Business Manager

Bank of America•Northbrook, IL

2d•Onsite

About The Position

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. The 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. Helps manage the teams business plan and practice financials. Tracks progress with quantifiable business and activity goals and ensures team daily activities aligns with practice metrics, goals and objectives. Coordinates team assignments, projects and key initiatives, and ensures execution of teams 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 role is an FA Paid Resource. 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.

Requirements

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 Required
Obtain and/or maintain at least one firm approved designation
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
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

Nice To Haves

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

Responsibilities

Partner with Financial Advisors (FAs) and advisory teams to develop, implement, and execute the team’s business plan , ensuring alignment with growth objectives and firm priorities.
Translate strategic goals into actionable initiatives, timelines, and performance metrics.
Monitor business performance across key indicators (revenue growth, asset flows, client acquisition, etc.) and adjust strategies to drive results.
Manage and track practice financials , including revenue, expenses, profitability, and budgeting processes.
Provide insights and report to FAs on business performance, trends, and opportunities for growth or efficiency
Support resource allocation and capacity planning to optimize team productivity.
Establish and maintain quantifiable business and activity goals aligned with firm and team objectives.
Analyze data to identify trends, root causes, and business opportunities.
Develop reporting dashboards and cadence of reviews to ensure accountability and progress tracking.
Oversee execution of the team’s client service model and experience strategy.
Ensure consistent delivery of a high-quality, personalized client experience across all touchpoints.
Identify opportunities to enhance client engagement, retention, and satisfaction.
Coordinate team assignments, workflow, and key initiatives to ensure efficient execution
Act as a central point of organization for projects, ensuring timely delivery and cross-functional alignment
Provide leadership support through delegation, communication, and prioritization of team activities
Maintain deep knowledge of wealth management products, services, and platforms , including investments, banking, lending, and mortgage solutions
Support FAs and clients with appropriate product positioning and solutions alignment
Act as a subject matter resource on firm offerings and capabilities
Ensure adherence to regulatory requirements, firm policies, and supervisory procedures
Proactively identify and mitigate operational, compliance, and business risks
Support SAFE Act requirements and maintain required registrations and licensing standards
Collaborate with internal partners (e.g., banking, lending, operations, compliance, marketing) to deliver integrated client solutions
Influence outcomes and drive decisions without direct authority , using strong communication and relationship management skills.