Purpose of Job:
The primary objective of this position is to keep the business safe by conducting ongoing supervisory activities to a high standard, identifying potential issues and concerns and ensuring appropriate corrective actions are implemented in a timely manner. The Branch Supervision Manager works closely with the Branch Managers in order to fulfil sales supervisory functions.
The role is also accountable to provide guidance, support, leadership and training to all advisors, Branch Managers and Assistants as it relates to sales supervision.
Ensure compliance with corporate policies and industry regulatory bodies by:
- Performing Tier 1 Supervision of advisors for assigned branches in accordance with industry regulations and firm policies and procedures:
- Conducting daily trade reviews for all transactions performed by assigned Branches within one business day of tradedate
- Conduct monthly client account reviews for all client accounts that generated $1,500 or more in commissions during the previous month
- Proactively identify, through daily and monthly trade reviews, potential and actual compliance issues and concerns, conduct the necessary follow-up inquiries and reviews, and ensure that appropriate corrective actions are implemented in a timely manner
- Ensuring adherence to; large order policy, anti-money-laundering / anti-terrorism financing requirements, security concentration rules, registration requirements, trade correction protocols, and commission discounting guidelines through review and approval of trades and account maintenance and servicing activities
- Conducting periodic branch visits to review branch practices and offer solutions
- Prepare branch reports of findings and follow up for resolution of deficiencies
- Approving KYC updates and new accounts, cancel and amend requests, branch level draft and third party deposit on behalf of their assigned branches.
- Review and ensure the Branch Staff Survey is updated at least annually and centralized
- Staying informed regarding industry trends and issues
- Ensuring compliance policies and procedures are followed and put into practice
- Reviewing and following up on all head office corporate audits to ensure compliance and attention to deficiencies. Assist as required in providing responses back to head office including findings from compliance department reviews.
- Ensuring appropriate internal controls are in place and functional
- Proactively identifying and implementing any process and procedural improvements
- As required and at least twice a year conduct update meetings with Branch Managers for Branches under supervision Training Advisors and Support Staff on new and existing applicable policies and procedures
- Ensuring that appropriate corrective actions are implemented in a timely manner
- Ensuring proper maintenance of evidence of supervisory reviews, approvals and activities, such as inquiries made, replies received, actions taken, date of completion, etc.
- Liaising with the Compliance Department, identifying patterns and on-going concerns to be addressed through training initiatives
- Facilitating an escalation process for Advisors, and for other issues and concerns, with applicable departments and service teams
- Act as back-up and consultant for email surveillance queries and reviews media monitoring to firm standards and regulatory requirements
- Responsible for the Trade Error account as it relates to control, cost allocation.
Develop and maintain value-added, on-going relationships with Advisors by:
- Building relationships with Advisors to help them find solutions to their issues and concerns
- Assisting advisors in understanding and implementing compliance rules in their business
- Working with the Regional Directors and Branch Management to strengthen relationships with Advisors, by assessing their needs and providing information to assist with their business
- Working with Advisors when new policies are introduced to ensure their understanding of them
Manage the quality and efficiency of branch operations by:
- Resolving and responding to risks that arise on a daily basis in a timely manner
- Answering questions surrounding applicable Company products and services
- Communicating new policies and procedures to the branch’s support staff and advisors to ensure all lines of business work together to help advisors grow
- Facilitating effective communication between Advisors, other departments and Head Office
- As requested, conduct meetings with Advisors and branch support staff
- Contributing to the on-going development of policies and procedures
- Using effective time management skills to prioritize completion of tasks and issues
- Minimum 5 to 10 years experience in the financial services industry, with some branch and sales management experience and accomplishments.
- Strong understanding of, and experience in, general management concepts, i.e. finance, human resources, marketing, sales, compliance, operations
- Proficient in MS Office (outlook, word, access, excel).
- Commitment to on-going industry education and CE requirements to remain registered
EDUCATION AND ACCREDITATIONS
- Related university degree or experience
- Canadian Securities Course (CSC)
- Branch Managers Course, Effective Management Seminar
- Conduct and Practices Handbook (CPH)
- Must be able to be licensed in a Supervisory capacity of Registered Representatives
- Must complete Options Licensing and Option Supervisory subsequent to job posting, if not already obtained.
Requisition ID: 20815