BMO Harris Bank provides lending, treasury management, and FRB settlement/clearance services to more than 100 broker/dealers, futures commission merchants, exchanges and clearing houses in the U.S. The long-standing presence, experience and depth of knowledge possessed by BMO Harris in this market segment present an opportunity to expand our service offering to the broader government securities clearance population. We are seeking an experienced Senior Product Manager to manage the overall relationship with internal and external stakeholders as we elevate the BMO Harris brand and execute our growth campaign.
The Product Manager has organizational ownership of Securities Safekeeping and FRB Settlement and Clearance service, including the products’ vision, roadmap, and execution. The Senior Product Manager manages the assigned product(s), with a large degree of independence, ensuring short and long term profitability objectives and market share goals are met. Cross-functionally manage appropriate line and organizational areas to ensure vision and execution is aligned with product strategy.
- Be a sales leader.
- Identify target markets and business prospects for the purposes of driving additional revenue and profitability broadly.
- Partner with Sales and Banking Officers on technically complex business calls in order to generate new business and strengthen existing accounts.
- Provide sales support in the form of new products, product enhancements, external perspectives, sales campaigns, and conference / trade show engagement.
- Develop standard pricing categories, recommend pricing and changes to pricing in accordance with profitability objectives, and review and recommend all exception pricing.
- Manage people at a variety of levels and organization functions through a cross-functional management role (non-direct reports).
- Build communication as appropriate at executive and senior management level.
- Product manager has responsibility to influence and successfully lead operations, technology, sales management, and other teams to deliver overall product success.
- Work autonomously while understanding when to escalate.
- Build a product vision and roadmap.
- Manage the product development process by leading the planning, designing, recommending of new products, enhancements and conversions, implementing and maintaining of assigned Cash Management product(s).
- Ensure product roadmap reflects transformational innovations, latest industry research, and competitive trends.
- Develop business cases to achieve product development roadmap. Construct and analyzes product(s) budget including revenue impact of product(s) and adjustments.
- Lead market research and external thought leadership.
- Drive best-in-class client and employee experience.
- Develop broad reach customer and employee documents to disperse knowledge through client and employee base, removing support demands from product management. This includes identifying information needs of employees and clients, preparing user manuals, training programs, product profiles, collateral materials and product updates for assigned product(s), conducting employee and client training programs.
- Facilitate and ensure resolution of all issues surrounding the products(s) including those related to regulatory requirements, sales performance, costs, systems, operations, promotional, training and communication.
- Protect the bank and our clients.
- Develop risk profiles and controls; monitors and addresses all aspects of risk related to assigned product(s).
- Coordinate legal agreement development and client agreement modification.
- Negotiate and manage vendor agreements.
- Develop and implement quality standards, product governance, and regulatory requirements\
- Monitors billing and costing accuracy. Prepares product budget, forecasts and monitors financials of assigned product(s).
- Technical knowledge or aptitude with products such as FED Direct, BNY/Mellon BDC, DTCC, SWIFT (MT5xx), as well as P2P communication, electronic data interchange, and other technical solutions. This doesn’t require programming knowledge but requires a comfort with dealing with technical staff, understanding technology, and translating that for sales opportunities and solutions.
- Other duties may be assigned as needed.
- 10+ years of experience in the securities or financial services industries, or equivalent.
- Responsible for overall product strategy, profitability, design, and sourcing of Safekeeping service.
- Liaises with client's technology teams, establishing relationship management as needed.
- Understanding of Broker Dealer Clearance and Settlement platforms. Experience with FICC, bi-lateral repo, collateral management, and intraday liquidity a plus.
- Ability to lead, influence, and collaborate with many internal stakeholders across many teams to support clients.
- Vision for operational excellence, including driving efficiency, quality, and client experience.
- Understands and can effectively work with Treasury and others areas in managing risks including intraday liquidity risk, operational risk, etc.
- Being a thoughtful communicator who can express complex ideas in simple, practical terms for a wide range audiences.
- Experience communicating and working directly with senior managers internal to the firm. Ability to translate complex concepts into accessible content is a must.
- Good understanding of the relevant marketplace, competitive landscape and industry drivers in the relevant region.
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 at https://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 is an Equal Opportunity Employer for all, inclusive of Minorities, Women, Veterans, and Persons with Disabilities.