Associate, Correspondent Banking Network Management

Associate, Correspondent Banking Network Management Join to apply for the Associate, Correspondent Banking Network Management role at BMO. The Associate, Correspondent Banking Network Management is responsible for providing exceptional, proactive day-to-day operational service support, acting as a service representative for BMO’s Correspondent Banking relationships – Nostro clients. The role supports the Bank’s strategy for growing partnerships with key Correspondent Banking relationships and works closely with the Director, Network Management to assess clearing providers and leverage the business BMO awards to its payment providers. Through assessment we ensure BMO receives top quality services at a competitive price along with other key terms and conditions required by our internal stakeholders. Knowledge and Skills University Degree, at least 5-7 years of relevant experience in Correspondent Banking or Wholesale Banking. Strong relationships with internal and external business partners. Strong knowledge of the bank’s key products and services used by internal stakeholders who require Nostro Treasury Management services, including equities, fixed income & custody. Experienced SWIFT Payment expert with strong knowledge of Global Payment Industry. Client focused ability to consult with BMO Business Partners on service preference and requirements. Strong customer service skills & problem resolution. Excellent written and oral communication skills. Good analytical, prioritization and organizational skills. Proficiency in MS Excel, MS Word, MS Access, MS PowerPoint, Payment Systems- WRAP, PODR, SWIFT Watch, PSH, I-Match and SEMS. Good interpersonal / network skills. Self-confident with the ability to advocate persuasively. Strong capability to work independently, proactive, and positive attitude. Analyze and solve complex problems, multi-task, and manage tight timelines. Key Accountabilities Client and Relationship Management 60%. Risk Management and Control __ 20%. Change and Innovation 20%. Product Development and Delivery Delivers excellent customer service and possess knowledge of the bank’s key products and services used by stakeholders requiring Nostro services, i.e. Terms & Conditions. Acts as the day-to-day contact for Network Management related questions such as product information, Nostro implementation timeframes and requirements. Assesses purchasing decisions in conjunction with the Director Network Management and key internal stakeholders, including GFIG relationship management, TPS product management, and Wholesale Banking Product Operations. Periodically performs reviews of existing correspondent service arrangements to benchmark terms and conditions against current market conditions. Participates in projects as required by Stakeholders or other LOBs in relation to purchase of Nostro services. Engages/liaises with legal counsel when changes to existing/new official documentation is required. Identifies issues, gaps, and process improvements through open communication both internally and with other LOBs, stakeholders, and by monitoring productivity against benchmarks. Maintains awareness of all firm products and services required by LOBs using Nostro facilities, e.g. online access to the Nostro account, as necessary. Performs ad-hoc requests for MIS using a variety of in-house systems. Client and Relationship Management (Continued) Ensures delivery of exemplary service by troubleshooting and resolving issues on behalf of the Bank, acting as an advocate in a professional, ethical, and conscientious manner. Actively supports other partners as needed. Risk Management and Control (Continued) Ensures that bank policies and guidelines applicable to Capital Markets are complied with, particularly AML policies relevant to correspondent banking and supplier engagement. Ensures systems, reporting, and other controls are robust to meet applicable policies and mitigate risk. Ensures all risk management records and compliance reports (including Nostro selection criteria) are current, accurate, and relevant. Change and Innovation (Continued) Identifies opportunities for increased efficiency and improved service to internal clients, implementing positive changes within the business unit. Stays abreast of industry updates, assesses new requirements and impacts to BMO, advises internal LOBs, and applies changes as necessary. Captures service issues and provides input for Relationship Managers, Operations, and implementation of potential process improvements. Cross-Functional Relationships Advising: Provide unsolicited advice to Credit, Legal, Wholesale Banking Product Operations and other lines of business. Auditing: Be informed of subordinates’ activities and stop activities if not aligned with agreed plans. Coordinating: Call a meeting of the business unit and other bank areas to resolve limited issues. Monitoring: Receive updates on other bank areas that impact responsibilities. Service Getting: Receive service from other bank areas as agreed. Working Conditions Work is in a normal office environment. Occasional travel may be required. Salary $56,000.00 - $103,500.00 (Salaried) The above represents BMO Financial Group’s pay range and type. Salaries will vary based on location, skills, experience, education, and qualifications. They may include a commission structure. For commission roles, the salary represents BMO Financial Group’s expected target for the first year. BMO Financial Group’s total compensation package may include performance-based incentives, discretionary bonuses, and other perks. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. Benefits details at About BMO At BMO, we are driven by a shared Purpose: Boldly Grow the Good in business and life. We create lasting, positive change for our customers, communities and people. We support your growth from day one with training, coaching, manager support, and networking opportunities. BMO is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates parts of the selection process. Please contact your recruiter for accommodation requests. #J-18808-Ljbffr