Supervision Manager chez Bank of America

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve. Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Enterprise Job Description:
The Supervision Manager serves to ensure regulatory compliance and corporate mandates for all administrative, sales, and operational activities performed by registered associates. Primarily responsible for limiting risk and financial exposure to the business unit and the firm for registered associates located in call centers or financial centers. Responsible for day-to-day front line supervision, including mandated supervisory reviews and enterprise alerts, trade, solution & enrollment review, trade correction, and complaint resolution. Additional responsibilities include development of advisor proficiency through supplemental training, active coaching & remediation of policy and procedure violations. Series 7, 66, 9/10 or equivalent required.

The Supervision Management position will serve to ensure regulatory compliance and corporate mandates for all administrative, sales, and operational activities performed by Field Financial Services Advisors (FSA) roles in the Merrill Consumer Investments platform. This platform within the Consumer Banking & Investments has over 193 billion in assets under management.  A predominate objective of the position is to limit risk and financial exposure to the business unit and the firm.

The Supervision Manager (SM) reports to the Division Supervision Manager (DSM). The SM is a member of the Branch Leadership Team, along with members of the Centralized Supervision. The SM supports the Firm's business objectives and contributes to the line of business profitability by influencing Advisor business practices in ways that minimize regulatory and financial risk as well as uphold the Firms' reputation. Ultimately, the SM protects the Firm, helps growth business responsibly, and serves the client by proactively managing and mitigating risks.

The Supervision Manager as a member of the branch leadership team, is responsible for a wide variety of delegated Supervision which includes administrative and business functions related to the regulatory supervisor’s responsibilities for the parent and associate offices. The role functions independently, or with minimal guidance and supports the company's business objectives and contributes to branch office profitability by influencing Financial Advisor business practices in ways that minimize regulatory, financial and reputational risks.

Responsibilities:

• Coach and drive good behaviors and best practices to operate within the company’s risk controls and promote operational excellence.
• Use existing supervisory applications to complete quarterly registered representative review of each individual FSA location, ensuring compliance with all policies, procedures, settings and circumstances. Secondary locations are to be visited annually.
• Review, respond, and resolve Sales Practice customer complaints received verbally or in writing for Merrill edge.
• Assist in arbitration and legal matters.
• Perform client contact, as necessary.
• Review and maintain all Client, Compliance and Regulatory Incoming and Outgoing Correspondence
• Provide market and non-market action decisions.
• Review and approval of any events, such as, seminars, outside speaking engagements or media coverage conducted by FSAs.
• Monitor and review Investor Profile changes.
• Review Policy Settlements of a particular threshold to ensure settlements are within Firm Policy and Procedures.
• Monitor and review large trade and managed account enrollments
• Review exception requests for Control Securities and coordinate with Field FSAs.
• Monitor and manage registration, licensing and continuing education for advisors.
• Monitor and review client accounts for potential risk with regard to mutual fund trading, concentrated positions, active client reviews, and margin usage.
• Review Compliance 1028 exception items for potential exposure, and ensure timely and appropriate follow-up.
• Manage projects / initiatives to improve sales supervision and risk management.
• Monitor transactions for adherence to state registration requirements
• Monitor adherence to all established policies and procedures by registered representatives
• Escalate emerging risks within the enterprise risk framework to identify potential business concerns and/or breakdown in controls.

Skills:

• Bachelor’s Degree or equivalent work experience
• Must have FINRA Series 7, 8 or 9/10, 63/65 or 66 to be considered for the role (in lieu of the 8 or 9/10 we could consider candidates holding all of the following licenses: 4, 24, and 53)
• Familiarity with compliance and regulatory issues
• Strong auditing background with willingness to travel
• Strong leadership abilities, communication and delegation skills
• Familiarity with Microsoft Word, Excel, and PowerPoint
• Proven ability to manage risk, make sound decisions by having a deep understanding of industry regulations, supervisory requirements, and policies/procedures
• Strong time management and organization skills with the ability to prioritize appropriately
• Proven ability to build and retain strong interpersonal relationships
• Ability to identify client needs and concerns, and coach advisors on aligning solutions to goals in a suitable and controlled way
• 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 other partners to make  sound decisions with courage and conviction

Required Qualifications:

2 years industry experience

Must have FINRA Series 7, 8 or 9/10, 63/65 or 66 to be considered for the role (in lieu of the 8 or 9/10 we could consider candidates holding all of the following licenses: 4, 24, and 53)

Desired Qualifications:

Strong leadership abilities, communication and delegation skills

Familiarity with Microsoft Word, Excel, and PowerPoint

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

Shift:

Hours Per Week: