The Small Business Banker (SBB) is accountable to meet the financial needs of the relationship managed small business customer. The relationship managed small business customer is defined as a customer (or customers) representing a business entity with BMO relationship between $50M and $250M in lending or deposits whose commercial needs are straight forward and not complex. The SBB's primary accountability is to acquire new customers, deepen customer relationships and to know the local market in order to develop new and valuable opportunities.
The incumbent will manage an assigned, high value small business customer base of 200 to 300 customers and use complete customer conversations to assess customer needs and match them to BMOs SBB lending products and services. In addition, this role will determine growth opportunities within the BMO risk appetite to meet sales, service, loyalty and operational effectiveness objectives/targets. Finally, the SBB will deliver results through partnership with credit support and by maintaining referral relationships with personal, commercial, and wealth partners when broader or more complex financial needs are required.This role works with a high level of autonomy as the direct manager is offsite in most cases.
- 60%: A: Acquisition, Sales and Service
- 30%: B: Account Management and Planning
- 10%: C: Risk Management
A. Acquisition, Sales and Service
B. Account Management and Planning
- Achieve portfolio and revenue growth, sales and service objectives/targets by strengthening and deepening the relationship of assigned new and existing customers during every conversation by identifying opportunities to increase share of wallet, and portfolio balances, applying sales and service principles, practices and techniques and generating referrals to BMO Financial Group partners, as appropriate.
- Focused on achievement of all profitability and growth (sales, service and referral) targets, including community involvement activities and a local networking strategy.
- Contribute to the Commercial Community Plan by assessing competition and local market opportunities and provide recommendations to acquire new business and to identify and close gaps.
- Profile customers to develop a complete understanding of their small business and commercial banking needs and to identify those with more complex investment, financial planning and/or commercial banking needs for introduction to the appropriate branch employee or partner (e.g., Private Wealth Consultant, Financial Planner, FSM/Branch Manager, Commercial Account Manager, etc.), following established referral protocols while maintaining control and ownership of the customer relationship as appropriate.
- Leverage external partner relationships with Moneris, ADP, DandH, etc.As appropriate, partner with the FSM/Branch Manager or Financial Planner to develop a financial plan and ensure investment needs of customers are met.
- As appropriate, partner/refer to Financial Service Managers to identify/fulfill personal banking needs of the business owner.As appropriate, obtain direction, business development and commercial acumen from Commercial Account Manager and VP Commercial.
- On a relationship development basis, identify and establish relationships with prospective small business customers in order to grow portfolio and relationships through the acquisition of new customers and expansion of share of wallet.
- Provide Small Business Banking solutions that meet customers commercial business needs.
- T ake ownership of sales and service satisfaction by acting as a customer advocate in resolving problems/issues tactfully and effectively in accordance with Bank policy.
- Establish and enhance the Banks profile in the external community by participating in branch, business and community activities and creating opportunities to build business for the branch.
- Develop an understanding of cross channel sales referral processes, local market, and existing business relationships to maximize share of wallet, increase revenue, and to acquire new Small Business clients.
C. Risk Management
- Develop and implement a rolling twelve month proactive sales and service and business development plan for assigned Small Business customers to retain and expand commercial market share, grow revenue and portfolio balances as well as increase profitability, making revisions to your plan as appropriate.
- Apply business development and relationship management sales and service principles, practices and techniques, to support the achievement of target level sales of commercial lending as well as deposit products and services.
- Assess and prioritize customer relationships to align time and effort to support overall growth in retention and share of wallet. Enhance existing relationships to increase revenue by proactively uncovering potential for growth and exploring opportunities.
- Review and monitor performance against plan and implement steps necessary to address identified gaps, which will include making referrals as necessary, to take advantage of all business growth opportunities.
- Manage the transition of assigned customers using defined processes, including migrating customers to the appropriate BMO Financial Group partner (e.g. BMO Harris Private Banking, etc.) where appropriate.
- Understand risks and take appropriate actions as they relate to small business banking, deposit, lending and investment products, including all documentation, and any other requirements to maintain operational integrity within the branch.
- Understand regulatory and compliance requirements that include, but are not limited to, Anti-Money Laundering and Terrorist Financing Reporting requirements, FCAC consumer provision requirements, requirements and Privacy Act provisions and take appropriate action.
- Strictly maintain the confidentiality of both customer and Bank information to protect the customer and the Bank and ensure compliance with Bank Policies and Procedures.
- Manage risk and minimize losses through monitoring and controlling various reports and taking appropriate action ensuring compliance requirements, audits and verifications are completed in accordance with Bank Policies and Procedures.
- Take ownership of the risk as part of the first line of defense by ensuring credit recommendations are made in accordance with sound credit-granting principles and in compliance with the Bank's policies and related procedures, completing analysis, confirming security valuation and completing credit applications for authorization.
- Maintain customer information in an organized fashion; ensuring documentation and tracking are completed as appropriate and that information is captured and presented in a fashion that maximizes the use of Bank technology.
- Ensure adherence to all aspects of First Principles, our Code of Business Conduct and Ethics, including individual accountability as it relates to potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities.
- Follow security and safeguarding procedures and apply appropriate due diligence in accordance with Bank policy for the prevention of loss due to fraud, robbery, counterfeiting, money laundering or defalcation.
- Protect the Bank's assets by adhering to all everyday banking, business banking, investment and lending regulations (as appropriate), Policies and Procedures, legal and ethical requirements, process requirements, bank guidelines and lending process requirements and established risk guidelines.
- Mitigate risks identified and make credit recommendations that are in accordance with sound credit granting principles and in compliance with the Bank's philosophy and principles outlined in Corporate Risk Policy as well as appropriate supporting Policies and Procedures.
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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.
To find out more visit us at https://bmocareers.com .
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. To request accommodation, please contact your recruiter.