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Bank of America Corporation and Merrill Lynch & Co., Inc. have officially joined forces, creating a leading banking and wealth management franchise and premier corporate and investment banking and capital markets businesses.
Our corporate cultures share a strong emphasis on making clients our first priority. Our global company, with a deep and diverse array of businesses, is uniquely positioned to offer a much broader choice of leading solutions, products and services to companies, individuals, institutions and governments around the world.
Up to VP, Branch Admin Manager (Singapore), Global Wealth and Investment Management
Job Description
The Admin Manager is a member of the Branch Office Management Team and is primarily responsible for the onsite supervision of the office and ensuring that all sales activities are appropriately and effectively supervised.
· The role reports to the Complex Admin Manager and is a key member of the respective Branch Admin team and broader Branch Office Management Team
· The incumbent works with the Office Management Team and the Centralized Business Review Unit (“CBRU”) to ensure that business is conducted within guidelines set by the firm and is compliant with the regulatory framework applicable to the office.
· The incumbent works with Regional Management and support groups and Branch Office Management Team to develop and implement strategic plans for the office.
Responsibilities
1. Manage all onsite compliance, legal and regulatory functions in the office.
* Key business representative which drives office compliance with ML policies and procedures and local regulations. Implement and update the office on policies and procedures as required.
* Conduct annual compliance and know your customer (KYC)/money laundering meetings and training including the review of the Compliance Outline with new hires. Periodically update the office on sales practices and compliance concerns.
* Review EARS, OIQ submissions and maintain the office’s quarterly and annual attestations and OMT Delegation Memo.
* Support Compliance, Corporate Audit and local regulatory visitations and coordinate the resolution of control issues.
2. Supervise FA and client activity with emphasis on client account due diligence and suitability.
* Manage new account approvals and due diligence including conducting client interviews where required.
* Ensure adequate awareness and compliance with anti-money laundering requirements by all staff in the office.
* Work with the CBRU on the investigation and resolution of issues highlighted on daily, weekly, monthly control/compliance reports.
* Manage the monthly account activity process in conjunction with the CBRU and performs client contact as required for all account types.
* Approve non-sales related correspondences and review incoming and outgoing mail and fax correspondences
3. Manage and monitor the Process Risk Structure of the office
* Oversee and maintain the office’s risk control self-assessments on a regular basis. Ensure that action plans are accomplished and updated on the Operational Risk Management (self assessment) system on a timely basis
* Ensure that key issues and significant items are addressed and escalated to Regional Management.
* Coordinate and ensure that the office’s Business Continuity Plan (“BCP”) plans are in place and maintained in accordance with ML Policy.
4. Participate in and promote the integration of the firm and office business initiatives.
5. Succession Planning and Training of team members, where applicable.
Requirements
* Good knowledge of controls and industry best practices
* Strong understand of local securities industry or banking regulations
* Required industry qualifications
* Finance related degree and possible other post graduate education (CFA, CPA, ACA) and/or NASD Series 7,9 & 10 would be an advantage
* Strong knowledge of global investment and banking products
* Effective English oral and written skills, second language would be an advantage
* Interpersonal and communicative skills exercised across different cultural sensitivities.
* Analytical mind and a recognized ability to focus on, and deliver, improved business results
* Strong sense of business priorities
* High energy results driven candidate who combines business perspective with financial acumen, strategic thinking and strong operational skills
* Personal computer and workstation skills