BMO Financial Group Pricing Manager in Chicago, Illinois
111 W Monroe - 115 S LaSalle
Job Family Group:
The Pricing Manager will be reporting to the NA Commercial Pricing Product Manager and will be supporting the NA Commercial Banking team on the North American Commercial Pricing Initiative. This person will be accountable for maintaining and monitoring return on capital calculators on all the lines of businesses in the Commercial Bank, analyzing the data to validate the profitability is in line with the risk/return models and be responsible for developing and distributing new reporting to the business leaders on new and renewal business as it relates to capital and ROE metrics. The Pricing Manager will also work closely with Business Technology (US and CCB), Credit Risk and Treasury and the line of business to promote return calculators within the organization.
This role will require an individual with strong analytical skills, a solid foundation in credit risk, excellent communication skills and a proven track record of executing on critical deliverable items. This role will be high visibility and work with a variety of levels within the organization as capital is always important to a bank. This role will create depth in the Product Management organization, allowing for cross-pollination of talent from other areas of BMO. This role is technical knowledge focused but would also grow an individual’s inter-personal skills due to interaction with multiple stakeholders. It will create a well-rounded candidate and promote talent retention given the potential runway of the role.
Key areas of accountability:
- Manage Return calculators
Maintain and update calculators, both in the LTS system and the ancillary tools (i.e. Excel and Compass), including all assumptions and calculations;
Refresh efficiency ratio and cost assumptions
Build out Prospecting Model;
Provide training on model to HQ, Business Tech, and Line of Business;
- Create reporting strategy
Analyze relationship return on equity/capital and create repeatable reporting to provide NA Commercial Leadership and ensure we are meeting desired return hurdles;
Partner with other NACB HQ teams in support of new and ongoing technology and data/analytics projects
Maintain risk/return model and work with stakeholders across functions to refine model assumption inputs to validate the lines of business is meeting the profitability and capital allocation targets;
Create new business profitability reporting package for Line of Business leaders to provide visibility into the levers that drive price and profitability by region, group and product type.
- Single point of contact for Return Calculators
Advocate for Return Calculators enhancements during planning;
Work with LTS Technology on requirements and testing for calculator maintenance/updates;
Create consistency with Business Technology, LTS Technology and the Line of business which will lead to productivity (consistent SLA times, different granularity of responses)
Work with the Banking Product and Technology teams to assist in the implementation of key projects related to system and tool enhancement or new products for the Line of Business (i.e. introduction of SOFR and re-vamp of end-user screens)
Understand capital drivers and keep up with changes in regulatory capital standards as well as where the bank’s risk appetite lies
Work with credit methodology groups on any changes to keep updated on capital changes (i.e. LGD or EAD methodology changes; capital methodology changes to BIV Standardized)
Knowledge and skills: Knowledge:
Minimum of 5 - 7 years in financial service or related industry
Minimum undergraduate university degree, with a focus in finance, economics or accounting
CPA or MBA or equivalent experience in business or finance
In-depth knowledge of all other BMO Commercial Bank lines of business
Relevant experience in data analytics or process improvement
Previous experience in Finance a plus
Strong financial planning and analysis skills
Outstanding strategy development skills
Knowledge of commercial lending business products
Strong business acumen
Strong problem-solving skills
Outstanding communication skills (oral and written) and ability to sell ideas
Proven ability to establish positive working relationships with executives and managers across different groups
Ability to drive and implement change within the organization and across functions
Very strong quantitative, analytic skills and economic modeling skills with the ability to capture insights to guide the business and inform the strategy
Strong research skills
Team-oriented, collaborative and flexible
Results-oriented and self-motivated with a commitment to excellence
Creative, lateral thinker with ability to deal with ambiguity and uncertainty
Strong sense of urgency and the ability to work under tight deadlines
Strong Excel skills
We’re here to help
At BMO Harris Bank 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 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 www.jobs.bmoharris.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.
BMO Financial GroupServing customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $728 billion as of October 31, 2018, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.We serve Canadian clients through BMO Bank of Montreal®, our personal and commercial banking business, BMO Nesbitt Burns®*, one of Canada's leading wealth management firms, and BMO Capital Markets™, our North American investment and corporate banking division.In the United States, clients are served through BMO Harris Bank, a major U.S. Midwest personal and commercial bank, and BMO Private Bank, with wealth management offices across the United States, as well as BMO Capital Markets™, our North American investment and corporate banking division.We help our customers make money make sense by delivering the broadest range of financial services through a single point of contact. Our financial service professionals provide access to any services our customers require across the entire enterprise.