Bank of America
Private Wealth Market Client Relationship Manager
Bank of America, Chicago, Illinois, United States, 60290
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
Private Wealth Market Client Relationship Manager
(PWCRM) is a direct report to the Private Wealth Division Client Relationship Executive (DCRE) with dual reporting to the Merrill Private Wealth Management Regional Managing Director (RMD). The PWCRM functions as a member of the market leadership team. The PWCRM manages the Wealth Management Client Associates, Operations support staff, and the branch's Operations Department. The PWCRM is responsible for delivering firm strategy through the execution of the Market Strategy Plans. The PWCRM partners closely with advisor teams to deliver a branded client service model focusing on digital solutions and enterprise capabilities. Additionally, the MPWCRM serves as the Lead and Referral Coordinator for the market and manages the market expenses. The MPWCRM partners closely with the Senior Private Wealth Client Relationship Manager (SPWCRM) to support the ongoing development of the Elite Growth Practice roles, Private Wealth Management Client Associates, and the Operations staff.The ideal candidate is a team player and should possess strong coaching, relationship building, problem resolution and interpersonal skills. The position requires a high focus on supervisory and regulatory requirements, business management and retention. Candidates should have excellent leadership, process and organizational skills delivered with a highly effective interpersonal style. Strength and commitment around the Optimal Practice Model and the Client Experience Standard are critical. The candidate would be actively engaged in working with PWAs, Analysts, and CAs to deliver service models beyond expectations, display strong operational knowledge and be highly motivated to drive firm-wide initiatives such as Client Support Enhancer, SQA+, Client
Retention/Acquisition.Responsibilities include:Ensuring client service expectations are met and exceeded while balancing the risk and exposure for MerrillManaging the branch's Private Wealth Management Client Associates and Service Support StaffRepresenting the office and Merrill with clients, prospects, Financial Advisor recruits, vendors, regulators and outside legal counselRequires diversification and experience with Bank of America and Merrill Products & Services, Trend Analysis, Risk Assessment, Human Resources, and broad Industry KnowledgeCoaching teams to deliver a modern, digital first service model focusing on client satisfactionProactively identifying opportunities to connect Financial Advisors and clients to the broader enterpriseManaging the daily operations ensuring compliance to industry regulations, and policies and proceduresManagerial Responsibilities:This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.Diversity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I goals.Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.Required skills:Candidates are
required
to currently hold Series 7 AND Series 66 (or Series 63 AND Series 65), Series 9 AND Series 10 (or Series 8) equivalent licensesMinimum 5+ years professional experience requiredCurrent or previous Merrill Wealth Management experience strongly preferredSelf-motivated and client centricExpert knowledge of regulatory and supervisory requirements and corporate policies and proceduresInvestment product knowledge (i.e., 401K, Options, Annuities, Tax, Retirement Plans, Money Funds, Mutual Funds, Liabilities, Margin, Trust Operations, etc.)Prior trend analysis experienceStrong customer service and communication skillsStrong management skills, including the ability to effectively plan, monitor, influence, negotiate, supervise and delegateDesired Skills:Compensation AnalysisPerformance ManagementProcess Performance ManagementReferral ManagementWorkforce PlanningDue DiligenceInternal Audit ReviewLeadership DevelopmentRecruitingRisk ManagementClient ManagementCustomer Service ManagementEmployee CounselingSuccession PlanningTrade Operations ManagementMinimum Education Requirement:
Bachelor's degree or equivalent work experienceShift:1st shift (United States of America)
Hours Per Week:40#J-18808-Ljbffr
The
Private Wealth Market Client Relationship Manager
(PWCRM) is a direct report to the Private Wealth Division Client Relationship Executive (DCRE) with dual reporting to the Merrill Private Wealth Management Regional Managing Director (RMD). The PWCRM functions as a member of the market leadership team. The PWCRM manages the Wealth Management Client Associates, Operations support staff, and the branch's Operations Department. The PWCRM is responsible for delivering firm strategy through the execution of the Market Strategy Plans. The PWCRM partners closely with advisor teams to deliver a branded client service model focusing on digital solutions and enterprise capabilities. Additionally, the MPWCRM serves as the Lead and Referral Coordinator for the market and manages the market expenses. The MPWCRM partners closely with the Senior Private Wealth Client Relationship Manager (SPWCRM) to support the ongoing development of the Elite Growth Practice roles, Private Wealth Management Client Associates, and the Operations staff.The ideal candidate is a team player and should possess strong coaching, relationship building, problem resolution and interpersonal skills. The position requires a high focus on supervisory and regulatory requirements, business management and retention. Candidates should have excellent leadership, process and organizational skills delivered with a highly effective interpersonal style. Strength and commitment around the Optimal Practice Model and the Client Experience Standard are critical. The candidate would be actively engaged in working with PWAs, Analysts, and CAs to deliver service models beyond expectations, display strong operational knowledge and be highly motivated to drive firm-wide initiatives such as Client Support Enhancer, SQA+, Client
Retention/Acquisition.Responsibilities include:Ensuring client service expectations are met and exceeded while balancing the risk and exposure for MerrillManaging the branch's Private Wealth Management Client Associates and Service Support StaffRepresenting the office and Merrill with clients, prospects, Financial Advisor recruits, vendors, regulators and outside legal counselRequires diversification and experience with Bank of America and Merrill Products & Services, Trend Analysis, Risk Assessment, Human Resources, and broad Industry KnowledgeCoaching teams to deliver a modern, digital first service model focusing on client satisfactionProactively identifying opportunities to connect Financial Advisors and clients to the broader enterpriseManaging the daily operations ensuring compliance to industry regulations, and policies and proceduresManagerial Responsibilities:This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.Diversity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I goals.Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.Required skills:Candidates are
required
to currently hold Series 7 AND Series 66 (or Series 63 AND Series 65), Series 9 AND Series 10 (or Series 8) equivalent licensesMinimum 5+ years professional experience requiredCurrent or previous Merrill Wealth Management experience strongly preferredSelf-motivated and client centricExpert knowledge of regulatory and supervisory requirements and corporate policies and proceduresInvestment product knowledge (i.e., 401K, Options, Annuities, Tax, Retirement Plans, Money Funds, Mutual Funds, Liabilities, Margin, Trust Operations, etc.)Prior trend analysis experienceStrong customer service and communication skillsStrong management skills, including the ability to effectively plan, monitor, influence, negotiate, supervise and delegateDesired Skills:Compensation AnalysisPerformance ManagementProcess Performance ManagementReferral ManagementWorkforce PlanningDue DiligenceInternal Audit ReviewLeadership DevelopmentRecruitingRisk ManagementClient ManagementCustomer Service ManagementEmployee CounselingSuccession PlanningTrade Operations ManagementMinimum Education Requirement:
Bachelor's degree or equivalent work experienceShift:1st shift (United States of America)
Hours Per Week:40#J-18808-Ljbffr