The Account Specialist is responsible for opening and closing BMO Private Bank Trust, Investment Management, Individual Retirement, and Custody accounts in adherence with BMO Private Bank governance requirements, including USA Patriot Act and Anti-Money Laundering policies. The Specialist will work closely with the AMLRO Operations Unit, tax professionals, BMO Harris Bank Domestic Trust Operations and SEI Trust Company to direct security transfers and ensure our service standards are met with respect to the funding and distribution of account assets. In addition, the Account Specialist will interact with our client facing professionals (e.g., Private Wealth Advisors, Trust Administrators, and Portfolio Managers) and other financial institutions to keep them informed of the account status and to quickly resolve any deficiencies that could delay the opening or closing of accounts or asset transition.

• • Address client documentation discrepancies/issues with Private Wealth Advisors, Trust Administrators, Portfolio Managers, Domestic Trust Operations and/or SEI to ensure that issues are quickly and adequately resolved
  • Open and close Trust, Investment Management, Individual Retirement, and Custody accounts on the appropriate systems and in adherence with BMO Private Bank governance requirements, including USA Patriot Act and Anti-Money Laundering policies; includes but not limited to the following:
  • Follow appropriate procedures for the assigned account type to meet required service level standards and escalate any issues accordingly
  • Maintain accurate records of account opening and closing activities and communicate effectively with partners across the organization
  • Monitor the status of accounts and advise the Private Wealth Advisor, Trust Administrator, or Portfolio Manager as required so they can manage client expectations
  • Ensure transfer paperwork is in good order and work with DTO to monitor funding of assets into new accounts to make sure the assets and tax cost are all accounted for, monitor dividends and final income and ensure accounts that are closing have a zero balance and assets/cash is distributed in a timely manner

  Communicate with clients and other financial institutions as required to manage expectations and support the overall service standards

  • Prepare account opening and closing documents for imaging to ensure that all required documentation is imaged in accordance with the guidelines e.g., all employees have access to the client documentation as needed to manage the relationship and provide service to clients)
  • Provide back up support as required to ensure we do not encounter any transfer delays
  • Support various projects, as needed, to achieve the business objectives for Account Transition & Support

  When necessary, participate in other key projects to support BMO Private Bank

  Broader work or accountabilities may be assigned as needed.

  Qualifications:

• Typically between 4 - 6 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 preferred.
• Strong knowledge of Personal Trust Administration processes and procedures
• Broad knowledge of Trust Tax, Trust Accounting and Investment Management
• Broad knowledge of fiduciary laws including estate planning techniques, relevant tax regulations.
• Technical proficiency gained through education and/or business experience.
• Verbal & written communication skills - In-depth.
• Collaboration & team skills - In-depth.
• Analytical and problem solving skills - In-depth.
• Influence skills - In-depth.
• Data driven decision making - In-depth.

We’re here to help

At BMO Harris Bank 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 Harris Bank 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.bmoharris.com

BMO Harris Bank 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. BMO Harris Bank N.A. is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. 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 Harris Bank does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO Harris Bank, directly or indirectly, will be considered BMO Harris Bank property. BMO Harris Bank 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.