Job Information
BMO Financial Group Retention Strategy Manager in Chicago, Illinois
We are seeking a highly skilled and motivated Retention Strategy Manager with a minimum of 7-10 years of experience to join our team at BMO. This role is primarily an individual contributor position, focusing on analytics, strategy, and execution to enhance customer retention. The Retention Strategy Manager will work closely with the Director to develop and implement strategies that improve customer loyalty and reduce churn.
Preferred Qualifications:
Experience in the financial services industry.
Advanced degree (MBA or equivalent).
Knowledge of customer relationship management frameworks and metrics.
Analyze customer data to identify trends and insights that inform retention strategies.
Develop and execute retention strategies to improve customer loyalty and reduce churn.
Collaborate with cross-functional teams to implement retention initiatives.
Monitor and report on the effectiveness of retention strategies and initiatives.
Provide recommendations for continuous improvement based on data analysis and industry best practices.
Work cross-functionally to drive change and implement retention strategies.
Assist in the development of customer segmentation and targeting strategies.
Utilize analytics tools to track and measure the success of retention efforts.
Stay up-to-date with industry trends and best practices in customer retention.
Identifies short- and long-term value creation opportunities for target customer segments.
Develops, maintains, and executes a business plan to achieve client retention objectives.
Recommends and implements solutions based on analysis of issues and implications for the business.
Acts as a trusted advisor to assigned business/group.
Influences and negotiates to achieve business objectives.
Helps determine business priorities and best sequence for execution of business/group strategy.
Ensures alignment between stakeholders.
Collaborates with internal and external stakeholders to meet business objectives.
Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
Monitors and tracks performance and addresses any issues.
Designs and produces regular and ad-hoc reports, and dashboards.
Identifies emerging issues and trends to inform decision-making.
May consult to or serve on various committees and task forces.
May network with industry contacts to gather and identify competitive insights and best practices.
Qualifications:
Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study Business, Marketing, Analytics, or an equivalent combination of education and experience.
Proven track record of developing and executing successful retention strategies.
Strong analytical skills with the ability to interpret complex data and make data-driven decisions.
Ability to work independently and manage multiple projects simultaneously.
Familiar with established process analysis and improvement tools.
Solid knowledge of testing strategies, test plans, and execution.
Solid understanding of the business unit’s risk and regulatory requirements.
Solid knowledge of process and/or project management.
Deep knowledge and technical proficiency gained through extensive education and business experience.
Verbal & written communication skills - In-depth.
Collaboration & team skills - In-depth.
Analytical and problem-solving skills - In-depth.
Influence skills - In-depth.
Data driven decision making - In-depth.
Salary:
$79,800.00 - $148,000.00
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 https://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.