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Managing Director, Service Management and Account Services

Toronto, ON
Full Time
2 days ago
250 Yonge Street

Job Family Group:
Customer Shared Services

Accountable for the provision of flexible, cost effective and high quality services and support to internal and external customers of BMO Financial Group covering a full range of products offered by BMO Private Bank, BMO InvestorLine (IL), Managed Assets Group (MAG), Private Client Division (PCD), BMO Life Assurance, BMO Global Asset Management, BMO Term Products and BMO Capital Markets.

Accountable to envision, optimize and integrate service delivery within Wealth Operations and create the framework for relationship management within the context of the group and established goals. Also, accountable to drive digitisation and effective exception management for customer and account onboarding as well as supporting maintenance and transfer functions.

As a member of the leadership team of WMO, accountable for developing and/or integrating programs and initiatives necessary to support WM PO business strategies, identify and lead change initiatives and integrate WMO goals and activities into effective management of the division.

Services provided have very high visibility with internal and external clients. Processes are well defined; however, there is a high reliance on external vendors to provide services. Any failure or service disruption during the process will result in reputation risk and potential loss of business. Incumbent is required to develop excellent working relationships with senior executives in the lines of business and with external vendors in order to mitigate reputation risk resulting from the service delivery issues. Activities include developing effective communication strategies to meet the needs of all stakeholders and partnering with external vendors to resolve service delivery disruptions thereby mitigating reputation risk.

Services provided are highly regulated by regulatory agencies in Canada, with non-negotiable deadlines. Processes are well defined; however, processes are dependent upon the effectiveness of internal departments and external vendors in delivering services. Within Account Services any disruption or failure internally or with a vendor could result in fines and penalties levied by the regulatory agencies due to deadlines not being met. Incumbent is required to develop business recovery strategies, to develop excellent working relationships with internal departments, vendors and revenue agencies in order to mitigate regulatory risk associated with service disruption.

The business unit is responsible for the efficient delivery of the following services:

Account Services - Including Client Account Administration and Account Transfers performing review of account documentation for compliance (BMO InvestorLine (IL), BMO Nesbitt Burns Advisors (PCD), BMO Private Bank (PB) & BMO Life Assurance (BLA), BMO Capital Markets- Investments Funds (CM) and BMO Mutual Funds (GAM) and BMO Term Products (BMOT), client account open/updates, documentation imaging and retention, transfers in and out, scanning centre of excellence as well as processing underlying administration activities for some businesses. Also supporting Managed Product Services and Fee Programs with oversight and provision of services to support the full product line of fee and managed programs offered by PCD. Key services include review and approval of documentation required for fee and managed accounts, Client Information Centre and RIS Helpdesks, data integrity of performance reporting for customer accounts, fee administration and oversight and provision of operational services for clients of Nesbitt Burns Securities Limited.

Service Management - Is inclusive of a number of sub-service pillars: CIC (Client Information Centre) - call centre support for all Nesbitt branches nationally, including but not limited to: Product support, Client Onboarding, Account transfers, RISHelpdesk - RIS Middle Office Advisor system operating and navigational inquiries, Resolution Services - Includes Private Wealth Regional Service Managers as well as Managed Account Customer Service Representatives, Private Bank and InvestorLine Escalation Support and the Investment Funds Contract Center. Each are accountable for providing a high level of service execution for internal and external advisors respectively.

This role creates a proactive service environment that maximizes employee productivity and customer service effectiveness. This role has primary relationship management accountability to the executives in BMOPB, IL and PCD. It also ensures effective issue, relationship and risk management and the maintenance of internal and external control standards.

Operations within the incumbent's responsibility are resident in Toronto but the position has matrix responsibility for delivering operational services to branches across Canada for BMO Private Banking, InvestorLine and BMO Nesbitt Burns (PCD) as well as BMO Private Bank.

Responsibilities Include:

Managerial Leadership

  • Identify and implement best practices in conjunction with Wealth Management and Technology and Operations Executives.

  • Establish a culture and work environment that attracts, retains and motivates a diverse, skilled workforce in order to maintain a high degree of employee professionalism, commitment and desire to maintain updated skills and knowledge. Coach, motivate, develop and evaluate performance of direct reports and provide guidance and mentoring in the resolution of complex issues.

