Business Control Manager

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.

Job Description:

 

The Merrill Supervision and Controls organization supports the Firm's objectives by influencing business practices in ways that support responsible growth including growing within our risk framework in a sustainable, client-focused manner.

 

Merrill Business Controls is responsible for a wide variety of oversight and leadership functions associated with Risk Framework elements (e.g., Single Process Inventory, Key Risk Indicators and Risk Appetite), issues management, Regulatory Engagement, as well as governance routines (e.g., Product, Client Selection and Business Risk).

 

The position is on the Regulatory Engagement team.

This job is responsible for leading and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include executing LOB or ECF processes and tools to drive adherence to enterprise-wide standards. Job expectations include supporting the implementation of quality assurance and quality control processes within the LOB or ECF through ongoing monitoring and testing of controls, identifying issues and control improvements for remediation, and building out actions plans and milestones.

 

Job Responsibilities:

 

This individual will drive Regulatory Training (working with SMEs to develop required regulatory continuing education content, conducting annual FINRA required training needs analysis and submitting NASAA completion reporting), Regulatory Exams (working with regulators on exams/routines), and Regulatory Change (converting to new intake technology and oversight of portfolio)

The individual will also drive progress and identify areas to streamline and improve the quality of processes.

 

• Leads the assessment of the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards
• Performs monitoring and testing of controls, identifying issues and control improvements for remediation
• Leads the implementation of optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts
• Manages the performance and productivity of team members that conduct quality inspection reviews
• Ensures timely execution of QA activities including control execution, case management, and results reporting
• Manages and reviews all operations front line unit responses for regulatory exams, internal audits, and other monitoring and inspection reviews
• Ensures accuracy of data and that relevant information is captured for inspection metrics to support governance for dashboard reporting

 

• Opportunity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company Great Place to Work 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:

 

5-10 years of relevant experience in a large, fast-paced, results oriented company, in a role supporting product management, risk management or business controls/governance.

 

Proven record of multi-tasking, including successfully delivering on multiple key initiatives within the same timeframes.

 

Desired Skills:

 

• Working knowledge of the Merrill Wealth Management business and understanding of the products and processes across GWIM
• Ability to work with others to drive progress
• Prior experience with Risk Framework, Single Process Inventory, Governance and/or Regulatory process
• Experience in effectively interacting with stakeholders across the first, second and third lines
• Strong project management and organizational skills
• Self-motivated and strong ability to work autonomously
• Ability to grasp new concepts in short timeframes
• Attention to detail with excellent written and verbal communication skills
• Must be able to adapt to a fast paced/changing environment; flexible to balance multiple needs and competing priorities; and comfortable working with ambiguity
• Bachelor’s Degree
• Controls Management
• Risk Management
• Stakeholder Management
• Strategy Planning and Development
• Continuous Improvement
• Influence
• Strategic Thinking
• Data and Trend Analysis
• Decision Making
• Monitoring, Surveillance, and Testing
• Problem Solving
• Quality Assurance

 

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.

 

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 - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100), US - NJ - Pennington - 1600 American Blvd - Hopewell Bldg 6 (NJ2600), US - NY - New York - 225 LIBERTY ST (NY3002)

Pay and benefits information

Pay range

$108,700.00 - $165,600.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This 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.

Benefits

This 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.