Associate, Client Onboarding

Mandate:

The Client Onboarding (COB) function serves as a centralized hub, working in close collaboration with clients and various internal and external teams across Capital Markets. Its primary purpose is to streamline the capture of onboarding requirements to enable seamless service delivery, product provisioning, and revenue generation. By utilizing a centralized onboarding model and partnering with key support functions—such as KYC, Legal, Credit, Central New Accounts, Operations, and the front office—COB is committed to delivering the highest standard of service to clients and enhancing the overall client experience.

As a member of the Client Onboarding team supporting the Global Markets line of business, the Associate will be responsible for:

1) Delivering Exceptional Service: Ensuring outstanding service levels for internal sales teams and external clients while maintaining robust risk management practices. The Associate will oversee the end-to-end onboarding process, including coordination with groups beyond their direct supervision.

2) Building Strong Relationships: Establishing and maintaining productive working relationships with key stakeholders to foster collaboration and effective communication.

3) Driving Continuous Improvement: Partnering with Operational Excellence and other teams to identify opportunities for improvement and enhance the function’s efficiency and service delivery.

Standardized processes are critical to providing consistent, timely, and high-quality service to the client base. BMO is committed to adhering to regulatory requirements mandated by governing agencies across all geographic locations in which it operates.

Key Accountabilities:

Execution

• Ensure all new client onboarding requests from the supported Lines of Business are executed promptly and accurately, delivering a "white glove" client service experience.
• Oversee and refine COB-owned and broader Capital Markets client onboarding processes, ensuring they are well-defined and effectively coordinated. Collaborate with other units to implement appropriate controls and drive continuous improvements in the end-to-end client onboarding process.
• Strive to achieve minimal operational defects or gaps, targeting no material defects and only infrequent minor issues in operations, documentation, or the onboarding workflow.
• Manage escalations effectively by investigating and resolving issues promptly, while keeping senior management informed and escalating further when necessary.
• Maintain strict client privacy and confidentiality throughout the entire onboarding and operational process.

Strategy and Change Management

• Represent the Client Enablement function by leading or participating in meetings with Lines of Business (LOB), desk heads, and other key areas of the firm, including audit, second-line functions, senior management, operations, and risk.
• Regularly review and monitor service performance to identify gaps, issues, and best practices. Develop and implement actionable plans to address gaps, resolve issues, and improve efficiency (e.g., team notifications, procedural updates, remediation projects).
• Stay informed of onboarding and regulatory practices at other banks in the region, as well as emerging regulatory trends related to onboarding and operations. Ensure compliance with the latest onboarding-related regulations, such as CIRO, FINRA, Dodd-Frank, SEC Security-Based Swaps, FATCA/CRS, Canadian Trade Reporting, and National Instrument 93-101. Escalate risks to management as needed.
• Collaborate with second-line teams and other stakeholders to transition toward a globally integrated onboarding model.
• Serve as a representative on key projects and oversee COB staff participation in project-related activities.
• Support the implementation of technology solutions to streamline and enhance the end-to-end onboarding process.
• Prepare and deliver management reporting as required, providing insights and updates to senior leadership.

Other tasks as assigned

Authorities:

• Provide guidance and problem-solve issues and challenges referred by other areas and clients.
• Prioritize work in accordance with procedure and LOB ranking to maximize financial benefit and minimize customer negative impacts.
• Act as SME for area of expertise. Provide advice in the completion of processes and recommend business performance improvements.
• Ensure receipt of appropriate approvals/ authorizations in accordance with P&Ps and regulatory requirements.
• Manage and monitor a complex portfolio of work representing a significant amount of revenue generation.
• Monitor compliance requirements. Ensure adherence to directives, policies & procedures and regulatory/ government requirements.
• Approves procedures, interpretations of policy/guidance, and policy/procedures

Scope & Impact:

This role has direct or indirect impact on the following areas:

• Customer Confidence and Satisfaction: Ensures a seamless and accurate client onboarding experience, contributing to a positive client journey.
• Customer Retention: Supports customer retention by efficiently managing requests to add additional products, ensuring a swift and effective process.
• Bank Financial Performance: Accelerates the client acquisition process, enabling the Sales Organization to realize client revenue as quickly as possible.
• Risk Mitigation: Reduces reputational and financial risks, such as fraud, money laundering, or financial penalties, by ensuring strict adherence to the Bank’s policies, procedures, and regulatory requirements.
• Regulatory Relationships: Maintains strong relationships with regulators in Canada, the USA, the U.K., and other jurisdictions as applicable, particularly as expansion plans are executed.
• Compliance and Sanctions: Ensures adherence to AML regulations to avoid regulatory, reputational, and monetary sanctions. Non-compliance poses significant risks, including personal liability for employees, institutional liability, potential loss of business, increased regulatory scrutiny, and diminished shareholder value.

Cross Functional Relationships:

• Sales Organizations in Capital Markets (Trading Products and I&CB) and P&C
• Capital Markets Business Services: AML groups, Client Data Management
• WBPO Operations: Middle and Back Office teams
• Corporate Support: Compliance, Legal, Technology, Risk, Enterprise AML

Knowledge & Skills:

Knowledge

• An undergraduate degree in Finance, Economics, International Business, Operations, Business, Law, or Technology (Master’s degree, CFA, or CPA designation is considered an asset).
• Minimum of 2+ years of relevant experience in a Capital Markets support role.
• In-depth knowledge of trading products across Global Markets, as well as Investment and Corporate Banking products.
• Familiarity with the competitive landscape, industry trends, and regulatory environment.
• Solid understanding of AML (Anti-Money Laundering) risk, trends, legislation, ML detection methodologies, regulatory expectations, risk management frameworks, and operational risk principles.
• Working knowledge of key regulations, including CIRO, FINRA, FATCA/CRS, Dodd-Frank, SEC Security-Based Swaps, Canadian Trade Reporting, and NI 93-101.

Skills

• Demonstrated ability to conceptualize business and stakeholder initiatives and translate them into actionable daily business requirements.
• Strong relationship management and interpersonal skills, with the ability to strategically and ethically leverage relationships in a high-pressure environment.
• Exceptional multitasking skills, with the ability to manage competing priorities and proactively support multiple internal clients in a fast-paced setting.
• Self-motivated, with the ability to work independently under minimal supervision and handle demanding schedules.
• Excellent attention to detail, with the capacity to learn and adapt quickly to new challenges.
• Proficient in reviewing, analyzing, and delivering detailed information on a daily basis.
• Proven ability to collaborate effectively and build strong relationships with stakeholders across all organizational levels.
• Outstanding verbal and written communication skills.
• Strong account management capabilities to establish, maintain, and enhance customer relationships.
• Excellent conflict management and resolution skills.
• Superior organizational and prioritization abilities.
• Proficient in Microsoft Office Suite (Excel, Word, PowerPoint, Outlook) and other standard business applications.

Working Conditions:

This role operates in a high stress regulatory environment, with constantly changing expectations and close regulatory and audit scrutiny. The role requires the ability to interact on a cross functional basis with other groups and with clients while operating independently. The role may be expected to work long hours.

The salary range for this role is $80,000 up to $90,000 CAD (subject to the candidate meeting the specific skills, experience, education, and qualification requirements)