New Accounts Supervision Principal

Job Description:

Merrill Wealth Management is a leading provider of comprehensive wealth management and investment products and services for individuals, companies, and institutions. Merrill Wealth Management 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’s Financial Advisors and Wealth Management Client Associates help clients pursue the life they envision through a personal relationship with their advisory team committed to their needs. We believe trust comes from transparency. Our trusted advisory teams are equipped with access to the investment insights of Merrill coupled with the banking convenience of Bank of America.

Merrill 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 Merrill, we empower you to bring your whole self to work. We value diversity in our thoughts, business, and within our employees and clients. Our Wealth Management team represents an array of different backgrounds and bring their unique perspectives, ideas and experiences, helping to create a work community that is culture driven, resilient, results focused and effective.

Internal employees who are currently working from home are still eligible to apply. However, if selected for the role, you may be required to work onsite in accordance with the workplace excellence policy.

Job Description:

The New Account Supervision team reviews and approves new accounts that flow through the Enterprise Account Opening platform (EAO) for MLWM domestic advisory accounts, and the Account Opening Wizard platform (AOW) for MLWM International Advisory accounts. The team acts as the first line of defense during client onboarding, and reviews new account applications to ensure compliance with all applicable FINRA, AML and KYC rules and regulations.

This role provides regulatory supervision and oversight for processes within a supervision group for multiple business channels. Principals must show attention to detail and effectively evaluate risks of the processes. The role is typically focused on a specific process and requires knowledge of Firm policies, Firm procedures and regulatory requirements that govern the process. Duties include review, decisioning, escalation and resolution of activities related to the process. Principals must be able to work independently, as well as interdependently with peers and field management.

Job Responsibilities:

Include (but are not limited to) the following:

•    Perform regulatory mandated supervision of new accounts submitted by Merrill Financial Advisors.

•    Working closely with key business partners including the local Market Office Management Teams by establishing and maintaining positive working relationships to ensure business is conducted within guidelines set by the Firm and industry regulations

•    Communicating effectively (both written and oral) using clear, concise, and understandable language
•    Producing regular commentary on items of concern, ongoing issues and recurring patterns
•    Proactively anticipating and identifying concerns/issues as part of one’s daily responsibilities
•    Shows dedication to getting the job done accurately and efficiently.
•    Demonstrating sound and consistent supervisory judgment based on thorough and systematic review of information available
•    Makes timely, risk-based decisions and acts decisively.
•    Maintaining positive outlook, receptivity to constructive feedback, and flexibility to accommodate changing processes, policies, and regulations

Required Qualifications:

• Series 7 and 63 Licenses
• 2 year minimum industry experience
• Strong technical, analytical and communication skills
• Detail oriented and strong time management and organizational skills
• Ability to work independently
• Actively promotes and exhibits behaviors in a professional manner

Desired Skills:

• Series 9/10 or 8 – if not already licensed, must be obtained within an acceptable timeframe (will be specified at time of offer)
• Series 65 or 66 licenses
• Strong oral and written communication and analytical skills
• Attention to detail and excellent organizational skills
• Branch office and New Accounts experience or exposure
• Working knowledge of regulatory policies and specifically ML policies/procedures
• Interpret Relevant Laws, Rules, and Regulations
• Prioritization
• Problem Solving
• Relationship Building
• Risk Management
• Decision Making
• Adaptability
• Business Process Analysis
• Collaboration
• Bachelor’s Degree (or equivalent work experience)

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

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NJ - Pennington - 1300 American Blvd - Hopewell Bldg 3 (NJ2130)Pay and benefits informationPay range$74,900.00 - $91,600.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.