Merrill Market Client Relationship Manager

Bank of America; Huntington Station (NY); On-site; USD 80,000 - 140,000; Full time

Job summary

An established industry player is seeking a Market Client Relationship Manager to lead the service delivery model and wealth management strategy. This role involves collaborating with market leadership and managing a team to enhance client service while ensuring compliance and risk management. The ideal candidate will possess strong management skills, a client-centric approach, and a deep understanding of regulatory requirements. Join a dynamic team focused on delivering exceptional service and driving responsible growth in a fast-paced environment. If you are passionate about client relationships and operational excellence, this is the opportunity for you.

Qualifications

• 5+ years of professional experience in wealth management.
• Expert knowledge of regulatory and supervisory requirements.

Responsibilities

• Lead service delivery model and wealth management banking strategy.
• Supervise financial transactions and operations for compliance.
• Manage Wealth Management Client Associates and support staff.

Skills

Compensation Analysis

Performance Management

Process Performance Management

Referral Management

Workforce Planning

Due Diligence

Internal Audit Review

Leadership Development

Recruiting

Risk Management

Client Management

Customer Service Management

Employee Counseling

Succession Planning

Trade Operations Management

Education

Bachelor’s degree or equivalent work experience

Job description

Merrill Market Client Relationship Manager

Melville, New York

Job Description:

This job is responsible for leading the overall service delivery model to include the bank's digital offerings and wealth management banking strategy in the market while working with the Home Office to ensure superior client service. Key responsibilities include partnering with the market leadership team, Market Executives, Resident Directors, Financial Advisors, Wealth Management Client Associates, and Wealth Management Associates to facilitate daily business needs. Job expectations include driving responsible growth while minimizing regulatory, financial, operational, and reputational risks.

The Market Client Relationship Manager (MCRM) is a direct report to the Division Client Relationship Executive (DCRE) with dual reporting to the Merrill Wealth Management Market Executive (ME). The MCRM functions as a member of the market leadership team and manages the Wealth Management Client Associates, Operations support staff, and the branch's Operations Department. The MCRM is responsible for delivering firm strategy through the execution of the Market Strategy Plans. MCRMs partner closely with advisor teams to deliver a branded client service model focusing on digital solutions and enterprise capabilities. Additionally, the MCRM serves as the Lead and Referral Coordinator for the market and manages the market expenses. The MCRM partners closely with the Senior Client Relationship Manager (SCRM) to support the ongoing development of the Elite Growth Practice roles, Wealth Management Client Associates, and the Operations staff.

Responsibilities:

1. Leads the service delivery model and wealth management banking strategy of respective markets to drive business growth.
2. Hires, develops, and leads a team of cross-functional professionals to support Financial Advisor teams and deliver outstanding client service.
3. Supervises financial transactions and operations to drive risk management best practices and ensure compliance with policies and procedures, while preparing to effectively manage any type of branch audit.
4. Oversees the client service experience and reviews the approval of new client accounts.
5. Leads Wealth Management Client Associates and the branch Operations Department to meet and exceed the bank's client service expectations and operational excellence goals.

Managerial Responsibilities:

This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

1. Diversity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I goals.
2. Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
3. Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
4. Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
5. People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
6. Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
7. Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
8. Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.

Specific responsibilities include, but are not limited to:

1. Ensuring client service expectations are met and exceeded while balancing the risk and exposure for Merrill.
2. Managing the branch's Wealth Management Client Associates and Service Support Staff.
3. Representing the office and Merrill with clients, prospects, Financial Advisor recruits, vendors, regulators, and outside legal counsel.
4. Requires diversification and experience with Bank of America and Merrill Products & Services, Trend Analysis, Risk Assessment, Human Resources, and broad industry knowledge.
5. Coaching teams to deliver a modern, digital first service model focusing on client satisfaction.
6. Proactively identifying opportunities to connect Financial Advisors and clients to the broader enterprise.
7. Managing the daily operations ensuring compliance to industry regulations, and policies and procedures.

Required Qualifications:

1. Currently hold SIE, Series 7 AND Series 66 (or Series 63 AND Series 65), Series 9 AND Series 10 (or Series 8) or equivalent licenses and Series 3, 31 licenses, if warranted.
2. Minimum of 5+ years professional experience.

Key Qualifications for the role:

1. Current or previous Merrill Wealth Management experience strongly preferred.
2. Self-motivated and client centric.
3. Expert knowledge of regulatory and supervisory requirements and corporate policies and procedures.
4. Investment product knowledge (i.e., 401K, Options, Annuities, Tax, Retirement Plans, Money Funds, Mutual Funds, Liabilities, Margin, Trust Operations, etc.).
5. Prior trend analysis experience.
6. Strong customer service and communication skills.
7. Strong management skills, including the ability to effectively plan, monitor, influence, negotiate, supervise and delegate.

Desired Qualifications:

1. Bachelor’s degree or equivalent work experience.

Skills:

1. Compensation Analysis
2. Performance Management
3. Process Performance Management
4. Referral Management
5. Workforce Planning
6. Due Diligence
7. Internal Audit Review
8. Leadership Development
9. Recruiting
10. Risk Management
11. Client Management
12. Customer Service Management
13. Employee Counseling
14. Succession Planning
15. Trade Operations Management

Shift:

1st shift (United States of America)

Hours Per Week:

40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws.