Job Summary:
The CRE Product Manager will be responsible for overseeing the development and management of commercial real estate lending product offering in U.S. Wealth Management Banking. Management of the existing commercial real estate loan portfolio while driving growth for the business within the United States.
This role involves collaborating with various teams including origination, portfolio management, underwriting, compliance, legal and risk to ensure new transactions meet financing guideline requirements and existing portfolio fits within the Bank's credit risk appetite framework. The CRE Product Manager is also responsible for leading effort in reviewing and updating product guidelines to ensure it remains market competitive.
The CRE Product Manager is an expert in the commercial real estate industry and will provide technical expertise for proactive credit analysis, credit structuring, pricing decisions, portfolio monitoring and leading the strategy for the business.
Key Responsibilities:
Leading the development of the CRE lending business in U.S. Wealth Management Banking and executing to meet business and product objectives.
Providing technical expertise to origination team to properly identify quality CRE projects in strong submarkets, providing structuring and underwriting guidance and ensuring proper risks and mitigants are identified.
Overseeing the preparation of new CRE lending proposals by origination team to clients and prospects.
Negotiate directly with clients in conjunction with origination team new CRE loan opportunities.
Guiding underwriting team on property and submarket analysis.
Managing the growth of the CRE portfolio, ensuring that all KPIs and metrics for the product remain within risk tolerance levels.
Contribute to the development of the CRE lending business plan and executes to meet all identified product objectives including returns.
Works directly with clients alongside relationship managers and special assets in the event of deteriorating credit situations.
Partnering with the Commercial Real Estate team to ensure alignment of the Wealth CRE lending business within CRE Industry objectives and risk appetite. Ensuring sufficient limits are allocated for the Wealth CRE lending business.
Foster a culture aligned with the company's purpose, values, and strategy, fostering diversity and inclusion.
Regularly connects work to BMO's purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
Networks with CRE lending industry contacts to gather competitive insights and best practices
Lead change management programs and develop communication strategies to positively influence or change behavior.
Participate in assigned audits and compliance reviews, ensuring adherence to the code of conduct and ethical guidelines.
Protects the Bank's assets by adhering to all banking, investment and lending regulations, policies, and procedures, legal and ethical requirements, process requirements, bank guidelines, and established risk guidelines.
Operates at a group/enterprise-wide level and serves as a senior resource across BMO.
Qualifications:
Typically 10+ years of relevant experience in CRE with focus on Wealth business preferred.
Bachelor's degree in Finance or related field, MBA preferred.
Deep credit knowledge including credit policy, credit structuring and work-out experience a plus; credit officer designation preferred.
Expert knowledge and technical proficiency related to private wealth management strategies, issues and trends.
Broad and diverse background in financial service industry and expert knowledge of the banking services for the high net worth / ultra high net worth markets.
Expert knowledge of all applicable compliance and industry regulations.
If a Credit Qualifiable job, Credit Qualifications and associated credit knowledge and skills according to the credit portfolio requirements and qualification standards.
Seasoned expert with extensive industry knowledge.
Technical leader viewed as a thought leader for innovation.
Salary:
$164,400.00 - $285,600.00
Pay Type:
Salaried
The above represents BMO Financial Group's pay range and @type.
Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group's expected target for the first year in this position.
BMO Financial Group's total compensation package will vary based on the pay @type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards
About Us
At BMO 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 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://jobs.bmo.com/us/en
BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereo@types, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.
BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to BMOCareers.Support@bmo.com and let us know the nature of your request and your contact information.
Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.
