Deposits Specialist

  • Company:
    BMO Harris Bank
  • Location:
  • Salary:
    negotiable / monthly
  • Job type:
    Full-Time
  • Posted:
    3 weeks ago
  • Category:
    Customer Service

The Deposit Specialist is accountable for the successful achievement of the annual deposit sales plans (deposit signifies liquid and term investments) of their division. This is accomplished by providing deposit sales training and coaching to enhance the capabilities and improve the deposit sales performance of client facing employees within Business Banking. The Deposit Specialist will work towards instilling the understanding of cash flow and liquidity from a client perspective so that Relationship Managers and Treasury & Payments Specialists can use the deposit related tools to solve and enhance the client situation at hand. This role also drives growth in the Business Banking deposit and treasury/payments space by assisting sales employees with deal structuring, including deposits advice, pricing, acquisition and balance maintenance. While supporting the national strategy and initiatives, this role is also accountable to apply local market knowledge to further leverage the Request for Proposal (RFP) opportunities (inclusive of MUSH/PSE) in their division(s). This role works very closely with the BMO Business Financing & Deposit products team with a dotted line reporting relationship into the Business Deposits team in order to align strategic initiatives, share product knowledge and provide feedback from front line back to the Manager/Senior Manager – Treasury & Payments within BMO Customer Solutions team. The Key accountabilities for Deposit Specialists are equally divided into 3 categories explained below: Education and Thought Leadership In alignment with business strategy and financial objectives, understand and work towards Deposit NIE and NIR plan for the division. 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 sales force. Organize and manage regular sales meetings/ client conferences to enhance the effectiveness and efficiency of the sales force. Provide deposit sales training and coaching to maximize sales channel effectiveness. Enhance BMO deposit product knowledge, expertise and awareness amongst regional Business Banking sales force, specifically Relationship Managers (RM and Senior RM) and Treasury & Payment Specialists (TPS). 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. Understand and be familiar with the bank’s more complex deposit offers, referral process and have increased familiarity to Business Banking Treasury & Payment products. Deal Support Be the subject matter expert for deposits and provide assistance with complex deal structuring and build that experience in the sales force. Work towards instilling the understanding of cash flow and liquidity from a client perspective so that Relationship Managers and Treasury & Payments Specialists can use the deposit related tools to solve and enhance the client situation at hand. Act as a central point of contact to answer/solve deposit related queries and create a community with the fellow deposit specialists to share ideas and spread it across the broader salesforce. 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. Prospecting & New Acquisition Support the RFP process and own the client facing aspect of RFPs. Key activities to include: Gather intelligence before RFPs hit the market, support RFP writing teams with their insights, own the RFP submission and lead client discussions with Relationship Manager and Treasury & Payment Specialist. Upon acquisition, hand over the clients to a Relationship Manager. Lead prospecting workshops within division supported by the Business Banking Deposits team and the local line leadership (including Business Bankers, Moneris product team and Treasury & Payment team) The Deposit Specialist is accountable for the successful achievement of the annual deposit sales plans (deposit signifies liquid and term investments) of their division. This is accomplished by providing deposit sales training and coaching to enhance the capabilities and improve the deposit sales performance of client facing employees within Business Banking. The Deposit Specialist will work towards instilling the understanding of cash flow and liquidity from a client perspective so that Relationship Managers and Treasury & Payments Specialists can use the deposit related tools to solve and enhance the client situation at hand. This role also drives growth in the Business Banking deposit and treasury/payments space by assisting sales employees with deal structuring, including deposits advice, pricing, acquisition and balance maintenance. While supporting the national strategy and initiatives, this role is also accountable to apply local market knowledge to further leverage the Request for Proposal (RFP) opportunities (inclusive of MUSH/PSE) in their division(s). This role works very closely with the BMO Business Financing & Deposit products team with a dotted line reporting relationship into the Business Deposits team in order to align strategic initiatives, share product knowledge and provide feedback from front line back to the Manager/Senior Manager – Treasury & Payments within BMO Customer Solutions team. The Key accountabilities for Deposit Specialists are equally divided into 3 categories explained below: Education and Thought Leadership In alignment with business strategy and financial objectives, understand and work towards Deposit NIE and NIR plan for the division. 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 sales force. Organize and manage regular sales meetings/ client conferences to enhance the effectiveness and efficiency of the sales force. Provide deposit sales training and coaching to maximize sales channel effectiveness. Enhance BMO deposit product knowledge, expertise and awareness amongst regional Business Banking sales force, specifically Relationship Managers (RM and Senior RM) and Treasury & Payment Specialists (TPS). 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. Understand and be familiar with the bank’s more complex deposit offers, referral process and have increased familiarity to Business Banking Treasury & Payment products. Deal Support Be the subject matter expert for deposits and provide assistance with complex deal structuring and build that experience in the sales force. Work towards instilling the understanding of cash flow and liquidity from a client perspective so that Relationship Managers and Treasury & Payments Specialists can use the deposit related tools to solve and enhance the client situation at hand. Act as a central point of contact to answer/solve deposit related queries and create a community with the fellow deposit specialists to share ideas and spread it across the broader salesforce. 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. Prospecting & New Acquisition Support the RFP process and own the client facing aspect of RFPs. Key activities to include: Gather intelligence before RFPs hit the market, support RFP writing teams with their insights, own the RFP submission and lead client discussions with Relationship Manager and Treasury & Payment Specialist. Upon acquisition, hand over the clients to a Relationship Manager. Lead prospecting workshops within division supported by the Business Banking Deposits team and the local line leadership (including Business Bankers, Moneris product team and Treasury & Payment team) Analytical Thinking Business Acumen Business Valuation Conflict Management & Resolution Environmental Understanding Financial Understanding Market Strategy & Planning Sales & Negotiation Skills Problem Solving Relationship Management Risk Management Strategic Business Planning Credit Qualified with Commercial Limits as appropriate In-depth understanding of Business Banking Products, Commercial Lending Process, technology, Policies & Procedures, Financing Guidelines, and Standard Operating Procedures and supporting processes DREAM designation may be required depending on the portfolio and market 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. 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. Analytical Thinking Business Acumen Business Valuation Conflict Management & Resolution Environmental Understanding Financial Understanding Market Strategy & Planning Sales & Negotiation Skills Problem Solving Relationship Management Risk Management Strategic Business Planning Credit Qualified with Commercial Limits as appropriate In-depth understanding of Business Banking Products, Commercial Lending Process, technology, Policies & Procedures, Financing Guidelines, and Standard Operating Procedures and supporting processes DREAM designation may be required depending on the portfolio and market 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. 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. Commercial BankingCommercial BankingCanada-Quebec-MontrealCanada-Quebec-MontrealP&C Distribution-X000020P&C Distribution-X000020full-timefull-time10/15/1810/15/1811/30/1811/30/18