The Supervisory 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), Banking Financial Advisors (BFA), & Corporate Financial Solutions Advisors (CFSA) in the Merrill Edge platform. This platform within the Consumer Banking & Merrill Edge 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 Supervisory Manager (SM) reports to the Division Supervision manager. 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.
Supervision manager as a member of the branch leadership team, the r 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. He or she functions independently, or with minimal guidance, Supervision manager 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.
Specific Responsibilities include (but are not limited to) the following:
- 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 semi-annual audits of each individual FSA/BFA/CFSA 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 sales seminars, outside speaking engagements or media coverage conducted by FSAs/BFAs.
- Monitor and review Investor Profile changes.
- Monitor accounts with large debit balances and short market values over $500,000 and coordinate approval with Credit Administration and clients.
- 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/BFAs.
- Monitor and manage registration, licensing and continuing education for all advisors including FSA’s/CFSA’s/SRM’s
- 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.
Required Skills: "Must" have these skills to be minimally qualified
- 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
Enterprise Role Overview:
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
• Bachelor's degree or equivalent work experience • FINRA Series 7, 8 or 9/10, 63/65 or 66 or equivalent to be considered for the role. • Familiarity with compliance and regulatory issues • Strong leadership abilities, communication and delegation skills • Familiarity with Microsoft Word, Excel and PowerPoint • Proven ability to manage risk and make sound decisions by having a deep understanding of industry regulations, supervisory requirements, and policies/procedures • 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
• Ability to demonstrate strong and effective leadership style through clear communication and collaboration with other partners to make sound decisions with courage and conviction
Posting Date: 08/09/2019
Location: Atlanta, GA, 3116 Peachtree Rd NEBUCKHEAD BC (GA7804), Alpharetta, GA, WINDWARD CONCOURSE, 1355 Windward Concourse, - United States