Supervision Manager

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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization. Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

The Supervision Manager position will serve to ensure regulatory compliance and corporate mandates for all administrative, sales, and operational activities performed by Field Financial Solutions Advisors (FSAs), in the Merrill Consumer Investments platform. This platform within the Consumer Banking & Consumer Investments has over 400 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. The SM is a member of the Office Leadership Team. 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 Office Management Team, the SM 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 Solutions 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 branch reviews 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.
• 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 FSAs
• 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 Qualifications:

• Bachelor’s