Bank of America Corporation
Senior Supervision Principal I
Bank of America Corporation, Las Vegas, NV
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.
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.
Job Description:
The Sr. Supervision Principal I role manages diverse administrative, operational, supervisory, and regulatory oversight functions within a supervision group for multiple business channels, and is responsible for a wide variety of delegated processes or projects. Regulatory oversight includes an expectation to have routine dialogue and collaborate with various line of business partners and senior supervision leadership on multiple processes or projects from development through to completion. The primary objective of the role is to reduce risk to the Firm, including all lines of business and employees, by performing in-depth analysis aimed at assessing and identifying potential risks that may hinder the reputation of effectiveness of the Firm. Principals will articulate methodology, review documentation, escalate and identify key areas of risk and make recommendations for risk mitigation by effectively coordinating all aspects of an assigned process or project. Requires supervisory experience and thorough knowledge of Firm and regulatory requirements including the variety of products and services offered.
The incumbent will evaluate, perform in-depth analysis and disposition outliers from expected Merrill Lynch Wealth Management policy, procedure or practices. Scope of outlier monitoring and oversight is anticipated to be conducted across a range of topics, including activities conducted by branch office staff, and could shift over time. Areas of focus would be informed by Business Oversight and Supervision and broader Merrill Lynch Wealth Management executive leadership, in close partnership with key control partners.
Incumbent will be responsible for performing supervisory reviews and field employee conversations in connection with outlier report appearances. Key expectation to execute sound supervisory judgment and intellectual curiosity in disposition of the outlier report records, along with maintaining thorough, robust documentation. Duties will also include routinely partnering with market leadership and division performance executive.
Job Responsibilities include (but are not limited to) the following:
Qualifications:
• Bachelor's Degree (or equivalent work experience)
• Supervisory registration (S7, S66, S9, S10 or relevant equivalents) required
• 5 or more years of Supervisory (or equivalent Compliance or Audit) experience
• Exceptional analytical skills and attention to detail
• Excellent communication and organization skills
• Track record of sound supervisory judgment and decision making
• Executive presence with bias toward action
• Ability to work independently and remotely from manager/colleagues
• History of successfully managing sizable, time sensitive projects advantageous
• Branch office experience or exposure would be helpful
• Working knowledge of security products and services required
• Working knowledge of regulatory policies and specifically ML policies/procedures expected
Skills:
Minimum Education Requirement: Bachelor's Degree (or equivalent work experience)
Shift:
1st shift (United States of America)
Hours Per Week:
40
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.
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.
Job Description:
The Sr. Supervision Principal I role manages diverse administrative, operational, supervisory, and regulatory oversight functions within a supervision group for multiple business channels, and is responsible for a wide variety of delegated processes or projects. Regulatory oversight includes an expectation to have routine dialogue and collaborate with various line of business partners and senior supervision leadership on multiple processes or projects from development through to completion. The primary objective of the role is to reduce risk to the Firm, including all lines of business and employees, by performing in-depth analysis aimed at assessing and identifying potential risks that may hinder the reputation of effectiveness of the Firm. Principals will articulate methodology, review documentation, escalate and identify key areas of risk and make recommendations for risk mitigation by effectively coordinating all aspects of an assigned process or project. Requires supervisory experience and thorough knowledge of Firm and regulatory requirements including the variety of products and services offered.
The incumbent will evaluate, perform in-depth analysis and disposition outliers from expected Merrill Lynch Wealth Management policy, procedure or practices. Scope of outlier monitoring and oversight is anticipated to be conducted across a range of topics, including activities conducted by branch office staff, and could shift over time. Areas of focus would be informed by Business Oversight and Supervision and broader Merrill Lynch Wealth Management executive leadership, in close partnership with key control partners.
Incumbent will be responsible for performing supervisory reviews and field employee conversations in connection with outlier report appearances. Key expectation to execute sound supervisory judgment and intellectual curiosity in disposition of the outlier report records, along with maintaining thorough, robust documentation. Duties will also include routinely partnering with market leadership and division performance executive.
Job Responsibilities include (but are not limited to) the following:
- Executing an in-depth review and analysis of outliers presented for evaluation in the workflow tool
- Demonstrating sound and consistent judgment based on thorough and systematic review of information available
- Maintaining a high level of intellectual curiosity; asking pertinent questions to gather relevant facts surrounding a problem, issue, or objective; weighing the relative importance, adequacy, and validity of information to form fact-based opinions, solve problems and make sound recommendations
- Communicating effectively (both written and oral) with colleagues, branch office partners and Business Oversight and Supervision leadership using clear, concise, and understandable language
- Timely, direct and detailed articulation of notable individual circumstances or broader trends and patterns that warrant escalation
- Maintaining robust documentation of outlier disposition, including the elements considered, resulting conclusions, and any information gathered through supplemental conversations
- Producing periodic metrics, commentary on reviews conducted and best practice recommendations
- Coaching and modeling a congenial and collaborative approach to analyzing and addressing potential risk issues for partners across Merrill Lynch Wealth Management
- Remain informed of Firm-wide initiatives, policy changes, targeted review results, regulatory priorities, industry-wide disciplinary action by regulators, and Firm operational loss findings that might inform potential emerging areas of focus
- Identifying and articulating data, context or training opportunities to continually improve the accuracy and effectiveness of outlier oversight and monitoring processes
- Maintaining positive outlook, receptivity to constructive feedback, and flexibility to accommodate changing processes, policies, and regulations
- Openness to periodic travel in support of relationship building and information gathering as requested by Business Oversight and Supervision leadership.
Qualifications:
• Bachelor's Degree (or equivalent work experience)
• Supervisory registration (S7, S66, S9, S10 or relevant equivalents) required
• 5 or more years of Supervisory (or equivalent Compliance or Audit) experience
• Exceptional analytical skills and attention to detail
• Excellent communication and organization skills
• Track record of sound supervisory judgment and decision making
• Executive presence with bias toward action
• Ability to work independently and remotely from manager/colleagues
• History of successfully managing sizable, time sensitive projects advantageous
• Branch office experience or exposure would be helpful
• Working knowledge of security products and services required
• Working knowledge of regulatory policies and specifically ML policies/procedures expected
Skills:
- Attention to Detail
- Prioritization
- Problem Solving
- Relationship Building
- Risk Management
- Decision Making
- Interpret Relevant Laws, Rules, and Regulations
- Written Communications
- Adaptability
- Business Process Analysis
- Collaboration
- Oral Communications
Minimum Education Requirement: Bachelor's Degree (or equivalent work experience)
Shift:
1st shift (United States of America)
Hours Per Week:
40