take appropriate actions, including accuracy and safeguarding of all documentation and any other requirements to ensure operational integrity is maintained within the business.
¿ Ensure adherence to all aspects of FirstPrinciples, Our Code of Business Conduct and Ethics Corporate Policy, as well as all applicable legislation, regulatory rules and requirements, and Bank standards, policies and procedures (P&Ps) for such things as potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities.
¿ Ensure strict confidentiality is maintained for both customer and Bank information to protect the customer and the Bank and to ensure compliance with Bank P&Ps.
¿ Follow security and safeguarding procedures and apply appropriate due diligence in accordance with Bank policy for the prevention of loss due to such things as fraud or defalcation.
¿ Contribute to the management of risk and minimize losses through monitoring and controlling various reports and taking appropriate action, ensuring compliance requirements, audits and verifications are completed in accordance with Bank P&Ps.
C. Business Performance Management
¿ Provide coaching and training sessions to team members in area(s) of expertise, and provide feedback to the manager on gaps and opportunities.
¿ Deliver exceptional customer service that builds trust through responsive, accurate, consistent, knowledgeable and available services and support.
¿ Align individual performance goals to team and organizational goals.
¿ Demonstrate behaviours that are consistent with ¿Our Way¿ model and aligned with BMO values.
AUTHORITIES
This role has the authority to:
¿ Manage and monitor a complex portfolio of work representing a significant amount of risk.
¿ Make independent decisions within established guidelines, procedures and Letter of Authority/ authority levels in the resolution/ escalation of problems, including system, software and hardware failures.
¿ Escalate all unresolved processing issues to the appropriate level, as per guidelines.
¿ Develop initiatives to avoid repetition of operational issues.
¿ Act as SME in an advisory capacity to senior managers and lead new work. Recommend business performance improvements.
¿ Prioritize work in accordance with policy and severity of service impact to minimize financial/ customer impacts.
¿ Coordinate and oversee workflow activities of a team, prioritize and/or change work schedules and work plans within pre-determined deadlines.
¿ Review others¿ work outputs and provide input to manager on employee performance.
¿ Provide on-the-job training, coaching, guidance to others.
¿ Ensure authorizations and approvals are obtained in accordance with policies and controls.
CROSS-FUNCTIONAL RELATIONSHIPS
Internal:
¿ Team members
¿ PO managers and other PO business units to partner in the delivery of key accountabilities
¿ Internal business partners to consult/ advise/ service in the delivery of key accountabilities
External:
¿ External network groups to understand the competitive landscape, keep abreast of industry developments, new products and compliance requirements related to the industry, to enhance our profile in the community and to represent the interests of BMO FG
¿ Government, regulatory agencies, other financial institutions
¿ External consultants and industry contacts to enhance business effectiveness
SCOPE AND IMPACT
This job has direct or indirect impact on the following:
¿ Customer confidence and satisfaction by ensuring more complex transactions are processed and more complex non-routine business issues are resolved accurately and on a timely basis.
¿ Customer retention by ensuring service quality in proc
essing transactions and resolving escalated issues.
¿ Bank financial performance by responding on a timely basis to changing operating conditions so as to mitigate financial penalties and costs; also ensures an appropriate balance between customer service and costs to minimize loss of revenue or customer dissatisfaction.
¿ Mitigation of reputational risk and financial loss against such things as fraud, defalcation and/or financial penalties by ensuring compliance with Bank P&Ps and regulatory requirements.
¿ Mitigation of costs/ impacts associated with human errors by supporting the proper coaching and training of others.
¿ High volume and/or high risk environment with strict timeframes that are time sensitive and subject to large penalties if timelines are missed.
KNOWLEDGE AND SKILLS
a) Knowledge:
¿ University degree/college diploma or equivalent work experience
¿ 5 to 7 years of experience in commercial or corporate lending
Experience in preparing loan documentation and reviewing attorney prepared loan documentation
Paralegal certificate or equivalent experience. Juris Doctor degree is a plus.
¿ Solid knowledge of standard desktop applications used by the business unit
¿ Solid knowledge and understanding of business unit¿s key products and services, processes and controls
¿ Solid understanding of business unit¿s risk and regulatory requirements
¿ Solid knowledge of departmental systems and applications
¿ Solid knowledge of process and/or project management
¿ Solid understanding of internal business partner¿s business, services and organization
b) Skills:
Experience with LoanIQ a plus
¿ Strong analytical and problem-solving skills
¿ Strong investigation skills
¿ Strong prioritization skills
¿ Strong customer service and relationship management skills
¿ Strong coaching, mentoring and training skills
¿ Strong conflict management/ resolution skills
¿ Strong written and oral communication skills
¿ Ability to multi-task in a fast-paced environment
BMO Harris Bank thanks all applicants. We advise only those who qualify for an interview will be contacted.
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