Merrill Private Wealth Client Relationship Manager

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

Benefits offered by this job

Benefits

Incentive plan

Job summary

Bank of America, through Merrill Wealth Management, is seeking a Private Wealth Management operations leader to oversee client service delivery, transition management, and coordination with home office services to ensure superior service. Responsibilities include managing branch office staff, reviewing new accounts, resolving complaints, and driving process improvements while aligning with compliance.

This role requires Series licenses, at least five years' experience, and a commitment to

Qualifications

• Currently hold Series 7 and 66 (or Series 63 and 65), Series 9 and 10 (or Series 8) or equivalent licenses Series 3, 31 licenses, if warranted
• Minimum of five years of professional experience

Responsibilities

• Oversee client service delivery and transition management for Private Wealth Management.
• Manage branch office support staff and coordinate with home office service organizations.
• Respond to and resolve client complaints, ensuring compliance with regulatory requirements.
• Oversee recruitment transitions and reassign accounts in partnership with OMT.
• Identify, escalate, and reconcile compliance and risk matters in collaboration with Legal and CB-RU.

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

High School Diploma / GED / Secondary School or equivalent

Job description

Company Overview

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 that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Merrill, we empower you to bring your whole self to work. We value the unique perspectives in our thoughts, business, and within our employees and clients. Our Wealth Management team represents an array of different skills and experiences that individuals bring from all backgrounds and careers; whether gained through military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Job Overview

Responsible for overall delivery and management of the client service experience for the Private Wealth Management. Accountable for proactive client service, client advocacy, transition management, and problem resolution to improve the client experience. Responsible for client contact management, direct client contact and the management of service delivery from the branch office, working closely with home office service organizations to ensure superior service to all Merrill Lynch clients. Responsible for transition and coordination of clients to Merrill Lynch, including review supervision and approval of new accounts. Responsible for the coordination of recruits transitioning from the competition. Responds to and resolves complaints, working with Litigation or Compliance personnel, regarding operations/services received from clients or regulators. Responsible for utilizing PMAC to support the transition of FA accounts as well as opportunities to increase client assets. Responsible for the management and development of the branch office support staff including operations employees and the Client Associates, this includes but is not limited to conducting performance reviews with support staff and being responsible for resource allocation for the Market, managing head count report, etc. Serve as point of contact for implementation of the WMW in the Market, serve as the ongoing WMW conduit for all enhancements including communications and training. Responsible for knowledge and experience associated with Operations management expanding the ability to manage the daily processes of an organization, creating operating efficiencies, understanding/designing work flows, while simultaneously focusing on future initiative and their impact to both the unit and the Firm as a whole. Responds to and resolves operations and services complaints, working with Litigation or Compliance personnel, received from clients or regulators. Responsible for identification, follow up, escalation and reconciliation of compliance and other risk matters, and partnering with CBRU and Legal when appropriate. Responsible for facilitating the supplemental compensation contract process between the Financial Advisors and Client Associate on an on-going basis. In partnership with OMT, responsible for reassigning accounts. Ability to monitor, assess, execute and address client needs in an effort to ensure overall service satisfaction, retention and acquisition. Liaison to various service and operational partners to drive client satisfaction opportunities. 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.

Required Qualifications

• Currently hold Series 7 and 66 (or Series 63 and 65), Series 9 and 10 (or Series 8) or equivalent licenses Series 3, 31 licenses, if warranted
• Minimum of five years of professional experience

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

Minimum Education Requirement

High School Diploma / GED / Secondary School or equivalent 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 - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110)

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.

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.

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.

Our Values

Learn about our four values that represent what we believe.

Pay Transparency

https://careers.bankofamerica.com/en-us/pay-transparency