  • Provide development opportunities to direct reports, including the identification of training needs, creation and implementation of appropriate development plans, monitoring, documenting and providing regular feedback on performance.

  • Provide leadership and direction to a large functional area of employees from the various units, by setting context and direction, defining accountabilities, tasks and assignments and establishing boundaries for decision-making and approvals.

Business Delivery and Operational Effectiveness

  • Establish operations processing and services objectives ensuring leadership towards high performance, service oriented culture with the right balance between efficiency and quality.

  • Develop an infrastructure and flexible processes with a high degree of security audit and control that supports cross product/market/entity dealing and hedging in an environment where new requirements are dynamically driven by the market.

  • Develop and implement financial and performance measures and take the necessary steps for corrective action to address performance shortfalls.

  • Conduct regular assessments of the overall divisional operational effectiveness by identifying best practices and potential risks, continually enhancing service levels through the development of effective operational procedures and taking the necessary steps to mitigate financial and/or reputation risk.

  • Investigate, recommend and implement changes for continuous improvement of business processes and procedures within each of the departments in the business unit.

Risk Management and Control

  • Achieve an optimum balance between fast-tracking product development and operational risk management by maximizing realization of client's expectations, minimizing loss/risk with sensitivity to marketing strategies and the provision of services to a global market.

  • Leverage both state of art and legacy systems to improve efficiency while simultaneously ensuring risks are managed and business performance maximized.

Change and Innovation

  • Envision environmental and cross-boundary changes and respond with new frameworks/ approaches.

  • Make the decision for change and fund the change within an interdependent context.

  • Actively manage interdependencies and contribute to/sponsor change agenda.

  • Foster an environment of continuous improvement and create frameworks to encourage all employees in Client Services to identify process improvements/new ideas and adopt best practices.

Client and Relationship Management

  • Represent area of responsibility in various re-engineering and cross-functional activities ensuring appropriate risk mitigation and facilitating the resolution of problems in the interface between Bank Financial Groups.

  • Maintain a high profile and represent Processing Services/Operations group in professional organizations, industry associations and specific forums on a regular or as required basis.

  • Develop and maintain relationships as the senior Relationship Manager with internal business partners (BMOPB, IL, PCD, BLA, GAM) in the development and implementation of new products as well as with regulators and corporate Auditors. The relationship management responsibilities include ensuring internal business partners' interests are represented with respect to major Operations initiatives such as integration activities as well as communicating other major changes to our internal business partners. Activities include regular meetings with BMOPB, IL, PCD, BLA, GAM, CM counterparts and their Managers. Further responsibilities include supporting the internal business partners in problem resolution and items that require escalation.

  • Assessing operational changes that impact the internal business partners. This includes ensuring that current SLAs are maintained or improved and that our internal business partners' interests are represented as changes are initiated throughout Operations.

Manage and co-ordinate outgoing communications from WM Product Operations to internal business partners and/or customers. This responsibility includes ensuring the timely and accurate information regarding:

1. Policy or procedural changes that impact the internal business partner.

2. Service impacts resulting from processing issues, system failures and/or vendor delays .

3. Any other significant change or service disruption affecting the internal business partner and/or their customers.

  • Duties also include participating in Branch and Divisional Manager conference calls as required.

  • Contribute to the Leadership Team's development of initiatives and programs that enhance the performance of WM Product Operations as a whole.

Additional Accountabilities

Accountable for all client service escalations.


  • Product - Extensive knowledge of products across all WM and Capital Markets pillars. Must be able to negotiate/plan/improvise, etc. with the internal business partners and external clients.

  • Process - Production management. Continuous/Business Process Improvement and Reengineering techniques and application. Must be able to communicate vision, define and lead substantial change.

  • Systems - Provide guidance to direct reports in the development of functional requirements. Must lead change.

  • Regulatory - Rules and Regulations relative to Broker Dealer Securities Processing, Trust Custody, MutualFundDealers Association, Canada Revenue Agency, Revenue Quebec and Internal Revenue Service.

  • Leadership - Vision, team leadership, communication, influence & negotiation, conflict resolution, people management, relationship management (internally and with our external industry counterparts), multitasking, etc.

  • Minimum 10 years in a Private Client/Investment Banking Operations environment. Building, closing and consolidating a business. Developing/Owning the game plan. Requirement to successfully complete Partners, Officers and Directors Exam.

We're here to help

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 .

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.
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