Managing Director, Client Documentation Onboarding

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BMO Capital Markets is a leading, full-service financial services provider. We offer corporate and investment banking, treasury management, as well as research and advisory services to clients around the world. #bmocapitalmarkets

MD, Client Documentation Onboarding

JOB DESCRIPTION

Background: The Managing Director, Client Documentation Onboarding will spearhead the capability within Client Enablement of coordinating standard processes, along with resolution of complex risk issues, in document negotiations (e.g., ISDAs, CSA, Prime Finance agreements, etc.), to successful outcomes for Global Markets, which will result in increased revenue.

The MD will both build effective systems and processes to smoothly orchestrate onboarding documentation processes at scale while also personally engaging where necessary to facilitate moving more complex or important documentation risk issues to resolution. The MD will work with Sales, the Client Onboarding function, Legal, Credit (1st and 2nd line), the XVA desk, market risk, technology delivery, technology product management, and other teams in delivering the mandate.

As the lead for the Client Documentation Onboarding function, the MD will build appropriate expertise within the team, within the client onboarding function, and encoded in systems and processes as appropriate. The MD will partner closely with sales management, strategy, risk, legal, and credit teams to ensure we understand the legal and related credit risks and issues inherent in new strategies and markets so we can proactively address them before they block client documentation onboarding.

The ideal candidate will have deep experience in negotiating derivatives and other capital markets legal agreements, strong understanding of banking risk and credit needs, strong understanding of market terms and considerations, strong understanding of banking onboarding lifecycles, and a proven ability to lead stakeholder groups to successful client and bank outcomes from onboarding documentation processes.

RESPONSIBILITIES INCLUDE:

Negotiations Orchestration:

• Build and oversee an engagement model between Sales, Client Onboarding, Legal, Credit, and other stakeholders.
• Partner with Product Management and Technology delivery to ensure our systems support efficient, transparent, and effective negotiations processes.
• Lead efforts on individual cases and risk issues to enable onboarding and negotiations to progress to a successful outcome for the bank and for the client within our risk appetite.  
• Provide expertise, monitor, and intervene when necessary, over the portfolio of negotiations/cases to ensure the portfolio moves forward to successful outcomes.

Stakeholder Management:

• Develop trusted relationships with stakeholders, ensuring that risks, issues, and cases are managed appropriately and within the agreed engagement model and within a timely manner.
• Collaborate with internal stakeholders (Sales, Client Onboarding, Legal, Credit 1st Line Portfolio Management and 2nd Line Credit Risk, New Accounts, XVA, Know Your Client, Middle Office/Operations, Compliance, Risk, Technology, etc.) to:

  Advance documentation risk decisions and negotiations individually and as a portfolio forward to successful outcomes

  Identify problems that can be fixed systematically or for individual cases to then prioritize and address

  Perform post-mortem reviews on the onboarding and credit adjudication processes, documentation efforts and negotiations and share results and recommendations to improve cross-functional processes

  Identify and address potential problems in regulatory change with guidance from Legal or revenue strategies/new products and address to proactively address

  Develop and share insights and knowledge – particularly training and knowledge sharing to Client Onboarding

• Spend significant time with legal negotiators, credit and risk professionals inside and outside the firm to keep abreast of trends and market developments.
• Develop Management rapid escalation procedures for senior manager attention when credit adjudication processes, documentation efforts and/or negotiations encounter an irregular issue preventing completion.

Client Experience:

• Focus on delivering a superior White Glove onboarding experience for sales & clients through ownership of the process and indirect involvement in selected individual negotiations
• Gather feedback from clients (directly and indirectly), line of business partners, onboarding staff (in Client Onboarding, New Accounts, Know Your Client/Due Diligence, Credit, Legal, Middle Office/Operations, etc.), and other internal teams to continuously improve the negotiation process and experience.

Performance Metrics and Reporting:

• Help define, measure, and monitor metrics related to the documentation and credit adjudication processes supported by the Product Management function and the Reporting & Analytics function.
• Provide regular updates and reports to senior management on onboarding and documentation completion performance and progress against agreed KPIs.

Management and Leadership:

• Managing, mentoring, coaching, and supporting resources on the team.
• Selection, hiring and balancing, of human resources.

QUALIFICATIONS:

• Strong legal and/or credit risk experience related to capital markets products (derivatives, prime, etc.). A qualified lawyer with practical experience negotiating derivative legal agreements is strongly desired. Note that the incumbent will not be practicing law or providing legal advice as that is provided by the 2nd line of defense under BMO’s legal risk framework.
• Experience with sell-side legal and/or credit negotiations leadership in the first line of defense or equivalent experience is required.
• Excellent communication, negotiation, leadership, and judgment is required.
• Demonstrated ability to figure out solutions to hard problems with many constraints, using sound judgement to assess risks, and lay out arguments in a well-structured, data-informed, written narrative.
• Proven ability to engage with at all levels internally and externally to solve complex high-stakes and high-pressure issues using a constructive and collaborative approach.

The salary range for this role is $170,000 up to $210,000 CAD (subject to the candidate meeting the specific skills, experience, education, and qualification requirements)

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/ca/en.

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. To request accommodation, please contact your recruiter.

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.