Merrill Market Supervision Manager

Bank of America•Greensboro, NC

About The Position

Merrill Wealth Management provides wealth management and investment products and services to individuals, companies, and institutions. Its advisory teams support clients’ financial goals through investment advice and guidance, backed by Merrill investment insights and Bank of America banking services. Merrill describes its culture as in-office, with role-specific flexibility and office attendance requirements. Employees currently working from home may apply, but a successful candidate may be required to work onsite under the workplace excellence policy. The Market Supervision Manager (MSM) supports Merrill Wealth Management Market Executives with delegated compliance, administrative, and business functions for parent and associate offices. As a member of the Market Leadership Team, the MSM contributes to market profitability and business objectives by influencing Financial Advisor practices to mitigate regulatory, financial, and reputational risks. The role involves monitoring advisor and client activity, ensuring 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 and Division Supervision Executive informed on significant matters, determining when direct involvement from the Market Executive is needed. The MSM manages day-to-day Financial Advisor business needs, coaches advisors and other market personnel on compliance and business practices, and partners with them to manage risks associated with business growth initiatives. The position requires sound judgment, knowledge of wealth management and financial services, and the ability to identify and address risks while serving clients and supporting business growth.

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.
Series 3 and Series 31 licenses, if warranted.
At least 5 years of professional experience.
Proven ability to manage risk and make sound decisions, supported by 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 to align suitable solutions with client goals in a controlled manner.
Strong appreciation and understanding of the firm’s client-centric strategy.
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 implement improved processes to mitigate risk.
Demonstrated effective leadership through clear communication and collaboration, and the ability to make sound decisions with courage and conviction.
Strong time-management and organizational skills, including 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 for the Market Executive’s managerial responsibilities for parent and associate offices.
Work independently or with minimal guidance, 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, for compliance with firm and regulatory requirements and to minimize risk.
Coach Financial Advisors in supporting company strategy and growing their businesses.
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 bank compliance policies and procedures.
Coach Financial Advisors, Client Associates, and other market personnel to promote adherence to sales-practice policies and procedures.
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.
Keep the Division Supervision Executive informed on significant matters.