Wealth Supervisory Control Manager (Principal Review)

The Wealth Supervisory Control Manager provides oversight to a team responsible for reviewing and approving various financial transactions, accounts, and activities, ensuring compliance with regulatory standards and internal policies, by meticulously examining documentation and identifying potential risks, while providing guidance to team members on complex cases and maintaining a high level of quality control within the principal review function.    

Job requirements 

The incumbent is responsible for risk management and compliance, which consists of the development and implementation of risk management strategies and procedures to ensure compliance with regulatory requirements and internal policies.  Additionally, the incumbent is responsible for financial control and reporting, operational oversight, and internal audit and control testing.  Lastly, the manager is responsible for stakeholder communication and collaboration. 

Key responsibilities may include: 

• Compliance Oversight: Leading the team in reviewing and approving transactions, new account openings, margin applications, options trades, and other activities requiring principal approval to ensure adherence to FINRA, SEC, and other regulatory requirements.  

• Team Management: Supervising a team of Principal Review specialists, assigning tasks, providing training, coaching, and performance evaluations to maintain high standards of accuracy and efficiency.  

• Risk Assessment: Identifying potential compliance risks within transactions and accounts, escalating issues to relevant departments for further investigation and corrective action.  

• Policy Interpretation: Interpreting firm policies and procedures related to principal approvals, ensuring consistent application across the team.  

• Regulatory Reporting: Maintaining accurate records of review activities and preparing reports for regulatory examinations as needed.  

• Stakeholder Communication: 

• Collaborating with other departments like sales, and compliance to address issues, clarify guidelines, and ensure smooth operations.  

 Qualifications: 

• In-depth knowledge of securities industry regulations, including FINRA rules, suitability guidelines, and anti-money laundering regulations. 

• Minimum of 6 years of industry experience in compliance or supervision is required. 

• Series 7, Series 66 (or Series 63 and Series 65) and Series 24 (or Series 9/10) licensure required. 

• Ability to lead and motivate a team, provide effective feedback and coaching to staff. 

• Insurance licensure and Series 4 preferred. 

• Strong verbal and written communication skills  

• Strong organizational and teamwork skills.