Merrill Market Supervision Manager

Company: Bank of America
Location: Washington
Posted on: November 17, 2024

Job Description:

Merrill Market Supervision Manager page is loaded Merrill Market Supervision Manager Apply locations Washington time type Full time posted on Posted 30+ Days Ago job requisition id 24000404 Job Description:Merrill Wealth Management is a leading provider of comprehensive wealth management and investment products and services for individuals, companies, and institutions. Merrill Wealth Management is one of the largest businesses of its kind in the world specializing in goals-based wealth management, including planning for retirement, education, legacy, and other life goals through investment advice and guidance. -Merrill's Financial Advisors and Wealth Management Client Associates help clients pursue the life they envision through a personal relationship with their advisory team committed to their needs. -We believe trust comes from -transparency. -Our -trusted advisory teams are equipped with access to the investment insights of Merrill coupled with the banking convenience of Bank of America.At Merrill, we empower you to bring your whole self to work. We value diversity in our thoughts, business, and within our employees and clients. Our Wealth Management team represents an array of different backgrounds and bring their unique perspectives, ideas, and experiences, helping to create a work community that is culture driven, resilient, results focused and effective.
The Market Supervision Manager ( MSM) is a member of the Market Leadership Team, along with the Market Client Relationship Manager (CRM). The Market Supervision Manager (MSM) supports the Firm's business objectives and contributes to the Market's profitability by influencing Financial Advisors (FA) business practices in ways that minimize regulatory and financial risk as well as uphold the Firms' reputation. Additionally, they ensure Financial Advisors are properly licensed; respond to regulatory inquiries, and resolve client concerns or complaints. The MSM supports the Firm's business objectives and contributes to the Market's profitability by influencing Financial Advisors (FA) business practices in ways that minimize regulatory and financial risk as well as uphold the Firms' reputation. Ultimately, the MSM protects the Firm, grows the business, and serves the client by proactively managing and mitigating risk.What you'll accomplish

• Manage delegated compliance, administrative and business functions related to the Merrill Wealth Management Market Executive's overall managerial responsibilities for parent and associate offices
• This individual functions independently, or with minimal guidance, but must keep the Market Executive informed on significant matters and must determine when the Market Executive should be directly involved
• Monitor advisor and client activity including financial transactions to ensure compliance with firm and regulatory requirements and minimize risk
• Coach advisors in supporting the company strategy and continuing to grow their businesses.
  Key Qualifications for the role:
  • Candidates are required to currently hold SIE, Series 7 AND Series 66 (or Series 63 AND Series 65), Series 9 AND Series 10 (or Series 8) or equivalent licenses
    • Series 3, 31 licenses, if warranted
    • Minimum 5+ years professional experience required
    • Proven ability to manage risk, make sound decisions by having a deep understanding of industry regulations, supervisory requirements, policies/procedures, wealth management concepts, and financial services products
    • Ability to speak in terms of client needs and concerns, and coach Financial Advisors on aligning solutions to goals in a suitable and controlled way
    • A deep appreciation and understanding of our client centric strategy
    • Strong interpersonal skills to provide coaching to Financial Advisors to mitigate risk through segmentation, disciplined investment practices, and documentation
    • Strong analytical skills with ability to identify trends, root cause and effects, and implement improved processes to mitigate risk
    • Demonstrated strong and effective leadership style through clear communication and collaboration with others, making sound decisions with courage and conviction
    • Strong time management and organization skills with the ability to prioritize appropriately
    • Prefer Market Supervision Manager experience, or completion of Merrill's Office Management Team Associate Development Program Desired Qualifications:
      • Bachelor's degree or equivalent work experience The Market Supervision Manager is a direct report to the Division Supervision Executive (DSE), with a matrix reporting line to the Market Executive (ME). These managers are client centric leaders in the organization. They are key partners with clients and Financial Advisors in risk management to ensure risk is appropriately managed. The Market Supervision Manager is an integral member of the Office Management Team (OMT), and is responsible for a variety of supervision, compliance, and risk management functions. Many of these functions are focused on managing risk in client outcomes, partnering with the Director, and coaching the Financial Advisor. The functions are related to the Market Executives overall responsibilities for the branch offices within the Market and are delegated to the Market Supervision Manager. In addition to their primary functions, the Market Supervision Manager will partner with and backup the Client Relationship Manager. The MSM operates with minimal guidance, monitors adherence to policies, acts as the independent voice on risk, supports the company's business objectives, and contributes to branch office profitability by influencing FA business practices in ways that minimize regulatory, financial, and reputational risks. In addition, the Market Supervision Manager partners with the Division Supervision Executive on many supervisory functions. Collectively, the branch and central supervision teams are responsible for ensuring robust supervision is conducted and ensuring solutions around client needs and concerns are managed in alignment with client goals. Please be advised that under current company policy, Merrill Wealth Management does not sponsor a visa petition or other work authorization for this position.Shift:1st shift (United States of America)Hours Per Week: -40 About Us Bank of America is committed to help employees through the transition period when they're displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity. Regardless of the position you are interested in, the starting points to building your resume are the same:
        1. -Determine the job or types of jobs you want to do and research their responsibilities and qualifications.
        2. -Think about why you can do the job and make a list of your skills that are relative to the job.
        3. -Identify experiences or accomplishments that show your proficiency in the skills required for the job.
        4. -Summarize your abilities, accomplishments and skills into a brief, concise document.
        - Considerations when writing a resume
        --- -Do be brief. Resumes should be 1-2 pages in length.
        --- -Do be upbeat and active in your wording.
        --- -Do emphasize what you have done clearly and concretely.
        --- -Do be neat and well organized.
        --- -Do have others proofread and critique your resume. Spell check. Make it error free.
        --- -Do use high quality, white or light colored 8 - x 11 paper. Use a laser printer if possible.
        --- -Don't be dishonest, always tell the truth about yourself in the most flattering light.
        --- -Don't include salary history or requirements.
        --- -Don't include references.
        --- -Don't include accomplishments that do not support your professional goals.
        --- Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.)
        --- -Don't use italics, underlining, shadows or other fancy treatments. Seven steps to a successful interview
        1. -Anticipate -Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview?
        2. -Research -What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available?
        3. -Assess -Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight.
        4. -Prepare Answers -Think about what the interviewer may ask, determine what the best answer is and write it down.
        5. -Prepare Questions - Interviewing is a two-way street. By asking thoughtful questions, you communicate your interest and learn a lot about the job. Choose two or three questions to ask your interviewer. Avoid asking a lot of questions about vacation time or breaks.
        6. -Practice - It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease.
        7. -Follow-up - Send a brief follow-up letter to the interviewer. Keep in mind that the many job searchers will not send a follow-up letter. Sending one can become a competitive advantage.
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Keywords: Bank of America, Severn , Merrill Market Supervision Manager, Executive , Washington, Maryland