Retail Client Account Service Manager
To bring leadership, oversight and accountability to the Retail Client Account Services department; ensuring that operational work is accurately and efficiently processed while servicing clients and protecting the firm from financial loss and liability.
Duties and Responsibilities
1. Manages staff. Provides guidance, training and motivation as necessary to develop staff. Hires, evaluates and counsels crew. Follows corporate disciplinary procedures per established Vanguard standards as required. Sets performance standards, reviews performance, provides feedback, and recommends wage increases in accordance with all applicable Human Resources policies and procedures.
2. Develops long and short term goals and objectives for the unit to meet current and future business needs. Develops and implements operational strategies around items such as administrative procedures, service levels, and quality. Analyzes costs impacting operational decisions and develops cost effective solutions to operational issues. Maintains and keeps current departmental procedural manual.
3. Reviews applicable current and future regulatory requirements in order to ensure effective Written Supervisory Procedures (WSPs) are in place. Enhances procedures commensurate with changes in market regulation. Utilizes the necessary FINRA securities licenses, acts as the Registered Principal Responsible for WSPs to make sure they are updated and followed. As necessary, works with those regulatory agencies who requires additional insight from Vanguard.
4. Collaborates with internal business partners to establish audit and control functions in accordance with Vanguard policies and procedures. Understands, reviews, and is responsible for developing and managing necessary processes to ensure that work is handled in a way that mitigates risk and protects the integrity of Vanguard and its clients.
5. Leads, manages and participates in appropriate compliance oversight of appropriate processes that protect Vanguard’s reputation. Utilizes risk management awareness to work with VMC Compliance and Retail Control to develop, maintain, test, implement, and supervise policies and procedures. Must understand the regulatory environment related to our Transfer Agency and Broker Dealer and appropriately make decisions regarding the workflows within both.
6. Manages business processes and functions to ensure business objectives are met while ensuring it’s done in compliance with SEC and FINRA rules and regulations. Provides second-level interpretation of SEC and FINRA rules and regulations. This includes all aspects of change management, legal and compliance issues, client service, operations interfaces with legacy systems, workflow and procedures, testing requirements, reporting, budget and benefits measurement.
7. Uses Vanguard Unmatchable Excellence (VUE) methods and tools while working with internal teams to analyze work processes and quality issues. Designs and develops the most efficient, cost-effective and flexible methods without impacting Vanguard quality and services. Focuses on continuous process improvement by reviewing items such as departmental activities and technological innovations. Participates in and leads VUE initiatives and projects.
8. Develops close working relationships with all appropriate internal (e.g. Service Recovery) and external(e.g. Flagship, Retail Services, BDG, Internal Audit) stakeholders to meet Vanguard service level commitments. Initiates and manages workflow changes to ensure the highest level of service in terms of quality and timeliness, while also reducing the risk to serve our clients.
9. Adheres to and possesses a strong understanding of Vanguard policies, Code of Ethics, departmental and processing procedures, and legal requirements. Provides accurate, complete, and value-added information. Maintains complete client information confidentiality.
10. Participates in development of periodic business plans, budgets and priority setting. Analyzes departmental statistics and prepares management reports. Uses available data to monitor problems and measure success.
11. Participates in special projects and performs other duties as assigned.
- Undergraduate degree or equivalent experience required. Graduate degree preferred.
- Minimum five years general experience and five years industry experience.
- Management/supervisory experience.
- FINRA Series 7, 24 and 63 required or the ability to obtain within department guidelines.
- Exceptional client relationship, leadership, organizational and interpersonal skills.
- Excellent verbal and written communication skills.
- Excellent analytical, problem solving and project management skills.
- Strong knowledge of Vanguard funds and broker/dealer operations preferred, including understanding of SEC/FINRA rules and regulations.
- Ability to work quickly and independently with attention to detail and sensitivity to deadlines.
- Demonstrated proficiency related to understanding control functions and reconciliation preferred.
- Strong PC skills (Microsoft Office).
Vanguard is not offering visa sponsorship for this position.
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