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Job Details

BMO Harris Bank

Managing Director, US Wealth Management Operations (R210030297_Chicago)

Business and Financial Operations



Full Time


Chicago, Illinois, United States


111 W Monroe - 115 S LaSalle

Job Family Group:

Wealth Sales & Service


Information Access – Authority to use and access confidential information related to employee information, customer information, product and financial information

Managerial – Authority to deploy resources (physical, financial & human) as appropriate to meet business goals and objectives

Advisory – has the authority to provide advice and counsel to his/her colleagues on proposed strategies, the evaluation of existing and potential business initiatives and on internal and external factors affecting BMO Wealth Management US

Coordinating – has the authority to coordinate work and/or call people together to discuss/resolve issues. Can persuade people to change course and/or act in concert with each other

Monitoring – has the authority to collect or be provided with the required information from others to perform required services

Approval – Authority to approve policies, procedures and standards within the unit

Scope & Impact:

The Managing Director, US Wealth Operations to the overall business success of BMO Wealth Management U.S. and specifically, the Trust & Investment businesses by having a direct or indirect impact on client service execution, business objectives, reputation and operational risks, and capital.

Position is responsible for supporting BMO Wealth Management US Trust & Estate Services.

Cross Functional Relationships:

This role requires the incumbent to interact with the following processes and/or groups:

Peer – BMO Wealth Management US, SVPs, Senior Risk Management and Compliance professionals, Internal and External auditors, Regional Presidents/Directors, etc.


Knowledge & Skills:

· Bachelor's degree or equivalent preferred; Advanced degree is a plus

· Minimum of 10+ years of professional management experience with a focus on Wealth Management and Operations Management

· Strong knowledge of Trust and Estate Settlement business and client needs

· Expert knowledge of BMO Harris compliance requirements business practices, associated risks, policies, operations and procedures

· Expert software knowledge required: SEI Trust 3000, [Register to View] Services Module, MS-Office applications Word, Access & Excel

· Strong senior leadership/management skills

· Interpersonal & organizational skills

· Strong project management, consensus building, product planning and innovative skills

· Team oriented

· Strategic thinker

· Ability to manage the revenue and expenses for a team/unit

· Ability to influence and negotiate, Ability to identify opportunities and lead a team through change

At BMO Harris Bank, we have been helping our customers and communities for over 130 years. Working with us means being part of a team of talented, passionate individuals with a shared focus on working together to deliver great customer experiences. We stand behind your success with the support you need to turn your potential into performance.

To find out more visit our website at

BMO Harris Bank is committed to an inclusive, equitable and accessible workplace. We are an Equal Opportunity Employer. By embracing diversity, we gain strength through our people and our perspectives. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.

The Managing Director, US Wealth Management Operations is accountable for the oversight, delivery and execution of the Middle Office Central Services and Account Transition Services teams. This position is responsible for partnering with Investments and Trust & Estate Services colleagues by providing oversight and coordination of resources, workflow, productivity, and team activities in support of Trust & Investment client service responsibilities. As we continue to grow the US Wealth business, this leader will be critical in strengthening the US wealth service and support model, digitizing and enhancing operational processes, managing key controls/governance model, and continuing to develop a culture of continual improvement and high performance.

Middle Office Central Services must ensure compliance with requirements and procedures relating to key regulatory or business requirements. In addition, this position is responsible for the Account Transition Service (ATS) team which is responsible the client account opening and closing process for the Trust and Investment business. Responsibility includes overall training, team supervision, operational effectiveness, business partnership and risk management that maximize employee productivity and client service effectiveness. The role is also accountable to continually improve processes, client documentation and identify opportunities to digitize and resolve issues that does not create a positive client experience.

Key Accountabilities:

Managerial Leadership – 25%

· Enhance, foster, manage, and maintain a delivery model that leverages BMO Wealth Management US and Investment and Trust & Estate Settlement Services expertise to serve clients.

· Continue to develop and foster a high performing team through a revised operational plan that is aligned to our ‘Ambition 2025’ goals and objectives.

