Merrill Market Supervision Manager

Bank of America

Stamford (CT)

On-site

USD 120,000 - 190,000

Full time

14 days+

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Job summary

Bank of America’s Merrill Wealth Management seeks a Market Supervision Manager to lead compliance, risk mitigation and supervisory duties for market executives and offices. You will influence FA practices to minimize regulatory and financial risk, ensure proper licensing, and respond to inquiries while protecting the firm’s reputation.

As part of the Market Leadership Team, you will collaborate with CRM and ME peers, monitor activity, and guide teams to align with enterprise risk appetite,

Qualifications

Current licenses: SIE, Series 7, Series 66 (or Series 63/65) and Series 9/10 (or Series 8) or equivalent
Series 3 and Series 31 licenses, if warranted
Minimum of 5+ years professional experience
Strong knowledge of industry regulations, supervisory requirements, risk management and wealth management concepts

Responsibilities

Performs and ensures adherence to standards, policies and regulations related to client advice and market personnel
Manages day-to-day FA business needs while ensuring compliance policies
Coaches FAs, Client Associates and market staff to drive policy adherence
Partners with FAs and staff to manage risk and growth initiatives

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

Market Supervision Manager experience or Merrill's Office Management Team Associate Development Program

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.

Job Description

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.

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

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