Merrill Private Wealth Supervision Manager - New York, NY

Job Description:

Merrill Lynch Wealth Management is a leading provider of comprehensive wealth management and investment products and services for individuals, companies, and institutions. Merrill Private Wealth Management (MPWM) 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 Private Wealth Advisors (PWA's) help clients pursue the life they envision through a one-on-one relationship with a PWA committed to their needs.  We believe trust comes from transparency.  Our trusted Private Wealth Advisors are equipped with access to the investment insights of Merrill Private Wealth Management coupled with the banking convenience of Bank of America.

There is an immediate opening for a Private Wealth Supervision Manager (PWSM) in the PWM Northeast Region. The PWSM position reports to the Merrill Private Wealth Management Regional Managing Director (RMD), Greg McGauley with dual reporting to the Private Wealth Division Supervision Executive (DSE).

The PWSM’s function’s as a member of the market leadership team, responsible for a wide variety of delegated compliance, administrative and business functions related to the MPWM RMD's overall managerial responsibilities for parent and associate offices. He or she functions independently, or with minimal guidance, but must keep the MPWM RMD informed on significant matters and must determine when the MLWM RMD should be directly involved. The PWSM supports the company's business objectives and contributes to market profitability by influencing Private Wealth Advisor business practices in ways that minimize regulatory, financial and reputational risks.

Required Skills: "MUST" have these skills to be minimally qualified

• The ideal candidate is a self-motivated, client centric individual who has:

• Series 7, 66, 9, 10 (or equivalent) Licenses required

• Series 3, 31 licenses, if warranted

• 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 Private Wealth 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 Private Wealth 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

• If currently an internal associate, completion of Associate Office Management Team Development program and/or currently a Merrill Lynch Market Supervision Manager strongly preferred

Desired Skills:

• Bachelor’s degree or equivalent work experience

2021 Year End Metrics:

Revenue: 417MM

Production: 205MM

PWAs:  61

Support Staff: 130

This is an excellent opportunity for a self-motivated individual who has demonstrated strong and dynamic leadership skills, effective interpersonal and organizational skills and has a high focus on business management, client satisfaction and retention. This leader also represents PBIG in the Southern Connecticut Market President’s organization. The ideal candidate should have a strong compliance background with knowledge of supervisory and regulatory requirements. Candidate must have a Series 7, 66 (or 63 and 65), 9 and 10 licenses and be assessment center approved. Series 3/31 is preferred but not a prerequisite.

Workday/Job Code Description

Merrill Private Wealth Division provides comprehensive wealth management services to affluent and high-net-worth clients along with retirement and benefit plan services, philanthropic solutions and asset management to individuals and institutions. The Private Wealth Supervision Managers role is to supervise our Private Wealth advisors, and clients to ensure full compliance with laws, and policies while focusing on the needs of Ultra High Net Worth Families. These managers are client centric leaders in the organization. They are key partners with clients and Private Wealth Advisors in risk management to ensure risk is appropriately managed. The Private Wealth 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 Regional Managing Director and coaching the Advisor. Their functions are related to the Regional Managing Directors overall responsibilities for the branch offices delegated to the Private Wealth Supervision Manager. In addition to their primary functions, the Private Wealth Supervision Manager will partner with and backup the Client Relationship Manager. The Private Wealth Supervision Manager operates with minimal guidance, monitors adherence to policies, acts as the independent voice on risk, supports the companys 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 Private Wealth Supervision Manager partners with Centralized Supervision. 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.

Shift:

1st shift (United States of America)

Hours Per Week: 

40