Head, Retail Deposits Product
Company: Bank of Montreal
Posted on: April 10, 2021
Researches, defines, aligns, develops, and implements sales and
marketing strategies with P&L (profit and loss) accountability
to enable the sales force to effectively sell, fulfill, and service
new and existing individual or portfolio of banking products and
improve the customer experience. Carries out market research,
forecasting, pricing, and competitive analysis, monitors product
and system performance, and assesses problems to develop and
implement solutions. Manages product risks in compliance with
legal, regulatory, and risk compliance, and reporting. Collaborates
with internal partners across the enterprise to take products to
- Manages people and leads a team capable of delivering the
desired business results.
- Acts as a trusted advisor to senior leaders for making business
decisions and implementing strategic initiatives
- Develops an expert understanding of business/group
- Networks with industry contacts to gather competitive insights
and best practices.
- May consult to or serve on various committees and task
- Makes strategy and new initiative recommendations to senior
leaders on strategy and new initiatives, based on an in-depth
understanding of the business/group.
- Acts as a subject matter expert on relevant regulations and
- Assists in the development of strategic plans.
- Identifies emerging issues and trends to inform
- Recommends business priorities, advises on resource
requirements, and develops roadmap for strategic execution.
- Develops sales strategy, growth metrics, and plans to achieve
- Determines product lifecycle in development of product and
- Manages resources and leads the execution of strategic
initiatives to deliver on business and financial goals.
- Determines product lifecycle.
- Supports the execution of strategic initiatives in
collaboration with internal and external stakeholders.
- Conducts independent analysis and assessment to resolve
- Develops business cases by identifying needs, analyzing
potential options, and assessing expected returns on
- Provides recommendations on product lifecycle.
- Acts as the prime contact for internal/external stakeholder
relationships, which may include regulators.
- Builds effective relationships with internal/external
- Ensures alignment between stakeholders.
- Defines business requirements for analytics and reporting to
ensure data insights inform business decision making.
- Oversees the development of business analytics and insights
(e.g. portfolio profitability tracking, customer analytics, revenue
forecasts, operations metrics, trend analytics, and predictive
- Leads, develops, and manages strategies for reporting and
forecasting and/or analytics teams within the business.
- Designs and produces regular and ad-hoc reports, and
- Breaks down strategic problems, and analyzes data and
information to provide insights and recommendations.
- Monitors and tracks performance, and addresses any issues.
- Leads change management programs of varying scope and type,
including readiness assessments, planning, stakeholder management,
execution, evaluation and sustainment of initiatives.
- Supports change management of varying scope and type; tasks
typically focused on execution and sustainment activities.
- Leads the execution of operational programs; assesses and
adapts as needed to ensure quality of execution.
- Provides input into the planning and implementation of
- Executes work to deliver timely, accurate, and efficient
- Defines, establishes, and monitors key product performance and
growth metrics to provide a deep understanding of financial
- Leads/supports contract negotiations with vendors and external
partners, balancing cost, risk, and performance.
- Understands and oversees end-to-end customer experience that
may include interactions with clients and sales.
- Uses market research, customer insights analysis, and
competitive intelligence to develop strategy.
- Develops and implements plans to address identified product
gaps or issues.
- Manages risk associated with portfolio of products, including
setting risk parameters and tolerance for losses.
- Sets policies for product portfolio.
- Develops and implements action plans that meet financial and
- Conducts complex market research, competitive intelligence, and
- Develops problem evaluation frameworks and defines research
- Assesses customer/consumer and channels analysis and develops
- Monitors key product performance and growth metrics to identify
trends and recommend action plans.
- Leads/oversees the management of vendor relationships and
external partnerships and provides guidelines for execution;
ensures that all agreements are met as per requirements.
- Resolves internal, complex or higher risk customer escalations
or policy exceptions, which may include interactions with clients
- Reviews analysis of issues and identifies gaps and
- Provides competitive analysis and benchmarking to identify
product strengths and gaps, and extract insights.
- Analyzes customer/consumer insights and channel data to
identify strengths and gaps, and extract insights.
- Completes internal and regulatory reporting, and
- Identifies existing and potential risks and develops risk
management controls and processes.
- Develops and maintains product directives and policies.
- Supports development of key metrics and identification of
- Gathers customer and sales feedback and analyzes issues.
- Acts as the day to day contact for vendors; supports the
implementation, maintenance, and sustainment of vendor
- Leads/participates in the design, implementation, and
management of core business/group processes.
