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Director of Business Development
BMO Financial Group
Chicago, IL, United States
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Director of Business Development, Deposit & Liquidity Solutions
Description
The US Commercial Banking team at BMO is responsible for driving treasury and payments growth, and a key element of this includes increasing our deposit business. The Director of Business Development is accountable for driving our deposit growth strategy by bringing new business to the bank, supporting deals where liquidity management is a consideration and helping their peers succeed by sharing knowledge, raising capability and contributing to BMO thought leadership in the market. As a bank, we have aggressive deposit growth plans and the Deposit Specialists will help their division achieve these goals of their division.
Although this role is targeted to driving deposit growth, we are a relationship bank, so a part of this role will involve working with your treasury and payments partners, relationship managers (lenders) and others to provide a holistic offering to our clients and prospects with revenues above $20MM. A part of the role will also involve collaborating with other Deposit Specialists from other regions to support national strategies and initiatives.
Key Accountabilities
Prospecting & New Acquisition
• Recognize and create sales opportunities (independently)
• Develop a healthy pipeline of prospects for deposit opportunities
• Close on new names (complete relationship i.e. Deposit / Liquidity, TM, Card, Lending and other related investment solutions e.g. GAM, Wealth) by assembling a team of RM, TPS and Card SME as required
• Establish relationships with influencers in deposit rich industries
• Relationship management will still rest on the RM and TPS SP
• Support the RFP process and own the client facing aspect of RFPs.
Deal Support
• Partner with RMs and TPS Sales to expand Deposits from prospects (opportunity identified by TPS SP or RM).
• Partner with RMs and TPS Sales to expand (farm) Deposits from existing clients.
• Partner with deal team for Client Action Plan.
• Be the deposit / liquidity expert during client meetings / pitches and provide assistance with complex deal structuring to address client needs.
• Act as a central go-to person for your TPS and RM peers in the region as it relates to client situations/needs.
• Proactively reach out to Relationship managers and Treasury & Payment Specialists to share deposit-centric product insights, sales insights and client discussion tactics.
• Be aware of the market dynamics and competitive offers that can be passed onto the sales teams and product teams to improve our positioning within the market.
Education
• Create education forums for business partners (TPS, RMs, etc.)
• Establish liquidity management sales collateral in partnership with product and sales support teams
• Organize client/prospect events focused on Liquidity management
• Develop whitepapers / points of view for the market to position BMO as a thought leader in this space
• Public speaking at industry events (e.g. Windy City, AFP, etc.) to maintain BMOs presence/visibility among financial professionals.
• Participate in a community with the fellow deposit specialists to share ideas and spread it across the broader salesforce.
• Provide input into the development of comprehensive and integrated training support programs and relevant tools in support of baseline and performance enhancement learning related to sales & service effectiveness for the entire salesforce.
• Enhance BMO deposit product knowledge, expertise and awareness amongst regional lending sales force, specifically Relationship Managers.
• Contribute local market knowledge to the planning, forecasting and measuring of sales force results against the sales plan objectives. Identify gaps and opportunities and make recommendations to improve sales results.
Qualifications
Experience
• Expert knowledge of deposits, liquidity management and investments (7-10 years of experience)
• Proven sales, relationship management or corporate treasury experience
• Experience in managing product sales and distribution programs
• Up to 30% travel
Competencies
• Banking knowledge, including knowledge of Treasury and Short-term investments businesses
• Strong quantitative and qualitative analytical skills - specifically, proven ability to present findings in concise verbal and written presentations
• Strategic thinker with the ability to motivate and drive tactical execution
• Ability to multi-task in a fast-paced environment
• Sound understanding of accounting and finance concepts
• Successful track record in business development and/or deal support
• Market strategy & planning
• In-depth understanding of Commercial Banking products, the lending process, financial guidelines, investment policies, etc.)
• Must be an entrepreneurial self-starter that is driven to meet aggressive targets
Skills
• Expert problem solving, focused on solutions
• Consulting mindset
• Relationship Management
• Leadership, partnership and influencing skills
• Communication and presentation skills
• Organizational and administrative skills
• Undergraduate degree required (MBA would be an asset)
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.
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 is an Equal Opportunity Employer for all, inclusive of Minorities, Women, Veterans, and Persons with Disabilities.