BMO Financial Group Private Client Division, Branch Operations Manager in Alberta, Canada
Under the direction of the Branch Manager, the Branch Operations Manager (BOM) is accountable for actively managing the day to day operations of the branch to ensure that the business objectives of profitability, market share and NPS are achieved. The BOM is accountable to lead a team of Branch Support Staff to ensure exceptional service in supporting the needs of the Sales Force within the branch.
The BOM is accountable for managing all of the risk and regulatory requirements for the branch by performing risk assessments and monitoring all activities to ensure there are no breaches in compliance. The BOM must identify and analyze factors which may affect risk mitigation within the branch and compliance with applicable regulatory requirements. The BOM must make effective recommendations on these matters to the Branch Manager, Assistant Branch Manager and Regional Compliance Officer and ensure that all risk and regulatory requirements remain current. The BOM is responsible for the management of all sales compliance as outlined in the Sales Administration Manual and ensuring all requirements are met.
Business Delivery and Operational Effectiveness:
In partnership with the branch management team, review and approve budget initiatives, and complete monthly reviews of branch operating statements to ensure effective management of branch costs
Develop and implement operational objectives, which includes the identification, reporting and management of all operational problems, irregularities and discrepancies to Branch Review registration requirements for IAs and support staff regarding transfers and trainees to ensure up to date procedures are being adhered to Manage the technology and infrastructure within the branch; set-ups/decommissions/moves, coordination, inventory reporting, and control of all PCs, printers, phones, fax machines, photo copy machines, scanners, and other office equipment and report all issues and anomolies as required Track and provide reporting to the BM on all new employee hires, changes, and departures to meet
Firm guidelines Manage New Issue allotments, allocations and Prospectus Files to ensure we are aligned to appropriate Bank policies and procedures
Manage Branch and IA house accounts, defunct (delisted) accounts and address unknown accounts. Management and compliance
Review and improve where possible existing branch operational methods / workflows
Provide ongoing operational, educational and problem solving support, and guidance to branch staff members
Review business activities, which include but are not limited to, client account Application Forms, trades, marketing, sales correspondence, and Tier 1 supervision of client accounts
Risk Management and Controls:
Manage and perform ongoing risk assessments and compliance reviews to ensure breaches in compliance are eliminated and that risk controls are operating appropriately Identify and analyze factors which may affect risk mitigation within the branch and compliance with applicable regulatory requirements Prepare and complete accurate documentation of compliance monitoring and risk assessments, reporting all findings to the Branch Manager, Assistant Branch Manager and Regional Compliance Officer
Execute necessary administrative reviews and filings according to Bank policies and procedures
Follow security and safeguarding procedures and apply appropriate due diligence for the prevention of loss due to fraud, counterfeiting, money laundering, or defalcation in accordance with Bank policy Protect the Banks assets by adhering to all banking, investment and lending regulations (as appropriate), all policies and procedures, legal and ethical requirements, process requirements, bank guidelines, and established risk guidelines
Ensure proper adherence to all aspects of First Principles, Our Code of Conduct and Ethics. Ensure that Branch organization and delegation templates are in place and up to date Monitor daily transactions, monthly transactions, and reports in accordance with IIROC guidelines and internal policies and procedures to ensure all identified risks are managed accordingly
Supervise all securities cage responsibilities (cheque and securities deposits, cheque issuance, vault, box count, etc.) and operational compliance in the branch Accountable for branch files on outstanding client complaints, hold mail accounts, insider clients, outside business activities, non-approved option trades and pledge accounts to ensure all files are up to date
Responsible for the management of all sales compliance as outlined in the Sales Administration Manual and ensuring all requirements are met
Provide leadership, direction, and planning to align tasks with branch, region, and overall organizational objectives
Recruit, develop, and promote the best talent; effectively deploy talent across the organization in accordance with the strategy and business plans; recruit, train, and develop branch staff as required
Provide problem solving/resolution skills to assist branch staff Manage and conduct the performance review process for all employees in the branch
Provide overall leadership and strategic direction to branch by setting context and direction, defining accountabilities, tasks and assignments, and establishing boundaries for decision-making and approvals
Set high standards and clear expectations; hold team accountable; coach and provide candid feedback;
Differentiate performers, and reward accordingly
Sustain a culture that focuses on clients, growth, and pace
Personal Effectiveness Support Firm sales and service goals in order to achieve financial growh targets Responsible for effective time management and to show commitment, initiative, and self-reliance for ongoing personal development and the achievement of career growth Contribute to the development achievement of team, branch, and firm goals through operational tracking and reporting. Use both formal and informal opportunities to coach and be coached
Ongoing focus on continuous improvement for self and branch operations team
Change and Innovation:
Increase the effectiveness and efficiency of existing operational methods and workflows by identifying, recommending, and implementing process improvement
Work effectively with partners to roll out new policies and procedures to branch Act as a champion of change
Knowledge and Skills
Supervisory and Leadership Capability and Experience
Exceptional people and relationship management skills Able to effectively communicate and implement change
Thorough knowledge of administrative policies as contained in Sales Administration Manual as well as those of Operations; Human Resources; Compliance; Documentation; Finance; Commissions; and Continuing Education Proactively and professionally manages the support teams and the operational objectives of the branch Previous experience and a thorough understanding of the investment/security industry Able to create strong working relationships with partners in head office and across all lines of business
Strong organizational skills
Ability to work independently with minimal direction
Enjoys a client/business environment Approachable and adaptable Values development of others
University degree or equivalent experience.
Canadian Securities Course (CSC) and Conduct and Practices Handbook Couse (CPH) are requirements to be officially licensed Branch Managers Course, and the Effective Management Seminar within 18 months of becoming licensed as a Supervisor Successful completion of 90 day BMO NB Investment Advisor course
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.