New Accounts Supervision Principal – Supervision Principal II
About The Position
The New Account Supervision team reviews and approves new accounts submitted through the Enterprise Account Opening platform (EAO) for Merrill Lynch Wealth Management domestic advisory accounts and the Account Opening Wizard platform (AOW) for international advisory accounts. The team serves as the first line of defense during client onboarding, ensuring that new account applications comply with applicable FINRA, AML, and KYC rules and regulations. This role provides regulatory supervision and oversight for processes across multiple business channels. The Principal typically focuses on a specific process and applies knowledge of firm policies, procedures, and regulatory requirements to review, decide, escalate, and resolve related activities. The position requires careful risk evaluation and the ability to work independently and collaboratively with peers and field management. The role is based in Pennington, New Jersey, and Merrill describes its culture as office-based, subject to role-specific flexibility and applicable workplace policies.
Requirements
- Series 7 and Series 63 licenses.
- At least 2 years of industry experience.
- Strong technical, analytical, and communication skills.
- Attention to detail and strong time-management and organizational skills.
- Ability to work independently.
- Actively promote and demonstrate professional behavior.
- High school diploma, GED, secondary school education, or equivalent.
Nice To Haves
- Series 9/10 or Series 8 license; if not already licensed, obtain it within a timeframe specified at the time of offer.
- Series 65 or Series 66 licenses.
- Strong oral and written communication and analytical skills.
- Attention to detail and excellent organizational skills.
- Branch office and New Accounts experience or exposure.
- Working knowledge of regulatory policies and specifically ML policies and procedures.
- Ability to interpret relevant laws, rules, and regulations.
- Prioritization skills.
- Problem-solving skills.
- Relationship-building skills.
- Risk-management skills.
- Decision-making skills.
- Adaptability.
- Business process analysis skills.
- Collaboration skills.
- Bachelor’s degree or equivalent work experience.
Responsibilities
- Perform regulatory-mandated supervision of new accounts submitted by Merrill Financial Advisors.
- Work closely with business partners, including local Market Office Management Teams, to maintain positive working relationships and help ensure business is conducted within firm and industry guidelines.
- Communicate effectively in writing and verbally using clear, concise, and understandable language.
- Produce regular commentary on items of concern, ongoing issues, and recurring patterns.
- Proactively anticipate and identify concerns and issues as part of daily responsibilities.
- Complete work accurately and efficiently.
- Apply sound, consistent supervisory judgment based on thorough and systematic review of available information.
- Make timely, risk-based decisions and act decisively.
- Maintain a positive outlook, receive constructive feedback, and adapt to changing processes, policies, and regulations.
- Review, decide, escalate, and resolve activities related to the assigned supervision process.
Benefits
- Benefits eligible.
- Access to paid time off.
- Eligible to participate in the annual discretionary incentive plan, with awards based on individual performance and behavior, business or group performance and contributions, and the overall success of the company.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
Education Level
High school or GED
