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Private Banking Associate

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Job Details
Job Order Number
Company Name
BMO Financial Group
Physical Address

Barrington, IL 60010
Job Description


The Private Banking Associate is dedicated and focused on credit activities and is the coordinator of deals between the Private Banker, the client, the underwriter, and the operational partners and units\. This role is accountable for assisting the Private Banker in portfolio management and monitoring activities, and for managing transactions through the commercial lending process, including responsibility for obtaining the necessary information and requirements \(i\.e\. conditions of credit\) from client and reviewing prepared loan documentation for accuracy and completeness\. You will be required to consistently deliver a premier client experience through proactive identification of needs, effective service, and highly personalized interaction, while also seeking cross\-sell opportunities\.

This role will be engaged in client conversations to facilitate smooth management of deals by ensuring complete deal packages are received and reviewed and making requests of clients to understand information submitted\. This position is also responsible for calling clients regarding upcoming renewals and annual reviews, covenant issues, and other relevant banking matters\.

The overall objective for this position is to free\-up Private Bankers’ time for client facing activities\.

Business Delivery & Operations

+ Act as a quarterback for designated Private Bankers by communicating requirements to the client and handling the administration work to move the deal through the commerciallending process;

+ Provide comprehensive day\-to\-day servicing of client accounts, both in person and telephonically

+ Engage in the client conversation seamlessly in partnership with the Private Banker to support the delivery of the client experience\. Understand and work within the boundaries of theclient relationship, respecting that the Private Banker is the relationship manager for the client\.

+ Coordinate and collect required client financial and non\-financial information for annual reviews, renewals, and new credit opportunities\. Discuss financial information at basic level withclients and demonstrate an understanding of the dynamics of high net worth relationships and required service levels\.

+ Make a preliminary assessment of the fit with the credit parameters and target business\.

+ Partner with the Underwriter on the credit deal and ensure that the right information is received for needed analysis to move the credit deal through the process\.

+ Review the packages prepared by the Underwriters to address any issues or missing information in partnership with the Private Banker\.

+ Discuss any issues or concerns with the Private Banker, and/or other appropriate parties

+ Initiate and complete the required due diligence

+ Coordinate documentation with either internal support area or outside counsel, review documents for accuracy and completeness; if necessary work with clients to help themunderstand the documents\.

+ advise Private Banker on any risk situations \(i\.e\. overdrafts, past due payments, collateral/financial exceptions, incomplete account documentation, etc\)\.

+ Stay current on and follow all policies and procedures\.

+ Investigate, analyze and resolve credit issues in a timely, efficient and effective manner ensuring the highest level of client satisfaction\.

+ Assist in developing solutions, ensuring that the opportunity is fully understood and addressed based on the assessment on the value\. Enhancing existing relationships and uncoverprospective relationships, acting as a key client liaison under the direction of the Private Banker\(s\)\.

+ Assist Private Bankers with general correspondence, appointment setting, and preparation of client presentations\.

Risk Management & Control

+ Manage the risk of assigned portfolios in a timely and precise manner, focusing on quality and timeliness of information, analysis, and credit recommendations to ensure the profitableexecution of sale of credit products and services to HPB clients\.

+ Manage risk and minimize losses through monitoring and control reports, ensuring that compliance requirements, audits and verifications are completed in accordance with BankPolicies and Procedures and all legal, regulatory and ethical requirements\.

+ Document and follow\-up on discrepancies that represent significant operational risk and escalate as required\.

+ Understand the external regulatory and risk environment to effectively analyze threats and opportunities ensuring alignment and focus in monitoring activities\.

+ Ensure the portfolio meets the standards set out in Corporate Policies and Bank Policies and Procedures\.

+ Identify and elevate deteriorating situations and material exceptions to the Private Banker and Credit Manager in a timely manner\.


Knowledge & Skills:

+ 3 – 7 years of banking experience with an exposure to credit/wealth\.

+ This position requires a Credit Qualification with a Bachelor’s degree or equivalent industry experience\.

+ Ability to effectively interact with business owners, professionals and wealth individuals\.

+ Consumer lending experience with knowledge of risk management parameters and loan documentation\.

+ Able to understand with various and complex situations and how to move them through the process

+ Excellent planning and organizational skills with the ability to manage risk in a complex cross\-functional environment\.

+ Strong ability to work and juggle multiple internal/external partners

+ Excellent problem solving and troubleshooting abilities

+ Team oriented/player, strong client service orientation, capable at managing multiple priorities

+ Excellent listening and interpersonal skills

+ Strong communication skills – both verbal and written

We’re here to help

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 athttps://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\.

Job Field:

Private Banking

Job Schedule:


Primary Location:

United States\-Illinois\-Barrington

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