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 (MLWM) domestic advisory accounts and the Account Opening Wizard platform (AOW) for MLWM International Advisory accounts. The team serves as the first line of defense during client onboarding and reviews applications for compliance with applicable FINRA, AML, and KYC rules and regulations. This role provides regulatory supervision and oversight for processes across multiple business channels. It typically focuses on a specific process and requires knowledge of Firm policies, procedures, and applicable regulatory requirements. Duties include reviewing, deciding on, escalating, and resolving activities related to that process. The Principal works independently and with peers and field management, applying attention to detail and risk evaluation.
Requirements
- Series 7 license.
- 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 exhibit professional behaviors.
- Minimum education requirement: High School Diploma, GED, Secondary School, or equivalent.
Nice To Haves
- Series 8 or Series 9/10, and Series 63 and 65 or 66. If not already licensed, these must be obtained within an acceptable timeframe specified at the time of offer.
- 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.
- Establish and maintain positive working relationships with key business partners, including local Market Office Management Teams, to help ensure business is conducted within Firm guidelines and industry regulations.
- Communicate effectively in writing and verbally using clear, concise, 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, be receptive to constructive feedback, and adapt to changing processes, policies, and regulations.
Benefits
- Access to paid time off.
- Benefits eligibility.
- Eligibility to participate in the annual discretionary plan, with awards based on individual performance and behaviors, line of business and/or group performance and contributions, and overall Company success.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
Education Level
High school or GED
