Merrill Market Supervision Manager

Bank of America•Melville, NY

8d•Onsite

About The Position

The Market Supervision Manager (MSM) supports Merrill Wealth Management Market Executives with delegated compliance, administrative, and business functions related to their managerial and supervisory responsibilities for parent and associate offices. As a member of the Market Leadership Team, the MSM supports business objectives and market profitability by influencing Financial Advisor business practices to minimize regulatory, financial, and reputational risks while serving clients. The role includes monitoring advisor and client activity, ensuring Financial Advisors are properly licensed, responding to regulatory inquiries, and resolving client concerns or complaints. The MSM works independently or with minimal guidance and keeps the Market Executive informed of significant matters, determining when the Executive should be directly involved. The role involves managing day-to-day Financial Advisor business needs, coaching advisors and other market personnel on policies and procedures, and managing the risks of business growth initiatives in alignment with the bank’s enterprise risk appetite. Merrill is committed to an in-office culture with role-specific attendance requirements and some flexibility. Internal employees currently working from home may apply, but selected candidates may be required to work onsite under the workplace excellence policy. The position is based at 300 Broadhollow Road, Melville, New York. It is a first-shift role scheduled for 40 hours per week. The annualized pay range is $115,000 to $160,000, with offers determined by experience, education, and skill set. The role is eligible for an annual discretionary incentive plan and company benefits, including access to paid time off and employee resources and support.

Requirements

Currently hold SIE, Series 7, Series 66 (or Series 63 and Series 65), and Series 9 and Series 10 (or Series 8) licenses, or equivalent licenses.
Hold Series 3 and Series 31 licenses if warranted.
Have at least 5 years of professional experience.
Demonstrate the ability to manage risk and make sound decisions, with a deep understanding of industry regulations, supervisory requirements, policies and procedures, wealth management concepts, and financial services products.
Ability to discuss client needs and concerns and coach Financial Advisors on aligning suitable, controlled solutions with client goals.
Strong interpersonal skills to coach Financial Advisors in mitigating risk through segmentation, disciplined investment practices, and documentation.
Strong analytical skills, including the ability to identify trends and root causes and effects, and implement improved processes to mitigate risk.
Demonstrate effective leadership through clear communication and collaboration, and make sound decisions with courage and conviction.
Strong time-management and organizational skills, with the ability to prioritize appropriately.

Nice To Haves

Bachelor’s degree or equivalent work experience.
Market Supervision Manager experience or completion of Merrill’s Office Management Team Associate Development Program.
A deep appreciation and understanding of the company’s client-centric strategy.

Responsibilities

Manage delegated compliance, administrative, and business functions related to the Market Executive’s managerial responsibilities for parent and associate offices.
Keep the Market Executive informed about significant matters and 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.
Perform, monitor, and demonstrate adherence to internal and external standards, policies, laws, rules, and regulations related to client advice and recommendations, sales practices, and market personnel conduct.
Manage day-to-day Financial Advisor business needs while ensuring adherence to the bank’s compliance policies and procedures.
Coach Financial Advisors, Client Associates, and other market personnel to support company strategy, grow their businesses, and adhere to policies and procedures related to sales practice conduct.
Partner with Financial Advisors, Client Associates, and other market personnel to manage risks associated with business growth initiatives and ensure alignment with the bank’s enterprise risk appetite.
Ensure Financial Advisors are properly licensed, respond to regulatory inquiries, and resolve client concerns or complaints.