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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. 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) in the Merrill Consumer Investments platform. 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 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 Advisor business practices in ways that minimize regulatory, financial and reputational risks.

Responsibilities:

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 quarterly review of each individual FSA, ensuring compliance with all policies, procedures, settings and circumstances. Secondary locations are to be reviewed 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 tabling events conducted by FSAs.
• Monitor and review large trade.
• Monitor and manage registration, licensing and continuing education for registered representatives.
• 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 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

Skills:

• Attention to Detail
• Continuous Improvement
• Controls Management
• Risk Management
• Fraud Management
• Issue Management
• Monitoring, Surveillance, and Testing
• Policies, Procedures, and Guidelines Management
• Regulatory Relations
• Active Listening
• Decision Making
• Due Diligence
• Leadership Development
• Oral Communications

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

Shift:

Hours Per Week: 

Pay Transparency details

US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100), US - NJ - Pennington - 1400 American Blvd - Hopewell Bldg 4 (NJ2140), US - NY - New York - 1114 Avenue Of The Americas - Grace (NY1544)

Pay and benefits information

Pay range

$88,000.00 - $103,600.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.