Branch Operations Manager

Branch Operations ManagerBranch Operations ManagerA branch operations manager is the subordinate of a branch manager who is delegated responsibility for all aspects of the offices technical and physical infrastructure, often including the supervision of all support staff. Branch operations managers have varied backgrounds. They may have expertise in back-office operations, information technology, or other fields. Responsibilities A branch operations manager has responsibility for ensuring that financial advisors, sales assistants, and other branch office staff have the tools and infrastructure to perform their jobsand that this infrastructure is kept in working order. This infrastructure includes, but is notlage limited to CommunicationsWorkstationsPCsCopiers, fax machines, etc.PowerHeating, ventilation and air conditioning (HVAC)Building maintenanceFurnitureReal estate operationsMailroom operationsCashier operations Branch operations managers also play an important liaison role with the central IT and operations organizations, assisting financial advisors and sales assistants with problems that they cannot resolve on their own. Depending on the structure of the firm, branch operations managers may or may not have either solid-line (primary) or dotted-line (secondary) reporting relationships to the central operations area of the firm. Compensation Branch operations managers are paid salary and bonus. The bonus may be tied partly to overall branch results, or it may not. Career Progression Depending on the structure of the firm, the next logical step up for a branch operations manager might be as the supervisor of operations for a larger or more prestigious office, or for a larger aggregation of offices within the firms branch office hierarchy, such as an office complex or a sales region. As a result, a willingness to relocate often is required to facilitate career advancement. Relocation also may be necessary as a result of the closure of underperfo rming offices and the opening of new offices in geographic regions with sales growth or anticipated sales growth. Lastly, since experienced branch operations personnel are in demand throughout the securities brokerage industry, many opportunities to advance by changing firms also exist. There also are chances for advancement by exiting branch operations management entirely. For example, one might have built the skill set necessary to win a promotion into a spot within the central operations or information technology organizations of the firm. Alternatively, the firsthand knowledge of workflows and processes that have been gained by an experienced branch operations manager can prove to be invaluable for financial management organizations that are involved in management reporting and transfer pricing. For example, at Merrill Lynch, when the retail product profitability group made a significant push to upgrade its methodologies in the early 1990s and expand the knowledge base of its st aff, its manager actively recruited experienced operations professionals to vastly increase the sophistication with which expenses were analyzed and allocated.