BMO Financial Group Head of Strategy in Chicago, Illinois
Wealth Management is committed to delivering exceptional service to affluent clients through an advisory model. The Bank has emphasized the development of close relationships with its clients and an understanding of individual client needs in pursuit of this vision. BPB’s strategy is to leverage the resources of a fully integrated suite of financial offerings to proactively satisfy these needs.
As the Head, Strategy, Sales & Practice Management provides centralized leadership to the sales organization by defining the sales and business development strategies, including sales management practices and standards, to drive the required business success. This role monitors sales and business development results at the national, regional and individual level and partners with Regional leaders to resolve specific issues. Objectives include: consistent delivery of the advisory sales model across all geographic regions the size and depth of the client base through new-name client acquisition, and creation of referrals within the Wealth Management and across lines of business as appropriate to the client’s needs. They will drive consistency of business development efforts and strong sales discipline.
This role has dotted line accountability for Wealth Advisors, Wealth Specialists and Relationship Managers across the network to ensure that required discipline standards are met; resolution of any issues would be done in conjunction with Regional leadership.
50%: Business Strategy and Implementation
Collaborates with other Wealth Management distribution management and Marketing to segment the market, define market opportunities, and develop the requisite strategies and tactics to realize them, as part of the overall Bank strategy.
Designs, develops, and communicates the business development operational plan (i.e., sales management practices and standards, etc…); ensure the successful execution of the plan in partnership with Regional leadership in support of the Bank’s business strategies.
Consistent with Wealth Management, and BMO policy, establishes performance standards and formulates management policies and systems to ensure that excellence and continuous performance improvement form a basis for all sales, relationship management and business development activities.
Consistent with Wealth Management, and BMO strategy and policy, ensures the ongoing monitoring of risk and compliance in sales and business development activity, and evaluates recommendations regarding responses to changes in regulatory standards.
Ensures the development and improvement of processes to continuously review business development effectiveness, value, and responsiveness to the market.
In collaboration with other Wealth Management leaders, promotes the organization to existing and potential customers by interpreting and communicating BMO Private Bank’s mission, values, and core principles while acting as a loyal, supportive, and informed spokesperson for the organization.
In collaboration with other Wealth Management and BMO leaders, participates in relevant community programs, charities, and professional organizations as a representative of Wealth Management and BMO as appropriate.
30%: Service Excellence Orientation
Consistent with Wealth Management and BMO policy and standards, ensures the monitoring and analysis of trends in client response to business development efforts, evaluates and approves recommendations regarding practice change, and ensures established client service standards of excellence are maintained.
Provides leadership for the Wealth Management in upholding a customer service excellence orientation to meet the legitimate needs of all internal and external clients.
Models service excellence standards and establishes and communicates throughout the organization what it means to demonstrate value for all people in the work environment.
Ensures that all business development staff are trained and held accountable for adhering to client service standards, and develops and ensures implementation of learning strategy for the Relationship Management role.
Ensures that confidentiality, security, and privacy of client and proprietary Bank information are maintained.
10%: Human Resource Management
Creates vision and provides leadership in a collaborative environment that offers job satisfaction and recognition, and that stimulates innovative thinking and cross-functional teamwork to accomplish objectives.
Provides sales strategy and input to the development and implementation of appropriate reward systems for BMO Wealth Management employees in partnership with Discipline Heads, Regional leaders and Human Resources; share expertise for the sales/relationship management discipline to support the development of an integrated reward structure.
Creates a culture that fosters respect, teamwork, and open communication among a diverse workforce.
Oversees the monitoring and analysis of standards of performance excellence, evaluates and approves recommendations regarding change to policies and procedures, and holds other management accountable for achieving high levels of performance.
Collaborates with Wealth Management leadership and Human Resources to monitor trends that have manpower implications, and to ensure the installation and effective use of systems for recruiting, retaining, developing, and motivating staff and leadership talent to meet client, regulatory, fiscal, and developmental requirements.
Support Regional leaders by defining and preparing appropriate sales and business development communication materials to ensure national communication of discipline objectives; attend and provide additional expertise as required to ensure buy-in across Wealth Management.
Contributes to the preparation of sales forecasts and participates in planning along with other members of the management team to establish the resources required to realize market opportunities consistent with Wealth Management strategy.
Oversees the ongoing monitoring and analysis of financial performance within the Sales organization in light of its impact on the performance of the Bank as a whole, and evaluates and approves recommendations regarding changes required to realize market opportunities or achieve established financial objectives consistent with overall business strategy.
Articulates the rationale for financial decisions and ensures the implementation and monitoring of approved changes to fully realize emerging market opportunities, possible cost savings, and improved client acquisition or retention.
Anticipates implications of operational decisions on the business, and proactively engages with other Bank leaders to prevent negative consequences outside the Sales organization.
Leads and participates in LoB-wide and cross-functional strategic initiatives, championing projects within the business, aligning leadership, and appropriately allocating resources.
Collaborates with other Wealth Management leaders to proactively remove barriers within the Bank that have a negative impact on client acquisition, client retention, referral creation, share of client’s wallet, or other strategic outcomes.
Acts as the channel partner to heads of sales of other lines of business, acting as ambassador for and representing the interests of the business.
Leads and supports cross-region efforts to identify and leverage best practices.
Serves as a vocal and visible advocate of exemplary Bank leadership.
Leads and actively supports the integration of change through support of change initiatives, open communication, and use of change management skills.
10 plus years of sales management experience within a financial services environment
University degree required, advanced degree preferred
In-depth knowledge of financial services products, organization and inter-group relationships
Strong knowledge of competitive environment and market trends
Excellent understanding of change management and organizational development strategies
Leadership experience with regional or national scope
Strong strategy development and implementation skills
Excellent collaboration and influence management skills
Excellent organizational, communication, presentation, and client management skills
Demonstrated leadership and problem resolution ability
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At BMO Harris Bank we have a shared purpose; we put the customer at the center 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 Harris Bank 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://bmoharriscareers.com.
BMO Harris Bank 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. BMO Harris Bank N.A. is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.