Private Wealth Senior Business Manager

Bank of America Corporation; San Antonio (TX); On-site; USD 90,000 - 150,000; Full time

Benefits offered by this job

Competitive benefits

Flexible work options

Job summary

Bank of America Corporation is seeking a Senior Business Manager to drive strategy and execution for a Financial Advisor team within Wealth Management. The role focuses on developing the team’s business plan, managing profitability, and coordinating with market leaders across divisions.

The position requires substantial leadership, deep knowledge of wealth management products, and strong risk and regulatory awareness.

Qualifications

• Series 7, 63/65 or 66 or equivalent; must obtain all state registrations held by the Financial Advisor(s) and Advisor Team(s) they support
• Strong leadership abilities, communication and delegation skills
• Understanding of how to deliver a strong overall client experience
• Thorough knowledge and understanding of the suite of Wealth Management products and services
• Proven ability to manage risk and make sound decisions by having a deep understanding of industry regulations, supervisory requirements and policies/procedures
• Ability to identify client needs and concerns and articulate appropriate approach to align solutions to goals in a suitable and controlled way
• Strong analytical skills with ability to identify trends, root cause and effects and implement improved processes to increase growth and mitigate risk
• Ability to influence and demonstrate strong and effective leadership through clear communication and collaboration with other partners to make sound decisions with courage and conviction; demonstrated ability to influence to the desired outcome, without direct authority
• Minimum of five years of experience performing specialist/analyst level responsibilities or equivalent industry experience

Responsibilities

• Develops and manages the team’s business plan and practice financials
• Manages and drives complex financial-related initiatives including pricing strategy and profitability analysis
• Interfaces with market and division leaders to ensure alignment with division strategies and goals
• Tracks progress with quantifiable business and activity goals and ensures team activities align with metrics
• Manages administrative functions including personnel processes and performance monitoring
• Ensures compliance with Merrill Lynch Wealth Management policies and procedures

Skills

Leadership

Client experience

Wealth management knowledge

Risk management

Regulatory compliance

Communication and delegation

Education

MBA

Firm designation

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. For internal employees; participation in a work from home posture does not make you ineligible to post, however, may require to meet the workplace excellence policy.

Senior Business Manager – Role Overview

The Senior Business Manager role is a key contributor to a Financial Advisor team in creating strategy and ensuring execution related to multiple metrics and priorities across the teams business plan and goal deliverables. Develops and manages the teams business plan and practice financials. Manages and drives complex financial-related initiatives to include pricing strategy, profitability compared to revenue and time capacity. Interfaces with market and division leaders to ensure team strategy and initiatives support overall division market strategies and goals. Tracks progress with quantifiable business and activity goals and ensures team daily activities aligns with practice metrics, goals and objectives. Manages diverse administrative functions to include personnel processes and performance monitoring and coordination of team assignments, projects and key initiatives, and overall team client service strategy. Requires a thorough knowledge of the Merrill Lynch Wealth Management business functional area and products. Requires a working knowledge of general bank policies, programs and procedures and financial/accounting practices. This position may be responsible for the provision of residential mortgage loans, and as such, is subject to SAFE Act registration requirements. Pursuant to the SAFE Act requirements, all employees engaged in residential mortgage loan originations must register with the federal registry system and remain in good standing. Since this position requires SAFE Act registration, employees are required to register and to submit to the required SAFE Act background check. Failure to obtain and/or maintain SAFE Act registration may result in disciplinary action up to and including termination.

Required Qualifications

• Series 7, 63/65 or 66 or equivalent; must obtain all state registrations held by the Financial Advisor(s) and Advisor Team(s) they support SAFE ACT Registration; ADV-2B
• Strong leadership abilities, communication and delegation skills
• Understanding of how to deliver a strong overall client experience
• Thorough knowledge and understanding of the suite of Wealth Management products and services
• Proven ability to manage risk and make sound decisions by having a deep understanding of industry regulations, supervisory requirements and policies/procedures
• Ability to identify client needs and concerns and articulate appropriate approach to align solutions to goals in a suitable and controlled way
• Strong analytical skills with ability to identify trends, root cause and effects and implement improved processes to increase growth and mitigate risk
• Ability to influence and demonstrate strong and effective leadership through clear communication and collaboration with other partners to make sound decisions with courage and conviction; demonstrated ability to influence to the desired outcome, without direct authority
• Minimum of five years of experience performing specialist/analyst level responsibilities or equivalent industry experience

Desired Qualifications

• MBA and/or obtain/maintain at least one firm approved designation

Skills

• Administrative Services
• Customer Experience Improvement
• Project Management
• Sales Performance Management
• Strategy Planning and Development
• Business Acumen
• Business Analytics
• Candidate Screening
• Coaching
• Continuous Improvement
• Account Management
• Process Simplification
• Reporting

Additional Employment Information

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

Shift: 1st shift (United States of America)

Hours Per Week: 40

Privacy Statement

Privacy Statement: https://careers.bankofamerica.com/en-us/privacy-notice

Company Culture and Benefits

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