Senior Business Manager

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.

The Senior Business Manager role is a key contributor to a Financial Advisor team in creating strategy and ensuring execution related to multiple metrics and priorities across the teams business plan and goal deliverables. Develops and manages the teams business plan and practice financials. Manages and drives complex financial- related initiatives to include: pricing strategy, profitability compared to revenue and time capacity. Interfaces with market and division leaders to ensure team strategy and initiatives support overall division market strategies and goals. Tracks progress with quantifiable business and activity goals and ensures team daily activities aligns with practice metrics, goals and objectives. Manages diverse administrative functions to include personnel processes and performance monitoring and coordination of team assignments, projects and key initiatives, and overall team client service strategy. Requires a thorough knowledge of the Merrill Lynch Wealth Management business functional area and products. Requires a working knowledge of general bank policies, programs and procedures and financial/accounting practices.
This position is subject to SAFE Act registration requirements. Pursuant to the SAFE Act requirements, all employees engaged in residential loan mortgage originations must register with the federal registry system and remain in good standing. Since this position requires SAFE Act registration, employees are required to register and to submit to the required SAFE Act background check and registration process. Failure to obtain and/or maintain SAFE Act registration may result in disciplinary action up to and including termination.

Role Responsibilities

• Create a business plan that translates practice vision into goals and regularly monitor and update as needed Provide leadership around team structure to deliver on the team's vision, goals, and business plan
• Establish and align practice operations to strategic vision
• Conduct team meetings to drive business plan execution
• Establish a pricing strategy aligned to the team's vision and ensures profitability of practice
• Define and communicate clear team roles and responsibilities
• Serve as a main point of contact, in partnership with office management team and HR/supervision, for HR, comp, operations and compliance related issues
• Coordinate work assignments across team to ensure completion
• Own the overall body of work for the team, delegating work assignments, monitoring for quality and completion and managing junior team members as needed
• Oversee execution of client service strategy and client review processes
• Serve as decision maker and team leader when senior advisors are unavailable
• Identify areas of opportunity to leverage specialists to maximize the team's capabilities in delivering the optimal client experience
• Establish budget and manage expenses regularly to include Business Development Account (BDA)
• Manage team compensation and incentives, including FA pools and splits as well as support staff compensation
• Lead the sourcing, assessing, hiring, and onboarding of new talent; and the off boarding of transitioning talent
• Regularly evaluate financial "health" of practice and work with equity partners to discuss any changes

Role Requirements

• Either Series 7 and 66 licenses or Series 7, 63, and 65 licenses; must obtain all state registrations held by the Financial Advisor(s) and Advisor Team(s) they support
• SAFE ACT Registration
• Individuals in this role are required to maintain a Form ADV -2B, which provides clients details on individuals experience and educational background, along with other requirements governed by the U.S. Securities and Exchange Commission (“SEC”)
• MBA preferred or maintain at least one firm approved designation
• Strong leadership abilities, communication and delegation skills
• Understanding of how to deliver a strong overall client experience
• Thorough knowledge and understanding of the suite of Wealth Management products and services
• Proven ability to manage risk and make sound decisions by having a deep understanding of industry regulations, supervisory requirements, and policies/procedures
• Ability to identify client needs and concerns, and articulate appropriate approach to align 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 increase growth and mitigate risk
• Ability to influence and demonstrate strong and effective leadership through clear communication and collaboration with other partners to make sound decisions with courage and conviction; demonstrated ability to influence to the desired outcome, without direct authority
• Minimum of 5 years’ experience performing specialist/analyst level responsibilities or equivalent industry experience

Skills:

• Administrative Services
• Customer Experience Improvement
• Project Management
• Sales Performance Management
• Strategy Planning and Development
• Business Acumen
• Business Analytics
• Candidate Screening
• Coaching
• Continuous Improvement
• Account Management
• Process Simplification
• Reporting

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

The following laws or regulations restrict or prohibit the hiring of individuals with certain specified criminal history for the position: FDIC; FINRA.

Shift:

Hours Per Week: