Business Manager

Northbrook, Illinois

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**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 that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Merrill, we empower you to bring your whole self to work. We value the unique perspectives in our thoughts, business, and within our employees and clients. Our Wealth Management team represents an array of different skills and experiences that individuals bring from all backgrounds and careers; whether gained through military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

**Job Description:**

The 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. Helps manage the teams business plan and practice financials. Tracks progress with quantifiable business and activity goals and ensures team daily activities aligns with practice metrics, goals and objectives. Coordinates team assignments, projects and key initiatives, and ensures execution of teams 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 role is an FA Paid Resource. This position may be responsible for the provision of residential mortgage loans, and as such, is subject to SAFE Act registration requirements. Pursuant to the SAFE Act requirements, all employees engaged in residential mortgage loan 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. Failure to obtain and/or maintain SAFE Act registration may result in disciplinary action up to and including termination.

**Job** **Responsibilities:**

**Business Strategy & Execution**

+ Partner with Financial Advisors (FAs) and advisory teams to **develop, implement, and execute the team’s business plan** , ensuring alignment with growth objectives and firm priorities.

+ Translate strategic goals into **actionable initiatives, timelines, and performance metrics.**

+ Monitor business performance across key indicators (revenue growth, asset flows, client acquisition, etc.) and **adjust strategies to drive results.**

**Practice Management & Financial Oversight**

+ Manage and track **practice financials** , including revenue, expenses, profitability, and budgeting processes.

+ Provide insights and report to FAs on **business performance, trends, and opportunities for growth or efficiency**

+ Support resource allocation and capacity planning to optimize team productivity.

**Performance Tracking & Analytics**

+ Establish and maintain **quantifiable business and activity goals** aligned with firm and team objectives.

+ Analyze data to **identify trends, root causes, and business opportunities.**

+ Develop reporting dashboards and cadence of reviews to ensure **accountability and progress tracking.**

**Client Experience & Service Strategy**

+ Oversee execution of the team’s **client service model and experience strategy.**

+ Ensure consistent delivery of a **high-quality, personalized client experience** across all touchpoints.

+ Identify opportunities to enhance client engagement, retention, and satisfaction.

**Team Coordination & Leadership Support**

+ Coordinate **team assignments, workflow, and key initiatives** to ensure efficient execution

+ Act as a central point of organization for projects, ensuring **timely delivery and cross-functional alignment**

+ Provide leadership support through **delegation, communication, and prioritization of team activities**

**Product & Platform Expertise**

+ Maintain deep knowledge of **wealth management products, services, and platforms** , including investments, banking, lending, and mortgage solutions

+ Support FAs and clients with **appropriate product positioning and solutions alignment**

+ Act as a subject matter resource on firm offerings and capabilities

**Risk Management & Compliance**

+ Ensure adherence to **regulatory requirements, firm policies, and supervisory procedures**

+ Proactively identify and mitigate **operational, compliance, and business risks**

+ Support SAFE Act requirements and maintain required registrations and licensing standards

**Cross-Functional Collaboration & Influence**

+ Collaborate with internal partners (e.g., banking, lending, operations, compliance, marketing) to **deliver integrated client solutions**

+ Influence outcomes and drive decisions **without direct authority** , using strong communication and relationship management skills.

**Required Qualifications:**

+ Series 7, 63/65 or 66 or equivalent; must obtain all state registrations held by the Financial Advisor(s) and Advisor Team(s) they support

+ SAFE Act Registration; ADV-2B Required

+ Obtain and/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

+ 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

**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

**Shift:**

1st shift (United States of America)

**Hours Per Week:**

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

View your **"Know your Rights (https://www.eeoc.gov/sites/default/files/2023-06/22-088\_EEOC\_KnowYourRights6.12.pdf) "** poster.

**View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notic...) .**

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

Bank of America 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. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank’s required accommodation request process before your first day of work.

This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.