- Gathers basic market research and competitive intelligence,
including pricing, from publicly available information.
- Runs analyses and reports that support risk management and
- Defines and implements business cases and strategic roadmaps
for banking products and services, including project and budget
- Designs, implements, manages, and enhances a single product or
suite of products throughout the product lifecycle.
- Develops, implements, and monitors key metrics and action plans
to optimize financial performance
- Continuously improves processes to identify issues and deliver
optimal customer experience.
- Works with partners to develop salesforce training and
materials and manages change.
- May support the sales team in development of client deals and
- Develops and maintains relationships with external partners and
- Creates the marketing strategy, including offers and campaigns,
and works with Marketing and other partners to execute.
- Develops, implements, and manages product documentation,
templates, and requirements to ensure they accurately reflect
product and systems functionality.
- Influences and/or determines credit product risk parameters and
- Operates at a group/enterprise-wide level and serves as a
senior specialist resource across BMO.
- Influences how teams/groups work together.
- Applies expertise and thinks creatively to address unique or
ambiguous situations and to find solutions to multiple,
interdependent, complex problems.
- Communicates abstract concepts in simple terms.
- Fosters strong internal and external networks and works with
and across multiple teams to achieve business objectives.
- Anticipates trends and responds by implementing appropriate
- Broader work or accountabilities may be assigned as
- Typically 9+ years of relevant experience and post-secondary
degree in Business or a related field of study or an equivalent
combination of education and experience.
- Strong experience with consumer / commercial credit applicable
to retail and business financing products.
- Strong experience working with retail and business product
fundamentals, including product design, functionality, and related
policies and procedures
- Strong knowledge of product delivery infrastructure systems and
underlying product interdependencies.
- In-depth retail and business banking environmental awareness /
- In-depth risk management associated with new and existing
product development and management.
- Strong knowledge of process coordination and management.
- Strong knowledge of banking product management and associated
industry and regulatory requirements.
- Building business cases - in-depth
- Researching market trends - in-depth
- Relationship management - in-depth
- Analytics and reporting - in-depth
- Product marketing - in-depth
- Software and systems architecture knowledge -
- Financial Understanding - good/in-depth
- Seasoned expert with extensive industry knowledge.
- Technical leader viewed as a thought leader for
- Analytical and problem solving skills - Expert.
- Influence skills - Expert.
- Collaboration & team skills; with a focus on cross-group
collaboration - Expert.
- Able to manage ambiguity. We're here to help At BMO Harris Bank
we are driven by a shared Purpose: Boldly Grow the Good in business
and life. It calls on us to create lasting, positive change for our
customers, our communities and our people. By working together,
innovating and pushing boundaries, we transform lives and
businesses, and power economic growth around the world. 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 N.A. is an equal
opportunity/affirmative action employer. All qualified applicants
will receive consideration for employment without regard to sex,
gender identity, sexual orientation, race, color, religion,
national origin, disability, protected Veteran status, age, or any
other characteristic protected by law. Accommodations are available
on request for candidates taking part in all aspects of the
selection process. To request accommodation, please contact your
recruiter. Posted 21 Days Ago Full time R210004786 About Us BMO
Serving customers for 200 years and counting, BMO is a highly
diversified financial services provider - the 8th largest bank, by
assets, in North America. With total assets of $728 billion as of
October 31, 2018, and a team of diverse and highly engaged
employees, BMO provides a broad range of personal and commercial
banking, wealth management and investment banking products and
services to more than 12 million customers and conducts business
through three operating groups: Personal and Commercial Banking,
BMO Wealth Management and BMO Capital Markets.
We serve Canadian clients through BMO Bank of Montreal--, our
personal and commercial banking business, BMO Nesbitt Burns--*, one
of Canada's leading wealth management firms, and BMO Capital
Markets---, our North American investment and corporate banking
In the United States, clients are served through BMO Harris Bank, a
major U.S. Midwest personal and commercial bank, and BMO Private
Bank, with wealth management offices across the United States, as
well as BMO Capital Markets---, our North American investment and
corporate banking division.
We help our customers make money make sense by delivering the
broadest range of financial services through a single point of
contact. Our financial service professionals provide access to any
services our customers require across the entire enterprise.
Keywords: Bank of Montreal, Chicago , Head, Retail Deposits Product, Hospitality & Tourism , Chicago, Illinois
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