Manager, Whole Loan Trading Operations

BMO U.S.; New York (NY); On-site; USD 112,000 - 209,000; Full time

Benefits offered by this job

Health insurance

Tuition reimbursement

Accident and life insurance

Retirement savings plan

Job summary

BMO Financial Group in New York, NY is seeking a Manager, Whole Loan Trading Operations to lead and scale the operational support function for the firm’s whole loan trading platform. This role oversees end-to-end trade lifecycle processes, builds a high-performing team, and partners with Front Office, Finance, Risk, Technology, and external vendors to support growth.

The candidate will establish the operating model, implement robust controls, and drive automation initiatives to improve

Qualifications

• Bachelor’s degree in Finance, Accounting, Business, or related field.
• 7+ years of experience in operations, middle office, asset servicing, loan operations, or securitized products support.
• Demonstrated experience managing teams and leading operational functions.
• Strong understanding of trade lifecycle processes, settlement, servicing, and cash flow management.
• Proven ability to design and implement operational processes, controls, and governance frameworks.

Responsibilities

• Recruit, develop, and lead a team of operations professionals supporting whole loan trading.
• Define team structure, roles, and coverage model aligned to business needs.
• Establish performance expectations, training programs, and development plans.
• Foster a strong control culture and continuous improvement mindset.
• Design and implement the end-to-end operating framework for whole loan trading.
• Develop standard operating procedures, workflows, and escalation protocols.
• Partner with Technology to define system requirements, data models, and automation initiatives.
• Support onboarding of new products, strategies, and business initiatives.
• Oversee trade capture validation and settlement processes to ensure accuracy and timeliness.
• Coordinate with counterparties, custodians, servicers, and internal stakeholders to facilitate settlements.
• Monitor funding flows and ensure proper cash movement tracking.
• Ensure accurate boarding of loans into internal systems and third-party servicer platforms.
• Implement controls to maintain data integrity across loan attributes and booking systems.
• Oversee reconciliation of loan balances between internal systems and servicers.
• Oversee reconciliation of principal, interest, and fee cash flows received from servicers.
• Monitor remittance activity and resolve discrepancies with third-party servicers.
• Manage ongoing servicer relationships, including performance monitoring and issue escalation.
• Oversee operational support for loan lifecycle events including payoffs, modifications, delinquencies, and defaults.
• Ensure accurate processing and downstream impact across systems and reporting.
• Partner with Finance and Product Control to support P&L reporting and month-end close.
• Oversee reconciliation of cash vs. accrual balances and valuation support processes.
• Support reserve, impairment, and balance sheet substantiation requirements.
• Develop management reporting on portfolio performance, holdings, and delinquency metrics.
• Support regulatory reporting requirements and audit engagements.
• Maintain and enhance documentation, controls, and governance frameworks.
• Identify operational inefficiencies and control gaps; implement remediation strategies.
• Define reconciliation frameworks and exception management processes.
• Drive automation initiatives to reduce manual processes and improve scalability.
• Serve as the primary operations liaison to Trading, Finance, Risk, Legal, and Technology.
• Coordinate with external servicers and custodians to ensure seamless operational support.

Skills

Leadership & team management

Trade lifecycle knowledge

Control & risk mindset

Process design

Cross-functional collaboration

Education

Bachelor’s degree in Finance, Accounting, Business, or related field

Tools

SBO

SITUS AMC

Job description

Job Summary

The Manager, Whole Loan Trading Operations is responsible for leading, building, and scaling the operational support function for the firm’s whole loan trading platform. This role provides end-to-end oversight of trade lifecycle processes, ensures a robust control environment, and partners with Front Office, Finance, Risk, Technology, and external vendors to support a complex and evolving asset class. The successful candidate will play a critical role in establishing the operating model, building a high-performing team, and implementing scalable processes and controls to support business growth.

Key Responsibilities

Leadership & Team Management

• Recruit, develop, and lead a team of operations professionals supporting whole loan trading
• Define team structure, roles, and coverage model aligned to business needs
• Establish performance expectations, training programs, and development plans
• Foster a strong control culture and continuous improvement mindset

Operating Model & Platform Buildout

• Design and implement the end-to-end operating framework for whole loan trading
• Develop standard operating procedures, workflows, and escalation protocols
• Partner with Technology to define system requirements, data models, and automation initiatives
• Support onboarding of new products, strategies, and business initiatives

Trade Execution & Settlement Oversight

• Oversee trade capture validation and settlement processes to ensure accuracy and timeliness
• Coordinate with counterparties, custodians, servicers, and internal stakeholders to facilitate settlements
• Monitor funding flows and ensure proper cash movement tracking

Loan Boarding & Data Management

• Ensure accurate boarding of loans into internal systems and third-party servicer platforms
• Implement controls to maintain data integrity across loan attributes and booking systems
• Oversee reconciliation of loan balances between internal systems and servicers

Cash Flow & Servicer Oversight

• Oversee reconciliation of principal, interest, and fee cash flows received from servicers
• Monitor remittance activity and resolve discrepancies with third-party servicers
• Manage ongoing servicer relationships, including performance monitoring and issue escalation

Lifecycle Event Management

• Oversee operational support for loan lifecycle events including payoffs, modifications, delinquencies, and defaults
• Ensure accurate processing and downstream impact across systems and reporting

Accounting & Financial Controls

• Partner with Finance and Product Control to support P&L reporting and month-end close
• Oversee reconciliation of cash vs. accrual balances and valuation support processes
• Support reserve, impairment, and balance sheet substantiation requirements

Reporting, Controls & Governance

• Develop management reporting on portfolio performance, holdings, and delinquency metrics
• Support regulatory reporting requirements and audit engagements
• Maintain and enhance documentation, controls, and governance frameworks

Process Improvement & Automation

• Identify operational inefficiencies and control gaps; implement remediation strategies
• Define reconciliation frameworks and exception management processes
• Drive automation initiatives to reduce manual processes and improve scalability

Cross-Functional Partnership

• Serve as the primary operations liaison to Trading, Finance, Risk, Legal, and Technology
• Coordinate with external servicers and custodians to ensure seamless operational support

Qualifications

Required

• Bachelor’s degree in Finance, Accounting, Business, or related field
• 7+ years of experience in operations, middle office, asset servicing, loan operations, or securitized products support
• Demonstrated experience managing teams and leading operational functions
• Strong understanding of trade lifecycle processes, settlement, servicing, and cash flow management
• Proven ability to design and implement operational processes, controls, and governance frameworks

Preferred

• Experience supporting whole loans, mortgage loans, structured products, or securitized products
• Experience building or scaling a new operational function or platform
• Knowledge of loan servicing models and third-party servicer oversight
• Familiarity with regulatory reporting, audits, and operational risk management
• Experience partnering with Technology on system enhancements, workflow redesign, and automation initiatives
• Experience with SBO
• Experience with SITUS AMC an asset

Key Competencies

• Leadership and team development
• Strong control and risk management mindset
• Process design and continuous improvement
• Strategic thinking and operating model development
• Problem-solving and decision-making in complex environments
• Effective stakeholder communication and collaboration
• Ability to lead through ambiguity and support a growing business platform

Salary

$112,200.00 - $209,000.00

Pay Type

Salaried

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/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to [e-mail] and let us know the nature of your request and your contact information.