Bank of America Investment Manager - REQUIRED Series 7,66,9&10 (or equivalent) in Sacramento, California
The Administrative Manager position will serve to ensure regulatory compliance and corporate mandates for all administrative, sales, and operational activities performed by Field Financial Services Advisors (FSA), Banking Financial Advisors (BFA), and Senior Relationship Managers (SRM) in the Merrill Edge platform. This platform within the Financial Center Sales & Merrill Edge has a client base of over 613,000 with assets in excess of $21 billion. A predominate objective of the position is to limit risk and financial exposure to the business unit and the firm.
Specific Responsibilities include (but are not limited to) the following:
Use existing review form to complete semi-annual audits of each individual FSA/BFA/SRM location, ensuring compliance with all policies, procedures, settings and circumstances. Secondary locations are to be visited annually.
Review and respond to Sales Practice customer complaints received verbally or in writing for Merrill edge.
Assist in arbitration, legal matters.
Perform client contact, as necessary.
Control and review New Account Profiles for Option, Margin and Cash trading using EAO system.
Perform Active Account Reviews.
Review and maintain all Compliance and Regulatory Correspondence.
Provide market and non-market action decisions.
Prior review and approval of any sales seminars conducted by FSAs/BFAs.
Monitor and review Investor Profile changes.
Monitor accounts with large debit balances and short market values over $500,000 and coordinate approval with Credit Administration and clients.
Review Policy Settlements of a particular threshold to ensure settlements are within Firm Policy and Procedures.
Monitor and review large trades.
Review exception requests for Control Securities and coordinate with Field FSAs/BFAs.
Monitor and manage registration and licensing for FSAs/SRMs
Monitor and review client accounts for potential risk with regard to mutual fund trading, concentrated positions, and margin usage.
Review Compliance 1028 exception items for potential exposure, and ensure timely and appropriate follow-up.
Monitor all address changes submitted by clients and Field FSAs/BFAs/SRMs.
Manage projects / initiatives to improve sales supervision and risk management.
Required Skills: " MUST " have these skills to be minimally qualified.
Bachelors 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
Enterprise Role Overview
The Administrative Manager functions as a member of the leadership team, responsible for a wide variety of delegated compliance, supervisory, administrative and business functions. A primary objective of the position is to limit risk and financial exposure to the business unit and firm. This is accomplished by ensuring regulatory compliance and corporate mandates for all sales, administrative and operational activities performed by registered employees under their supervision. These activities include, but are not limited to, and may relate to home office, field based or both; resolve and respond to verbal customer sales practice complaints, assist in the resolution of written customer sales practice complaints, arbitration and other legal matters. Conduct suitability reviews and approve all new account submissions. Provide market and non-market action decisions. Monitor and review client accounts for potential risk with regard to mutual fund trading, concentrated position, active account reviews and margin, responding to all Risk Management System and Surveillance alerts generated for these and other activities. Conduct comprehensive reviews for all large trade, mutual fund switch and trades outside the investment process in accordance with established thresholds. Duties may include review recorded calls for suitability and contact clients on an as needed basis. Must have FINRA Series 7, 63, 65, and 9/10 to be considered for the role (in lieu of the 8 or 9/10 we could consider candidates holding all of the following registrations: 4, 24, and 53).
Posting Date : 07/25/2017
Location : US-CA-Sacramento, US-WA-Bellevue
Travel : Yes, 50% of the time
Full / Part-time : Full time
Hours Per Week : 40
Shift : 1st shift
Weekly Schedule : Monday - Friday, 8am - 5pm
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