The Managing Director’s mandate is to meet the strategic revenue objectives of their assigned market. The Managing Director is responsible for effectively integrating a highly complex array of interfaces to ensure common focus and drive market ownership.
- Coaching and supporting market team members and holding them accountable for standards of excellence.
- Setting individual and market team targets to ensure market growth and penetration.
- Creating an effective sales culture in which individual and market team quality goals are met.
- Providing sales management direction through review and analysis of market trend data, pipeline reports, call reports, and win/loss trends.
- Executing on BMO Private Bank defined strategies and initiatives in the assigned market.
- Developing and implementing tactical market plans in support of BMO Private Bank strategy.
- Providing vision, direction and leadership to his/her market and team.
- Ensuring all team members work together to deliver the BMO Private Bank client/ prospect experience.
- Achieving financial goals for revenue/expenses/net income per business plan.
- Leading execution of wealth strategic initiatives for Mass Affluent and High Net Worth client segments.
- Coordinating with BMO Harris Financial Advisors’ Regional Sales Managers to achieve Mass Affluent client segment sales targets (e.g. revenue to plan, insurance sales, managed money new business sales and referrals to partners).
- Developing an effective team of highly competent market professionals; developing and maintaining a reputation in the marketplace as THE recognized wealth management firm and employer of choice.
- Talent/Performance management to include annual reviews; salary and compensation reviews.
- Overseeing and ensuring that the team is performing effectively and collaborating effectively.
- Building and maintaining strong linkage between Financial Advisors and BMO Private Bank team members to present one wealth team to P&C partners.
Clients / External Marketing:
- Creating strategies for client expansion and retention in the markets.
- Providing an important, independent value-adding relationship contact for selected prospects and current clients.
- Selectively managing and enhancing client relationships.
- Providing expertise and leadership in market-related activities to ensure visibility and generate long term business development opportunities.
- Being visible and known in the market to generate business.
- Ensuring clients are being directed and serviced in the appropriate wealth segment offering.
- Ensuring effective communication and positive relationships between, senior management, and market team members to build linkage and strengthen commitment to the BMOFG and BMO Private Bank / Wealth Management strategic vision and goals.
- Ensuring all other BMO FG relevant partnerships are well managed and BMO Private Bank is well represented.
- Directly responsible and accountable for the internal control system, compliance and risk management of their team and their team’s activities.
Knowledge & Experience
- Undergraduate degree; a professional designation (i.e., MBA, CFA ) is highly preferred.
- Approximately 15 years of related experience.
- Proven track record in developing and growing a related business.
- Experience managing a team of professionals / sales management experience.
- Ability to network and build profile in a given market.
- Expertise related to private wealth management strategies and issues.
- Broad perspective of economics and financial markets.
- Strong presentation skills; both written and verbal.
- Exceptional organizational skills.
- Excellent communicative and interpersonal skills.
- Credit analysis experience/ understanding.