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BMO Financial Group Senior Private Banker - Business Development Officer in Chicago, Illinois


111 W Monroe - 115 S LaSalle

Job Family Group:

Wealth Sales & Service

Exciting Opportunity to grow BMO Private Bank's Professional Services Market.

Thank you for your interest in BMO Financial Group. We are currently working towards providing a better candidate experience by including all of our job descriptions in both English and French. In the meantime, if this role is located in Quebec and/or New Brunswick please reference the French job description available below the English version. Otherwise please see the job description below in English as per federal language requirements.

Nous vous remercions pour votre intérêt à l'égard de BMO Groupe financier. Nous travaillons actuellement à offrir une meilleure expérience aux candidats en publiant toutes nos descriptions de poste en français et en anglais. Entre-temps, si ce poste est affiché au Québec ou au NouveauBrunswick, veuillez consulter la description de poste en français disponible sous la version anglaise. Autrement, veuillez consulter la description de poste ci-dessous en anglais, conformément aux exigences fédérales en matière de langues

The Senior Private Banker-Business Development Officer acts as the driver of business development in BMO Private Bank to actively develop, manage, retain and build a portfolio of profitable banking relationships with high- and ultra-high-net-worth clients. This role will develop and deliver solutions that meet the clients complex needs, while providing an exceptional client experience and highly personalized interaction. The role is accountable for deposit and credit structuring and negotiating, portfolio management, and risk management for new banking clients. The incumbent will make credit decisions and recommendations in accordance with Private Banking policies and procedures, working in collaboration with the Regional Director of Banking and National Banking Group.

The Senior Private Banker-Business Development Officer will work with the Managing Director and BMO Private Bank partners to ensure the comprehensive delivery of BMO Wealth Management and BMO Harris Bank capabilities. This role will also be an active member of the community representing BMO Wealth Management in philanthropic and community organizations.

For employees who will be working in the U.S. the following applies: This position will act as an originator of consumer loans as defined by Regulation Z, Regulation G, and the Secure and Fair Enforcement for Mortgage Licensing Act (the S.A.F.E. Act). This position will require a Federal registration with the Nationwide Mortgage Licensing System and Registry. The Bank will instruct you on the registration requirements needed to comply with this requirement. A criminal background review and credit history evaluation will be required for this position as well as restrictions on performing in a real estate agent capacity.

Business Development-Sales (80-100%)

Source new BMO Wealth Management target clients. Act as the Lead Relationship Manager for any clients that are sourced.

  • This sales and relationship management role will attract, retain and grow a portfolio of prospect and client relationships by providing a consistently exceptional prospect and client experience. The Senior Private Banker-Business Development Officer will demonstrate the understanding of and care for the client through the proactive delivery of holistic advice and solutions designed to meet the clients specific needs.

  • Act as the Lead Relationship Manager owner of BMO Wealth Management banking clients and BMO Wealth Management prospects that are sourced and become part of a self-sourced book of business. Lead and coordinate the client service team to deliver an exceptional Client Experience and apply BMO Private Bank advice-based expertise to provide customized solutions that deepen and solidify the client relationship.

  • Perform all required Lead Relationship Manager responsibilities, activities, touch points and client retention standards including: Professional Standards, Prospect Experience, On-boarding Experience, Ongoing Experience.

  • Achieve new business development sales goals, supported by monthly growth plan meetings.

  • Drive and direct the sales process by frequently proactively contacting clients and by initiating cross sales referrals to BMO Wealth Management partners and BMO business partners.

  • Expand existing portfolio through new client acquisitions by proactively sourcing prospective clients within BMO Private Bank defined target market.

  • Know and understand the clients financial history, and family and personal information in order to assemble the appropriate BMO Private Bank client service team, customize and manage client communications and touch points, and target client entertainment and education opportunities, etc.

  • Exercise exceptional quality service standards to maximize client retention and growth.

  • Make the existing client a BMO Wealth Management advocate to generate new referrals: ask for referrals and introductions to other potential HNW clients.

  • Participate in prospect, client, community and business events to enhance the image of BMO Private Bank in an effort to retain and build upon existing and new business within the market.

Portfolio Management (0-20%)

Leverage banking operating model to manage incumbents own banking portfolio for complex loan and deposit retention and expansion of existing relationships; including but not limited to the following accountabilities:

  • Manage the banking client portfolio: service, analyze, investigate and resolve credit and banking issues in a timely, efficient, and effective manner ensuring the highest level of client satisfaction.

  • Handle client requests with the highest level of responsiveness: create custom solutions and develop client options, recommend structure, products and features, and negotiate new and renewal loan terms.

  • Work with the Regional Director of Banking to conduct weekly portfolio management meetings to ensure portfolios are managed with zero tolerance for past dues and exceptions, that under margin situations are resolved, and that the portfolio meets the standards set forth in BMO and Private Banking policies and procedures.

  • Maintain effective relationships with Underwriting, Risk Management, National Banking Group and other key areas to proactively address credit portfolio needs of the client and Bank.

  • Coordinate all portfolio banking and credit administration with Regional Director of Banking, and participate in huddles, credit administration and audit meetings.

Risk Management:

  • Actively protect the Banks assets by applying risk knowledge to daily situations and ensuring processes are in place to identify potential issues; including but not limited to the following accountabilities:

  • Exhibit sound credit judgment and an understanding of the credit risks associated with custom personal lending and business lending and be able to effectively assess, structure, document, secure and price new and renewal credits.

  • Manage risk, minimize losses and maintain profitability while meeting the needs of the client and the Bank.

  • Understand and ensure that the incumbents own banking portfolio adheres to Private Banking and BMO risk management policies and procedures, regulatory, audit, compliance, ethical, and legal requirements.


  • This position requires Credit Qualification. The incumbent must possess an Expert knowledge of Credit and Portfolio Management in accordance with the established BMO Harris Bank Credit Qualification PGP.

  • Maintain Expert and current knowledge of BMO Private Bank and BMO Harris Bank policies and procedures, processes, relevant legal and regulatory requirements, banking products, systems, technology and reports that support Commercial and Retail loan and deposit processes.

  • Bachelors Degree in Finance or related field, CFP or Advanced degree preferred

  • Industry experience: minimum 5-7 years banking and credit experience

  • Formal commercial credit training a preferred

  • Expert ability to understand complex credit situations and how to move them through the lending process

  • Understanding of HNW and UHNW client needs and expectations

  • Expert knowledge of HNW and UHNW client product and service offering

  • Expert knowledge of technical aspects of Private Banking deposit and credit products

  • Expert knowledge of risk parameters

  • Expert knowledge of loan documentation

  • Knowledge of Microsoft Office Suite

  • Must be registered with Safe Act


  • Expert commercial lending and consumer lending skills, and ability to manage risk in a complex cross-functional environment

  • Expert client service orientation and relationship development skills

  • Expert business development and cross-sales skills.

  • Expert interpersonal and listening skills and ability to effectively interact with business owners, professionals and wealthy individuals

  • Expert communication skills verbal and written

  • Expert presentation skills

  • Expert planning and organizational skills

  • Expert at managing multiple priorities

  • Expert negotiating 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

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.