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Director, Enterprise Wealth Planning Canada
Finance & Investment Industry Company
Ontario Toronto, , Canada
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Description
Under the direction of the VP, Enterprise Wealth Planning, the Director, Wealth Planning Delivery & Practice Management is accountable for the strategy and delivery of how Wealth Planning is integrated into the practices of sales forces in Wealth and P&C.
The Director leads three teams of accredited financial planning professionals and subject matter experts:
1- A national and central support group that provides end to end support to Investment Advisors in PCD, Financial Planners in P&C and Private Banking Canada professionals to deliver financial plans in accordance with the Wealth client experience and the industry standards around financial planning.
2- A national Quality Review team who is responsible for the governance and review of planning across Wealth and P&C to ensure plans delivered to clients are of high quality and in accordance to standards in financial planning.
3- A team of regional Wealth Planning coaches who provide training and practice management support to Investment Advisors and Financial Planners across Canada on how to integrate planning into the Wealth client experience
The objective of this role is to enable increased NPS across the Wealth businesses through one of the main drivers of client loyalty – financial planning by embedding the practice across wealth distribution. The role has accountability to influence the increase in financial planning adoption in all LOBs and oversees all support to sales leadership and frontline support relating to financial planning.
Managerial Leadership and Talent Management (30%)
• Provides overall leadership and strategic direction to a team of accredited financial planning professionals, by setting context and direction, defining accountabilities, tasks and assignments and establishing boundaries for decision-making and approvals
• Coaches, motivates, develops and evaluates performance of direct reports and provides guidance and mentoring to those direct reports in the resolution of complex issues
• Provides leadership, direction and planning to align tasks with overall organizational goals
• Establishes and maintains managerial practices in order to build a high performance work environment
• Ensures consistent communication of Enterprise Wealth Planning strategy and messaging
• Recruit, develop and promote the best; effectively deploy talent across the organization in accordance with the strategy and business plans
• Develop planning professionals and leaders to achieve their full potential and build strong, diverse and effective teams
• Set high standards and clear expectations; hold employees accountable; conduct thorough performance assessments; coach and provide candid feedback; differentiate performers and rewards
• Sustain a culture that focuses on clients, growth and pace
Strategy Development (25%)
• Provide input on annual strategic plan for Enterprise Wealth Group
• Lead the strategy of the Wealth Planning Client experience and identify the processes, tools, training and practices required by LOB’s to successfully meet their business objectives and goals
• Lead and develop the wealth planning sales support strategy for Canada
• Partner with LOBs and practice management areas on strategies to integrate planning into the broader wealth client experience
• Collaborate with all wealth businesses to ensure a consistent strategy and approach to Financial Planning
• Identify strategies with sales leadership to increase household penetration of planning across Wealth and P&C
• Accountable for the change management strategy around planning and enterprise-wide initiatives (i.e. new planning platforms, training and regulatory requirements)
Business Delivery and Operational Effectiveness (35%)
• Undertake analysis of the financial planning support structure across BMO; identify efficiencies and synergies of planning support and execution across businesses
• Drive execution of centralized plan support for PCD and Private Bank that contributes to revenue generation for department and LOBs
• Provide leadership and direction for BMO’s enterprise financial planning tools in Canada. This includes providing subject matter expertise and ensuring the development of tools aligns to business requirements and a best in class client experience
• Accountable for identifying needs for additional planning tools/calculators and providing strategic input around development
• Develop and lead a team of accredited financial planning experts that deliver financial planning support, plan creation, in-field delivery of plans, and subject matter expertise (delivered through thought leadership and sales tools)
• Leverage subject matter expertise on the team across Wealth businesses in Canada
• Stay abreast of industry best practices around financial planning
• Partner with Wealth Management Learning to provide direction on content, approach and delivery of Financial Planning training across the Lines of Business
• Perform competitor analysis to keep current with the competitive market place and to identify opportunities in BMOFG’s wealth planning offering
• Stay abreast of consumer wants and needs, industry trends and the current regulatory environment as it relates to financial planning
• Establish and continually benchmark BMO’s financial planning strategy relative to industry best practices
Risk Management and Control (10%)
• Provide oversight of the team that executes the process to audit the quality of financial plans in P&C, PCD and PB in Canada; ensures wealth planning policies and practices of the businesses are aligned to the industry standards and guidelines of financial planning
• Partner with LOBs, Sales Management and Compliance to ensure consistency and high quality of financial plans through the right controls and leadership oversight
• Provide oversight in the development and distribution of Management reporting to the PCG and P&C
• Proactively identify impacts to policy and procedures for access to financial planning software
• Ensure proper adherence to all aspects of First Principles Our Code of Conduct and Ethics
• Protect the Bank’s assets by adhering to all banking, investment and lending regulations (as appropriate), Policies and Procedures, legal and ethical requirements, process requirements, bank guidelines and established risk guidelines
Qualifications
Knowledge:
• Undergrad Degree, preferably with business orientation
• CFP Designation required
• Working knowledge of NaviPlan and/or other financial planning software applications
• Minimum of 10 years industry experience, including experience working with clients as a planning professional, proven leadership and management of accredited professionals
• Expert wealth management knowledge including products, competitive dynamics, consumer behaviour and asset gathering techniques with a proven track record in strategic planning and execution
• In-depth business and/or retail banking experience combined with deep understanding of the financial and behavioural drivers of profitability
• Financial services sales experience a definite asset
Skills:
• Expert influence skills
• Expert relationship management skills
• Expert communication skills (written and verbal)
We’re here to help
At BMO we have a shared purpose; we put the customer at the centre 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 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.
BMO 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. Accommodations are available on request for candidates taking part in all aspects of the selection process.