Merrill Market Supervision Manager

Bank of America; Minneapolis (MN); On-site; USD 115,000 - 160,000; Full time

Job summary

Bank of America in Minneapolis, MN, is seeking a Market Supervision Manager to support the Market Executives in managing delegated compliance and business functions. The role requires monitoring advisor activities and ensuring regulatory and enterprise risk oversight while collaborating with the Market Leadership Team.

The position emphasizes coaching Financial Advisors and other market personnel to align client solutions with firm policies, driving responsible growth and mitigating risk within

Qualifications

• Bachelor's degree or equivalent work experience required.
• Market Supervision Manager experience or completion of Merrill's Office Management Team Associate Development Program preferred.
• Licensing requirements: SIE, Series 7, Series 66 (or Series 63 and 65), Series 9 and 10 (or Series 8) meet regulatory needs.

Responsibilities

• Supports Market Executives in managing delegated compliance, administrative and business functions.
• Monitors advisor and client activity to ensure regulatory compliance and minimize risk.
• Coaches Financial Advisors and other market personnel to adhere to policies and procedures and manage risk.

Skills

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

Education

Bachelor's degree or equivalent work experience

Job description

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.

Job Description:

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.

What you’ll accomplish:

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.

Responsibilities:

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

Required Qualifications:

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 Key Qualifications for the role: 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

Desired Qualifications:

Bachelor's degree or equivalent work experience Market Supervision Manager experience, or completion of Merrill's Office Management Team Associate Development Program

Skills:

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

The following laws or regulations restrict or prohibit the hiring of individuals with certain specified criminal history for the position:

FDIC; FINRA. Internal employees who are currently working from home are still eligible to apply. However, if selected for the role, you may be required to work onsite in accordance with the workplace excellence policy

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

US - MN - Minneapolis - 80 S 8TH ST - IDS CENTER (MN1150)

Pay and benefits information

Pay range $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 eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

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.

Privacy Statement:

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 their 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. Join us! 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 the four values that represent what we believe. Pay Transparency: https://careers.bankofamerica.com/en-us/pay-transparency