Merrill Private Wealth Supervision Manager

Bank of America•Dallas, TX

4d•Onsite

About The Position

The Private Wealth Supervision Manager (PWSM) supervises Private Wealth Advisors and supports clients, ensuring compliance with applicable laws, regulations, and company policies while focusing on the needs of ultra-high-net-worth families. The role is a client-centric leader and key partner to clients and advisors in managing risk and addressing client needs and concerns. As an integral member of the Office Management Team and market leadership team, the PWSM performs delegated supervision, compliance, administrative, and business functions connected to the Regional Managing Director’s management responsibilities for parent and associate offices. The manager works independently or with minimal guidance, keeps the Private Wealth Management Regional Managing Director informed about significant matters, and determines when direct involvement is needed. The PWSM monitors adherence to policies, provides an independent perspective on risk, partners with Centralized Supervision, and coaches advisors on business practices that minimize regulatory, financial, and reputational risk. The role supports business objectives and market profitability while helping ensure robust supervision and client solutions aligned with clients’ goals and objectives. The position reports to the Merrill Private Wealth Business Segment Supervision Executive, with dual reporting to the Merrill Private Wealth Management Regional Managing Director.

Requirements

Series 7, 66, 9, and 10 licenses, or equivalent, are required.
Series 3 and 31 licenses if warranted.
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 communicate in terms of client needs and concerns and coach Private Wealth Advisors on suitable, controlled solutions aligned with client goals.
Strong appreciation and understanding of a client-centric strategy.
Strong interpersonal skills to coach Private Wealth Advisors on mitigating risk through segmentation, disciplined investment practices, and documentation.
Strong analytical skills, including the ability to identify trends and root causes and implement improved risk-mitigation processes.
Demonstrated effective leadership through clear communication, collaboration, and sound decisions made with courage and conviction.
Strong time-management and organizational skills, with the ability to prioritize appropriately.
Minimum education requirement: High school diploma, GED, secondary school, or equivalent.
Hiring may be restricted by applicable FDIC and FINRA laws or regulations regarding specified criminal history.

Nice To Haves

Three years of experience as a Merrill Lynch Market Supervision Manager is strongly preferred.
Bachelor’s degree or equivalent work experience.
Decision-making, influence, negotiation, problem-solving, and risk-management skills.
Adaptability, business acumen, collaboration, and oral communication skills.
Relationship-building, business operations management, client solutions advisory, planning, and talent development skills.
Strong written communication skills.

Responsibilities

Supervise Private Wealth Advisors and support clients to ensure compliance with applicable laws, regulations, policies, and procedures.
Monitor adherence to policies and maintain robust supervisory practices in partnership with Centralized Supervision.
Manage risk associated with client outcomes and serve as an independent voice on risk.
Coach Private Wealth Advisors on aligning solutions with client needs, goals, and objectives in a suitable and controlled way.
Influence advisor business practices through segmentation, disciplined investment practices, and documentation to mitigate risk.
Perform delegated compliance, administrative, business, and supervision functions related to management of parent and associate offices.
Partner with the Regional Managing Director and keep them informed about significant matters, determining when their direct involvement is needed.
Identify trends, root causes, and effects, and implement improved processes to mitigate risk.
Help ensure client needs and concerns are addressed in alignment with clients’ goals and objectives.
Support company business objectives and contribute to market profitability while minimizing regulatory, financial, and reputational risks.