The Head of Law Firm & Professional Services Banking is responsible for leading the strategy, development, and management of banking solutions tailored to law and professional services firms. This role has end to end accountability for an existing loan and deposit portfolio serving both firms and individual partners, while driving disciplined growth of the broader banking platform across the United States. The position may also evaluate and support strategic expansion opportunities beyond North America.
The Head of Law Firm & Professional Services Banking works closely with senior leadership and cross functional teams across BMO U.S. Wealth Management to drive the rollout, governance, and continuous enhancement of Law Firm & Professional Services banking capabilities. They will ensure that offerings are market leading, scalable, and fully aligned with client needs, internal risk policies, and BMO's long term strategic objectives.
As a recognized subject matter expert, the Head of Law Firm & Professional Services Banking provides executive level leadership and technical oversight across the banking platform, including complex credit analysis, transaction structuring, credit decisioning, and ongoing portfolio risk management. The role establishes standards and best practices across firm level and partner level banking portfolios, ensuring disciplined growth, strong risk management, and consistent execution across the portfolios.
Key Responsibilities:
Provide superior customer service and portfolio management banking services, including both lending and deposits, for existing and prospective Law Firm & Professional Services clients.
Offer technical expertise for proactive credit analysis, structuring, decisions, and portfolio monitoring.
Contribute to the development of the Law Firm & Professional Services banking business plan and executes to meet all identified product objectives.
Foster a culture aligned with the company's purpose, values, and strategy, fostering diversity and inclusion.
Attracts, retains, and enables the career development of top talent, across the Law Firm & Professional Services team, including Banking Specialists, Banking Portfolio Managers, Underwriters and Banking Associates.
Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance. Monitors performance results; develops action plans to resolve gaps.
Regularly connects work to BMO's purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
Manage the preparation of new Law Firm & Professional Services banking proposals or presentations for clients/prospects.
Provides advice and support where needed with a focus on unique and complex Law Firm & Professional Services credit transactions for prospects and clients.
Assist in identifying cross-selling opportunities in conjunction with relationship managers to increase client penetration for lending, investments, and deposits.
Negotiate directly with clients on new and existing loan opportunities.
Works directly with clients alongside relationship managers in the event of deteriorating credit situations
Provide day-to-day technical support and management of loans.
Completes comprehensive analysis of the Law Firm & Professional Services loan portfolio with respect to credit risk, concentration risk, loan profitability and ad-hoc assessments as required.
Ensures effective processes and controls are in place and adhered to, minimizing risk and maintaining the overall quality of the portfolio within acceptable levels.
Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution
Oversees the maintenance and review of operating financial guidelines and policies to ensure alignment between Bank policies and the business / market requirements.
Designs and produces regular and ad-hoc reports and dashboards.
Act as a trusted advisor to senior leaders for making business decisions and implementing strategic initiatives in relation to Law Firm & Professional Services banking products.
Leverage an expert understanding of the Law Firm & Professional Services industry, including identifying challenges and recommend measures to improve organizational effectiveness.
Networks with Law Firm & Professional Services industry contacts to gather competitive insights and best practices
Lead change management programs and develop communication strategies to positively influence or change behavior.
Ensure effective processes and controls are in place to minimize risk and maintain loan portfolio quality.
Participate in assigned audits and compliance reviews, ensuring adherence to the code of conduct and ethical guidelines.
Acts as a subject matter expert on relevant lending regulations and policies
Ensures timely resolution of all client questions and concerns, both internal and external.
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 specialist resource across BMO.
Qualifications:
Typically 9+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
Bachelor's degree in Finance or related field, MBA preferred.
Extensive credit and risk expertise.
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:
$150,700.00 - $261,800.00
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.
