Merrill Market Supervision Manager

Bank of America • White Plains, NY

1d • Onsite

About The Position

Merrill Wealth Management provides goals-based wealth management and investment products and services to individuals, companies, and institutions. It combines investment advice and guidance with access to Bank of America’s banking services. Merrill describes its culture as in-office, with role-specific flexibility, and values diversity and varied perspectives.

The Market Supervision Manager (MSM) supports Merrill Wealth Management Market Executives’ managerial and supervisory responsibilities through delegated compliance, administrative, and business functions 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 risk. The role monitors advisor and client activity, including financial transactions; supports advisor and client business needs; ensures advisors are properly licensed; responds to regulatory inquiries; and helps resolve client concerns and complaints. The MSM works independently or with minimal guidance and keeps the Market Executive informed of significant matters, determining when the Market Executive should be directly involved.

The role coaches Financial Advisors, Client Associates, and other market personnel on policies, procedures, sales practices, and business growth. It partners with them to manage risk in business initiatives while ensuring alignment with the bank’s enterprise risk appetite. The position is based at listed New York locations, is a first-shift role, and is scheduled for 40 hours per week. The stated annual 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 employee benefits, including access to paid time off and other resources and support.

Requirements

• Currently hold SIE, Series 7, and Series 66, or Series 63 and Series 65, and Series 9 and Series 10, or Series 8, or equivalent licenses.
• Hold Series 3 and Series 31 licenses if warranted.
• At least 5 years of professional experience.
• Demonstrated ability to manage risk and make sound decisions based on a deep understanding of industry regulations, supervisory requirements, policies and procedures, wealth management concepts, and financial services products.
• Ability to speak in terms of client needs and concerns and coach Financial Advisors to align solutions with goals in a suitable and controlled way.
• Deep appreciation and understanding of the client-centric strategy.
• Strong interpersonal skills to coach Financial Advisors on mitigating risk through segmentation, disciplined investment practices, and documentation.
• Strong analytical skills, including identifying trends and root causes and effects, and implementing improved processes to mitigate risk.
• Demonstrated effective leadership through clear communication and collaboration, making 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.

Responsibilities

• Manage delegated compliance, administrative, and business functions related to the Market Executive’s managerial responsibilities for parent and associate offices.
• Work independently or with minimal guidance, keep the Market Executive informed of 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 concerning client advice and recommendations, sales practices, and market personnel conduct.
• Manage day-to-day Financial Advisor business needs while ensuring adherence to bank compliance policies and procedures.
• Coach Financial Advisors, Client Associates, and other market personnel to promote adherence to policies and procedures related to sales-practice conduct.
• Coach advisors in supporting company strategy and growing their businesses.
• Partner with Financial Advisors, Client Associates, and other market personnel to manage risk 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.
• Keep the Division Supervision Executive informed on significant matters.

Benefits

• Benefits eligibility.
• Access to paid time off.
• Resources and support for employees.
• Eligibility to participate in an annual discretionary incentive plan, with awards based on individual performance and behaviors, line-of-business or group contributions, and overall company success.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed