Call David Tobin @: 212-279-7777
Or e-mail me @: DavidT@bachrachgrou
Job Title: Branch Administrative Manager
Corporate Title: Director
Base Salary: $165-$180K [total compensation to $250K]
Location: New York City [mid-town] there is not a relocation package for this role
GENERAL SUMMARY
Responsible for working in conjunction with Regional Manager in fulfilling the supervisory requirements of the Private Banking (USA) branch office. Responsible for performing supervisory reviews of the branch office's sales practices required by regulatory authorities and firm policies.
ESSENTIAL DUTIES AND RESPONSIBILITIES
1. Responsible for actively monitoring and supervising registered representatives in respective branch office
2. Oversees approval of new accounts and the ongoing review of suitability of customer account activity.
3. Monitors and reviews all daily trading for areas including excessive trading, day trading, short sales, speculation in low priced securities, unauthorized use of discretion, inappropriate use of margin, options approvals, uncovered option trading, concentrations, mutual fund activity, security blue sky issues.
4. Reviews menu of daily, weekly and monthly surveillance reports and conducts follow up reviews as deemed necessary
5. Monitors for compliance with new issue rules and sales of control and restricted securities.
6. Coordinates with Compliance Department on handling customer complaints and regulatory inquiries.
7. Monitors and reviews misuse of inside information and rumors
8. Manages relationships with regulatory examiners and internal audit teams.
9. Works in coordination with Compliance Department in the delivery of formal training and interpretation of rules and regulations
10. Monitors employee trading, including conflicts with customers
11. Reviews all branch correspondence, including a sample of email correspondence.
12. Advises the technology group regarding requirements for compliance processes/systems
13. Maintains current knowledge of applicable laws and regulations by attending industry and professional meetings and seminars
OTHER DUTIES AND RESPONSIBILITIES
May perform other duties and responsibilities that management may deem necessary from time to time.
MANAGEMENT/SUPERVIS
May manage Group/Section Managers at the Vice President and/or Assistant Vice President level. Responsibilities include training, planning, assigning and directing work; appraising performance; rewarding and disciplining associates; addressing complaints and resolving problems.
QUALIFICATIONS
To perform this job successfully an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
EDUCATION and/or EXPERIENCE
Bachelor's degree; 7-10 years industry experience; Series 7 and 8 (or 9 & 10) Certification.
BUSINESS COMPETENCIES
1. Knowledge of financial services industry
2. Knowledge of industry rules and regulations
3. Knowledge of clearing, custody, execution
4. Knowledge of private banking products and services
5. Ability to think strategically and develop an understanding of the needs and styles of businesses supported
6. Ability to interface with all levels of Management
7. Ability to work independently
8. Excellent teamwork, interpersonal and conflict resolution skills
9. Excellent Project Management skills
10. Ability to effectively prioritize and multi-task in a high-stress, high-pressure environment
11. Exceptional written, verbal communication and platform presentation skills
12. Familiarity with Pershing clearing/settlement systems a plus
13. Excellent understanding of risk management concepts and their application
14. Ability to develop new risk management tools
15. Proficient in Microsoft Office (Word) and familiarity with other Microsoft Office applications
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