Merrill Market Supervision Manager
Bank of America
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Benefits offered by this job
Job summary
Merrill Wealth Management, a leading wealth management unit of Bank of America, seeks a Market Supervision Manager to support executives and supervise advisor activities in the White Plains area. The role emphasizes risk mitigation, regulatory compliance, and ongoing advisor coaching to align client goals with firm standards.
The position requires active licensing, a track record of 5+ years, and collaboration with market teams.
Qualifications
- Licensed: SIE, Series 7 and Series 66 (or Series 63 and 65), Series 9 and Series 10 (or Series 8) or equivalent.
- Series 3, 31 licenses, if warranted.
- Minimum of 5+ years professional experience.
- Proven ability to manage risk, regulatory understanding and financial services knowledge.
Responsibilities
- Performs, monitors, and demonstrates adherence to internal and external standards, policies, laws, rules, and regulations related to client advice and recommendations.
- Manages day-to-day Financial Advisor business needs, ensuring adherence to bank policies and procedures.
- Coaches FAs, Client Associates, and market personnel to drive policy adherence and risk mitigation.
- Partners with FAs, CAs, and market personnel to manage risk of growth initiatives and ensure alignment with enterprise risk appetite.
Skills
Education
Job description
Merrill Wealth Management is a leading provider of comprehensive wealth management and investment products and services for individuals, companies, and institutions. Merrill Wealth Management is one of the largest businesses of its kind in the world specializing in goals-based wealth management, including planning for retirement, education, legacy, and other life goals through investment advice and guidance. Merrill’s Financial Advisors and Wealth Management Client Associates help clients pursue the life they envision through a personal relationship with their advisory team committed to their needs. We believe trust comes from transparency. Our trusted advisory teams are equipped with access to the investment insights of Merrill coupled with the banking convenience of Bank of America. Merrill is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Merrill, we empower you to bring your whole self to work. We value diversity in our thoughts, business, and within our employees and clients. Our Wealth Management team represents an array of different backgrounds and bring their unique perspectives, ideas and experiences, helping to create a work community that is culture driven, resilient, results focused and effective.
This job is responsible for a wide variety of delegated compliance, administrative, and business functions to support the Merrill Wealth Management Market Executives (MEs) overall managerial and supervisory responsibilities. Key responsibilities include supporting business objectives and contributing to market profitability by influencing Financial Advisor business practices to minimize regulatory, financial, and reputational risks. Job expectations include working independently or with minimal guidance, while keeping the ME and Division Supervision Executive informed on significant matters. The Market Supervision Manager (MSM) is a member of the Market Leadership Team, along with the Market Client Relationship Manager (CRM). The Market Supervision Manager (MSM) supports the Firm's business objectives and contributes to the Market's profitability by influencing Financial Advisors (FA) business practices in ways that minimize regulatory and financial risk as well as uphold the Firms' reputation. Additionally, they ensure Financial Advisors are properly licensed; respond to regulatory inquiries and resolve client concerns or complaints. Ultimately, the MSM protects the Firm, grows the business, and serves the client by proactively managing and mitigating risk.
Manage delegated compliance, administrative and business functions related to the Merrill Wealth Management Market Executive’s overall managerial responsibilities for parent and associate offices. This individual functions independently, or with minimal guidance, but must keep the Market Executive informed on significant matters and must determine when the Market Executive should be directly involved. Monitor advisor and client activity including financial transactions to ensure compliance with firm and regulatory requirements and minimize risk. Coach advisors in supporting the company strategy and continuing to grow their businesses.
- Performs, monitors, and demonstrates adherence to internal and external standards, policies, laws, rules, and regulations related to client advice and recommendations, sales practice activities, and conduct of market personnel.
- Manages day-to-day Financial Advisor (FA) business needs, while ensuring adherence to the bank's compliance policies and procedures.
- Coaches FAs, Client Associates (CAs), and other market personnel to drive adherence of policies and procedures related to the sales practice conduct.
- Partners with FAs, CAs, and other market personnel to manage risk of business growth initiatives, ensuring alignment with the bank's enterprise risk appetite.
- 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.
- Series 3, 31 licenses, if warranted.
- Minimum of 5+ years professional experience.
- Proven ability to manage risk, make sound decisions by having a deep understanding of industry regulations, supervisory requirements, policies/procedures, wealth management concepts, and financial services products.
- Ability to speak in terms of client needs and concerns, and coach Financial Advisors on aligning solutions to goals in a suitable and controlled way.
- A deep appreciation and understanding of our client centric strategy.
- Strong interpersonal skills to provide coaching to Financial Advisors to mitigate risk through segmentation, disciplined investment practices, and documentation.
- Strong analytical skills with ability to identify trends, root cause and effects, and implement improved processes to mitigate risk.
- Demonstrated strong and effective leadership style through clear communication and collaboration with others, making sound decisions with courage and conviction.
- Strong time management and organization skills with the ability to prioritize appropriately.
- Bachelor's degree or equivalent work experience.
- Market Supervision Manager experience, or completion of Merrill's Office Management Team Associate Development Program.
- Decision Making
- Influence
- Negotiation
- Problem Solving
- Risk Management
- Adaptability
- Business Acumen
- Collaboration
- Oral Communications
- Relationship Building
- Business Operations Management
- Client Solutions Advisory Planning
- Talent Development
- Written Communications
1st shift (United States of America)
40
US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100), US - NY - White Plains - 360 HAMILTON AVE (NY3360)
$115,000.00 - $160,000.00 annualized salary, offers to be determined based on experience, education and skill set. Discretionary incentive eligible
This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
https://careers.bankofamerica.com/en-us/privacy-notice
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and our families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization. Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference.
Partnering Locally Learn about some of the ways Bank of America is making a difference in the communities we serve. Global Impact Learn about the six areas that guide Bank of America’s efforts to help make financial lives better for customers, clients, communities and our teammates. Opportunity and Inclusion Each employee brings unique skills, background and opinions. We see opportunity and inclusion as our platform for innovation and a key component in our success. Our Values Learn about our four values that represent what we believe. Pay Transparency: https://careers.bankofamerica.com/en-us/pay-transparency
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