Application Deadline:

02/27/2025

Address:

320 S Canal Street

Job Family Group:

Customer Shared Services

BMO Capital Markets is a leading, full-service financial services provider. We offer corporate and investment banking, treasury management, as well as research and advisory services to clients around the world. #bmocapitalmarkets

Mandate

The Client Onboarding (COB) function, in liaison with clients and numerous teams inside and outside of Capital Markets, is designed to centrally facilitate the capture of onboarding requirements in order to enable service, product provision, and revenue generation. Through a centralized onboarding model, in conjunction and partnership with other support functions in the onboarding process (e.g. KYC, Legal, Credit, Central New Accounts, Operations, etc.), as well as the front office roles, our commitment is to deliver the highest standard of services to our clients and contribute to a great client experience overall.

As a Client Onboarding team member directly supporting the Global Markets line of business, the Associate is responsible for:

Delivering great service levels to internal sales teams and external clients while maintaining strong risk management practices. Accountable for management of the end-to-end process for onboarding including groups that are not under the Associate’s supervision. Establishing and maintaining good working relationships with stakeholders Partnering with Operational Excellence and other teams to continually improve the function and service levels delivered.

Standardized processes is the foundation for delivering consistent, timely service to the client base and BMO must adhere to the requirements mandated by the Regulatory agencies that govern all of its business in all geographic locations. 

Key Accountabilities

Execution

Ensure that all new client onboarding requests, from the Lines of Business that the Associate supports, are executed in a timely and accurate manner while ensuring we deliver “white glove” client serviceEnsure COB owned and broad CM client onboarding processes are well-defined; partner with other units to ensure appropriate controls & coordination in the overall onboarding process; use influence to deliver ongoing improvements in the overall end-to-end process of onboarding new clients into Capital Markets.Target to ensure no material defects/gaps and infrequent minor defects/gaps in operations / files and the onboarding processHandle escalations, appropriately working to investigate and resolve while keeping more senior management informed and/or further escalating as appropriateEnsure client privacy and confidentiality is maintained throughout the onboarding and client operations process

Strategy and Change Management

Represent the Client Enablement function as appropriate leading or participating in meetings with LOB / desk heads and other areas of the firm (e.g. audit, 2nd line, senior management, operations, risk)Review and monitor service performance to identify gaps, issues and best practices; develop and implement action plans to close the gaps and resolve the issues (e.g., team notifications, procedural changes, remediation projects, etc.).Staying current with Onboarding/Regulatory practices of other banks in the region and of regulatory trends related to Onboarding/Operations and ensuring compliance with latest Onboarding related compliance  (e.g. CIRO, FINRA, Dodd-Frank, SEC Security-Based Swaps, FATCA/CRS, Canadian Trade Reporting, National Instrument 93-101 etc).  rules, guidelines, regulations and policies including by escalating risks to managementWorking with the second line and other stakeholders to move to a globally integrated onboarding modelAct as a representative and work on projects and/or oversee project participation by COB staffAssist with the implementation of technology to help streamline the front to back processProduce management reporting as required

Other tasks as assigned

Authorities

Provide guidance and problem-solve issues and challenges referred by other areas and clients.Prioritize work in accordance with procedure and LOB ranking to maximize financial benefit and minimize customer negative impacts.Act as SME for area of expertise. Provide advice in the completion of processes and recommend business performance improvements.Ensure receipt of appropriate approvals/ authorizations in accordance with P&Ps and regulatory requirements.Manage and monitor a complex portfolio of work representing a significant amount of revenue generation.Monitor compliance requirements. Ensure adherence to directives, policies & procedures and regulatory/ government requirements.Approves procedures, interpretations of policy/guidance, and policy/procedures

Scope & Impact

This job has direct or indirect impact on the following:

Contributes to customer confidence and satisfaction by ensuring client onboarding experience is completed accurately and efficiently.Contributes to customer retention by ensuring requests to add more products are managed swiftly and effectively.Contributes to Bank financial performance by getting client through the acquisition phase to completion state in the swiftest timeframe allowing the Sales Organisation to realise client revenue as soon as possible.Contributes to the mitigation of reputational risk and financial loss against such things as fraud, money laundering and/or financial penalties by ensuring compliance with Bank P&Ps and regulatory requirements.Relationships with Regulators (Canada, USA, U.K. and other jurisdictions, as applicable, as expansion plans are executed)Failure to comply with applicable AML regulation can result in regulatory, reputational and monetary sanctions – both personal liability of employees in the line of business and institutional liability. These sanctions can have significant impact on BMOFG revenues and may result in lost business and increased regulatory scrutiny as well as a loss of shareholder value.

Cross Functional Relationships

Sales Organizations in Capital Markets (Trading Products and I&CB) and P&CCapital Markets Business Services: AML groups, Client Data ManagementWBPO Operations: Middle and Back Office teamsCorporate Support: Compliance, Legal, Technology, Risk, Enterprise AML

Knowledge & Skills

Knowledge:

An undergraduate degree.  Focal areas of Finance, International Business, Operations, Business, Law, or Technology; Masters degree, CFA or CPA would be an asset2+ years of relevant experience in a Capital Markets support role.Strong knowledge of trading products across Global Markets as well as Investment & Corporate Banking products.Working knowledge of the competitive market place, trends and regulations in the industryWorking knowledge and understanding of AML risk and trends, AML legislation, ML detection methodology, regulatory expectations, risk management frameworks, and operational risk.Working knowledge of relevant regulations including CIRO, FINRA, FATCA/CRS, Dodd-Frank, SEC Security-Based Swaps, Canadian Trade Reporting and NI 93-101

Skills:

Proven ability to conceptualize business and stakeholder initiatives and to guide those initiatives as daily business requirements for the groupExcellent level of relationship management, interpersonal skills and the ability to strategically and ethically leverage these relationships in a demanding environmentExceptional ability to independently manage multiple priorities and to proactively service multiple internal clients in a fast-paced environmentAbility to work a demanding schedule under limited supervisionExcellent attention to detail and ability to learn and adapt quicklyAbility to review, assess and provide detailed information dailyProven ability to collaborate and build strong relationships with customers at all levels of the organizationExcellent verbal and written communication skillsProven Account Management skills required in order to create, maintain and enhance customer relationshipsStrong conflict management/ resolution skillsStrong organizational and prioritization skills

Working Conditions

This role operates in a high stress regulatory environment, with constantly changing expectations and close regulatory and audit scrutiny. The role requires the ability to interact on a cross functional basis with other groups and with clients while operating independently. The role may be expected to work long hours.

The salary range for this role is $75,000.00 - $100,000.00 USD.

Salary:

$56,000.00 - $104,000.00

Pay Type:

Salaried

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO 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 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 http://jobs.bmo.com/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to BMOCareers.Support@bmo.com and let us know the nature of your request and your contact information.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.