Private Wealth Market Client Relationship Manager

Bank of America•Los Angeles, CA

12d•Onsite

About The Position

The Private Wealth Market Client Relationship Manager is responsible for managing the client service experience for Private Wealth Management, including proactive service, client advocacy, transition management, and problem resolution. The role manages client contact and service delivery from the branch office, partnering with home office service organizations to provide strong service to Merrill Lynch clients. The position oversees client and recruit transitions to Merrill Lynch, including review, supervision, and approval of new accounts. It supports Financial Advisor account transitions and opportunities to increase client assets, resolves client and regulator complaints in partnership with Litigation or Compliance, and identifies, escalates, and reconciles compliance and other risk matters. The role also manages and develops branch support staff, coordinates supplemental compensation contracts, and partners with OMT on account reassignments. The manager serves as a point of contact for implementation of WMW in the Market and provides ongoing communications and training about enhancements. The role applies operations management expertise to daily processes, workflow design, operational efficiency, and evaluation of future initiatives. It also partners with service and operational teams to support client satisfaction, retention, and acquisition. The position may include management of associates. Managers are expected to foster inclusion, improve processes through data-informed decisions, communicate enterprise priorities, maintain risk discipline, coach employees, manage expenses and budgets, develop talent, and deliver business outcomes through effective prioritization and delegation.

Requirements

Currently hold Series 7 and Series 66 (or Series 63 and Series 65).
Currently hold Series 9 and Series 10 (or Series 8), or equivalent licenses.
Hold Series 3 and Series 31 licenses if warranted.
Minimum of five years of professional experience.
High School Diploma, GED, Secondary School, or equivalent.
Skills in compensation analysis, performance management, referral management, workforce planning, due diligence, internal audit review, leadership development, recruiting, risk management, client management, customer service management, employee counseling, succession planning, and trade operations management.

Responsibilities

Manage the overall delivery of the Private Wealth Management client service experience, including proactive service, client advocacy, transitions, and problem resolution.
Manage client contact and direct client service delivery from the branch office, partnering with home office service organizations.
Coordinate client transitions to Merrill Lynch, including review, supervision, and approval of new accounts.
Coordinate the transition of recruits from competing firms.
Respond to and resolve client or regulator complaints about operations and services, working with Litigation or Compliance personnel.
Use PMAC to support transitions of Financial Advisor accounts and identify opportunities to increase client assets.
Manage and develop branch support staff, including operations employees and Client Associates; conduct performance reviews and manage Market resource allocation and head-count reporting.
Serve as the Market point of contact for WMW implementation and as the ongoing conduit for enhancements, communications, and training.
Manage daily operational processes, create efficiencies, design workflows, and assess the impact of future initiatives on the unit and the Firm.
Identify, follow up on, escalate, and reconcile compliance and other risk matters, partnering with CBRU and Legal when appropriate.
Facilitate ongoing supplemental compensation contracts between Financial Advisors and Client Associates.
Partner with OMT to reassign accounts.
Monitor, assess, execute, and address client needs to support service satisfaction, retention, and acquisition.
Liaise with service and operational partners to advance client satisfaction opportunities.
Model an inclusive environment for employees and clients.
Apply process knowledge, operational excellence, innovation, data-based decision-making, and continuous improvement.
Communicate enterprise decisions, purpose, and results and connect them to team strategy and priorities.
Maintain risk discipline and controls, and identify, escalate, and debate issues.
Coach employees through inspection, feedback, and performance guidance.
Manage expenses and budgets in alignment with objectives.
Assess talent and build bench strength across the organization.
Prioritize, inspect, and delegate team work to deliver business outcomes.