· Set appropriate context and direction for direct reports on the US Wealth Strategy and the tactics employed to meet and exceed the ongoing business objectives.

· Develop and sustain a team of direct reports and their direct reports who are capable of delivering the performance required for Middle Office Central Services and Account Transition Services (ATS) to create and implement training and development plans as well as provide ongoing coaching to ensure sustained performance.

· Establish goals and objectives assessing skilled knowledge gaps, allocating resources to achieve objectives and close gaps, assessing personal effectiveness, and reviewing and recommending base and variable pay utilizing the Bank’s performance measurement system.

· Optimize team integration and cross functional benefits by articulating the mandates and authorities of roles on the team and how roles within the team work collaboratively with one another to fulfill team objectives.

· Continue to Identify synergies and opportunities to leverage resources, knowledge, processes, and technology within BMO Private Bank and across BMO Family Office to enhance revenue growth and foster an exceptional client experience.

· Accountable, as a manager of managers, to develop and sustain and effective multi-level unit; ensure the quality of effective managerial leadership practices of first-line managers, conduct talent pool assessments with first-line managers on the capability of their staff; and hold mentoring discussions with and hear requests from employees.

· Has the authority, as a manager of managers, to: approve job and pay grades for staff, establish a pool of candidates from which staff may be chosen and decide on cross-functional working relationships (within the department and in conjunction with other department managers across groups in BMO Wealth Management).

Business Delivery & Operations – 55%

· Oversee the daily functions for the Middle Office Central Services team and Account Transition Services (ATS) to ensure that all products and services meet or exceed Service Level Agreements and client expectations. These functions will include managing multiple operational teams to support current business objectives in accordance which align to the US Wealth Strategy, BMO policy and industry standards.

· Oversee the review of internal processes and procedures to continually improve overall operations by streaming work activities without reducing risk mitigation.

· Understand and assess how changing regulatory requirements will impact work processes and procedures; oversee the validation of processes according to new or changing industry regulations and requirements to mitigate risk.

· Lead or provide direct oversight into vendor negotiations to ensure that US Wealth operations has defined the right vendor arrangement to meet client experience, regulatory, service and profitability standards.

· Develop strategic and tactical plans to manage existing products and services, seeking to maximize value creation across the product lines, balancing simplification to meet internal and external client needs.

· Consult with relationship management teams within and across business lines to identify, evaluate, prioritize, and implement client focused product and service solutions.

· Manages and resolves escalated issues in a timely and professional manner.

· Recommends continuous improvement of business processes and procedures and provides input into the department’s business plan and budgets.

· Coordinates activities with Securities Lending business partners to ensure optimal business effectiveness for the overall program.

· Oversee the imaging process for client documentation to ensure that client information will be assessable to BMO Wealth Management US partners to meet client service requests and deliver the desired client experience.

· Oversee the transaction monitoring to support AML line of business oversight.

· Reports as required to governance committees for BMO Wealth Management US matters.

Risk Management and Control – 20%

· Identifies, understands and manages to resolution potential risk situations.

· Escalates risk matters timely and appropriately.

· Ensures team understands and adheres to regulatory/audit requirements.

· Ensure that all Standards and Policies are being adhered to mitigate the risk to BMO Wealth Management U.S.

· Establishes and maintains an ongoing management reporting process to capture business unit performance, including key risk and performance indicators.

· Reports and participates as required to governance committees on Middle Office Central Service activities.

· Proactively explore existing and potential risks and sources of risk, taking specific actions to more accurately and effectively identify and manage various forms of risk, escalating probable issue of material impact to the Head, US Wealth Operations and Administration.

· Acts as the business owner of compliance activities and audit controls specific to Middle Office Central Service, including ensuring that all regulatory requirements are met.

· Work closely with BMO Risk and T&O to ensure an accurate and tested Business Continuity Plan/Disaster Recovery Plan.

Ensure that accurate and updated policies and procedure manuals are available and tested for Middle Office Central Services and Account Transition Services (ATS).

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 [Register to View] .

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.