Merrill Private Wealth Supervision Manager

Socket.dev; Los Angeles (CA); On-site; USD 115,000 - 160,000; Full time

Benefits offered by this job

Competitive salary

Benefits package

Annual incentive plan

Job summary

Merrill Private Wealth Management seeks a Private Wealth Supervision Manager in Los Angeles (Century City). You will supervise Private Wealth Advisors, ensuring risk and regulatory compliance while supporting clients and branch offices.

This role partners with the Regional Managing Director and operates within the Office Management Team. The ideal candidate brings robust licenses, risk expertise, and a client-centric leadership style to minimize regulatory and financial risk while driving

Qualifications

• Must hold Series 7, 66, 9 and 10 licenses; Series 3/31 if warranted.
• Strong ability to manage risk with knowledge of industry regulations and policies.
• Ability to coach Private Wealth Advisors to align solutions with client goals.
• Client-centric focus and leadership in risk mitigation.

Responsibilities

• Supervise Private Wealth Advisors and support clients to manage risk.
• Ensure compliance with applicable laws, FINRA/FDIC rules.
• Partner with Regional MD to support branch offices.
• Coach advisors on risk-aware client solutions.

Skills

Series 7, 66, 9, 10 licenses

Series 3, 31 licenses

Risk management

Client coaching

Regulatory knowledge

Leadership

Time management

Merrill Lynch supervision experience

Education

High School Diploma / GED

Bachelor’s degree or equivalent

Job description

Job Description:

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 experienceMerrill 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.

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.

Job Description:

Merrill Private Wealth Division provides comprehensive wealth management services to affluent and high-net-worth clients, as well as retirement and benefit plan services, philanthropic solutions, and asset management services for both individuals and institutions. The role of the Private Wealth Supervision Manager is to supervise Private Wealth Advisors and support clients to ensure full compliance with applicable laws and policies, while maintaining a strong focus on the needs of ultra-high-net-worth families. These managers are client-centric leaders within the organization and serve as key partners to clients and Private Wealth Advisors in managing risk and ensuring it is appropriately addressed. The Private Wealth Supervision Manager is an integral member of the Office Management Team (OMT) and is responsible for a variety of supervision, compliance, and risk management functions. Many of these responsibilities focus on managing risk associated with client outcomes, partnering with the Regional Managing Director, and coaching advisors. These functions support the Regional Managing Director's overall responsibilities for branch offices and are delegated to the Private Wealth Supervision Manager. Operating with minimal guidance, the Private Wealth Supervision Manager monitors adherence to policies, serves as an independent voice on risk, supports the company's business objectives, and contributes to branch office profitability by influencing Financial Advisor business practices in ways that minimize regulatory, financial, and reputational risk. In addition, the Private Wealth Supervision Manager partners closely with Centralized Supervision. Together, the branch and centralized supervision teams are responsible for ensuring robust supervisory practices are maintained and that client needs and concerns are addressed in alignment with clients' goals and objectives.

Position Overview:

The Private Wealth Supervision Manager (PWSM) position reports to the Merrill Private Wealth Business Segment Supervision Executive (BSSE), with dual reporting to the Merrill Private Wealth Management Regional Managing Director (RMD).

The PWSM’s functions as a member of the market leadership team, responsible for a wide variety of delegated compliance, administrative and business functions related to the MPWM RMD's overall managerial responsibilities for parent and associate offices. He or she functions independently, or with minimal guidance, but must keep the PWM RMD informed on significant matters and must determine when the PWM RMD should be directly involved. The PWSM supports the company's business objectives and contributes to market profitability by influencing Private Wealth Advisor business practices in ways that minimize regulatory, financial, and reputational risks.

Required Skills:

"MUST" have these skills to be minimally qualified

• The ideal candidate is a self-motivated, client centric individual who has:
• Series 7, 66, 9, 10 (or equivalent) Licenses required
• Series 3, 31 licenses, if warranted
• 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 Private Wealth 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 Private Wealth 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
• If currently a Merrill Lynch Market Supervision Manager with three years of experience in the role and strongly preferred

Desired 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
• Bachelor’s degree or equivalent work experience

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

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

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

US - CA - Los Angeles - 2049 Century Park E - CENTURY CITY MAIN OFFICE (CA9159)Pay and benefits informationPay range$115,000.00 - $160,000.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.