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The Vice President, Financial Planning is responsible for the building and setting of goals for, managing the daily activities of, and the coaching of the Financial Planners and Investment Fund Specialists within a defined market area. The incumbent will aim to grow the bank’s market share in retail investments (BMO Mutual Fundsand Term Investments) and refer as appropriate to PCG partners, while training, coaching, and mentoring a team in how to provide a great financial planning experience for our customers. The Vice President, Financial Planning is a key contributor to bank revenue through the management of the daily activities of the team to consistently meet and exceed targets set for the team.
Sales and Service Leadership
- Link long-range vision to support the team’s in-year business goals by establishing priorities and leading the team in developing sales, service, and people strategies to drive sales results
- Act as a strong and disciplined sales leader – ensuring flawless and consistent execution of initiatives
- Build and maintain a diverse workforce that mirrors the communities in which we do business. Leverage strong human capital planning to ensure the right people are in the right roles through:
- consistent performance management
- staff development
- succession planning
- Recognize and reinforce team accomplishments by using existing organizational tools and programs as well as by finding new, creative and effective methods of recognition
- Develop, execute, and continuously monitor against a 1-3 year plan for your market including:
- Human capital planning
- Review progress to plan, oversee implementation of actions necessary to correct issues in customer experience, sales performance, productivity or risk areas
Maximizing Growth and Profitability
- Focus Financial Planners on the importance of portfolio management/growth
- Identify performance enhancement opportunities to significantly improve employee productivity, reduce costs and manage risk
- Identify and share best practices with HQ and across network of Divisional leaders.
Coaching and Assessment
- Identify gaps in Financial Planner productivity via analysis of results and regular side by sides and coaching sessions
- Champion and coach team to sales-focused behaviours that are supportive of BMO’s long term success
- Provide differentiated coaching and development activities to Financial Planners based on performance
Risk and Compliance
- Acts as First Line of Defence in the Enterprise Risk Management 3 Lines of Defence Model by ensuring accurate data entry of all lending applications and only recommending for approval suitable business opportunities
- Establish an environment which promotes sound risk management practices in accordance with Policies and Procedures and in alignment with First Line of Defence risk accountabilities
- Manage risk and minimize losses through audit, monitoring and control reports and functions.
- Ensure compliance requirements, audits and verifications are completed in accordance with Bank Policies & Procedures and regulatory, legal and ethical requirements
- Ensure the effective planning and control of unit operating expenses. Ensure spending is maintained within budget
- Perform administrative activities related to operations management
- Follow-up on recruiting / staff related activities .
Passion for leadership and several years of successful leadership experience.
- Proven sales success in the financial services industry.
- Experience with investment and retirement planning.
- Demonstrated ability to build, maintain and refer internal and external relationships.
Education and Accreditation
- Bachelor’s degree required. Post-graduate studies preferred.
- Canadian Securities Course (CSC).
- Must be registered to sell Mutual Funds (MFDA/AMF).
- Certified Financial Planner (CFP) designation.
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