EVP, Supervision

About LPL Financial

At LPL Financial, our purpose is to support financial advisors—whether they work as independent business owners, with an RIA firm, or in a financial institution—so they may deliver great advice and run a thriving business.

We provide the investment solutions, technology platforms, resources, and services to enable all financial professionals to choose the business model that suits their needs and deliver an exceptional experience for their clients.

Background on the Opportunity

Are you a transformer who loves to deliver extraordinary client experiences while effectively managing risk?  Do you want to be at the forefront of building an industry-defining support and supervision model for the wealth management industry?

LPL is on a journey to transform our supervision model with our 26,000+ affiliated financial advisors and their 1000+ associated field OSJ Managers, spread across over 10,000 wealth management practices and 1,000+ financial institution wealth programs within banks, credit unions, and product manufacturers – all of whom partner with us to support their wealth management businesses.    

In Supervision, our mission is to enable our clients to grow and thrive while protecting their practices, and the firm, from regulatory and reputational risk.  We deliver on this mission through  providing:  day-to-day oversight of the sales practices and conduct of our affiliated advisors and staff, and of the quality of the supervision performed by all field OSJ managers; management of strong, flexible and resilient supervisory control frameworks across all relevant product and risk domains; administration of the regulatory registrations and licensing activities of the firm; and service and support through our Compliance Service Center (call center function) and proactive, consultative engagements from a team of regional supervisory principals dedicated to each practice. 

Specifics on the Role

To lead these efforts, we are seeking an EVP, Head of Supervision.  In addition to day-to-day oversight of all functions and activities described above, this leader will be primarily accountable for transforming our offering across five key areas:

• Supervisory Controls Management
• Optimization of Processes & Review Tasks
• Proactive Engagements
• OSJ & Affiliation Model Strategies
• Forecasting, Capacity Planning, and Large Conversion Due Diligence & Readiness

The role will report to the head of Service and Supervision, will directly manage 4-5 direct reports and oversee a team of approximately 700 FTE, as well as have key influence and partnership with Compliance, Risk, Legal, and multiple areas of the business, as well as our regulators. 

The role can be based in our Fort Mill, SC (Charlotte Metro), San Diego, CA, or New York City offices.  Relocation assistance is available.  The role is a hybrid role with work to be performed in the office at least 4 days per week, with travel to other office/team, client locations, and client conferences and events amounting to 15-20% of the time.

Deliverables & Outcomes

• Evolving supervisory control frameworks that are efficient and effective to maintain compliance with regulatory expectations and facilitate client growth and success
• Optimizing processes and review tasks to drive increased efficiency and effectiveness serving to remove friction for clients, improve risk mitigation, and lower the cost to serve advisors – including through use of business process outsourcing strategies, automation and digital transformation
• Enhancing the program for proactive, consultative supervisory engagements to prevent risk issues and ensure the health of advisor practices from a risk and regulatory perspective while helping to enable their growth
• Evolving our approach to overseeing and supporting Field OSJ Managers to ensure they have the tools to effectively perform their duties, and evolving our coverage to various affiliation models to ensure the supervision is tailored to business needs and attendant risks
• Modernizing our approach to due diligence and readiness processes for mergers, acquisitions and large conversions – inclusive of improved forecasting and capacity planning to remain nimble and adaptive to various market environments and events
• Ultimate measures of success include improving Supervision’s Net Promoter Score (NPS), lowering cost-to-serve, ensuring strong health ratings for the various sales practice and advisor conduct control frameworks and that compliance risk is managed within appetite, and improving employee experience

Qualifications we are seeking

The ideal candidate has 15+ years in financial services, with 10+ years as an executive in wealth management with responsibility for supervision, compliance, risk management, legal, product or field-facing business lines

• Strong business acumen combined with knowledge of the regulatory control environments and expectations for leading wealth management firms including knowledge of broker-dealer, investment adviser, capital markets and investment product-related laws, rules, regulations and emerging issues
• Ability to provide vision, establish direction and build commitment around that direction across the organization
• Strong strategy skills through exposure to business challenges, combined with a willingness to think boldly and challenge the status quo
• Problem solving skills that enable efficient identification of issues; structuring and execution of analysis; development of actionable recommendations; and implementation of those recommendations
• Change leadership excellence and experience to include LEAN principles and experience in process re-engineering, new technology deployments, and digital transformation
• Ability to leverage others’ expertise and experience in identifying, evaluating and evolving customer needs
• Proven framework for the metrics, processes, talent and culture needed to delight customers and stakeholders at scale
• Combination of strategic transformational leadership with the ability to execute and remain appropriately hands-on
• Strong executive presence that leads to effective communication of the organization’s strategic roadmap and delivery of presentations at multiple levels – to employees, clients, peers, executives, regulators and the Board of Directors
• FINRA Series 7 and 24 required

Pay Range:

300,000-500,000/year
 Actual base salary varies based on factors, including but not limited to, relevant skill, prior experience, education, base salary of internal peers, demonstrated performance, and geographic location. Additionally, LPL Total Rewards package is highly competitive, designed to support your success at work, at home, and at play – such as 401K matching, health benefits, employee stock options, paid time off, volunteer time off, and more. Your recruiter will be happy to discuss all that LPL has to offer!
 

Company Overview:

LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that the firm should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 registered investment advisor ("RIA") firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional.

At LPL, independence means that advisors and institution leaders have the freedom they deserve to choose the business model, services, and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors and institutions, so they can take care of their clients.

Join LPL Financial: Where Your Potential Meets Opportunity

At LPL Financial, we believe that everyone deserves objective financial guidance. As the nation’s leading independent broker-dealer, we offer an integrated platform of cutting-edge technology, brokerage, and investment advisor services.

Why LPL?

• Innovative Environment: We foster creativity and growth, providing a supportive and responsive leadership team. Learn more about our leadership team here!

• Limitless Career Potential: Your career at LPL has no limits, only amazing potential. Learn more about our careers here!

• Unified Mission: We are one team on one mission—taking care of our advisors so they can take care of their clients. Learn more about our mission and values here!

• Impactful Work: Our size is just right for you to make a real impact. Learn more here!

• Commitment to Equality: We support workplace equality and embrace diverse perspectives and backgrounds. Learn more here!

• Community Focus: We care for our communities and encourage our employees to do the same. Learn more here!

• Benefits and Total Rewards: Our Total Rewards package goes beyond just compensation and insurance. It includes a mix of traditional and unique benefits, perks, and resources designed to enhance your life both at work and at home. Learn more here!

Join the LPL team and help us make a difference by turning life’s aspirations into financial realities. Please log in or create an account to apply to this position. Principals only. EOE.

Information on Interviews:

LPL will only communicate with a job applicant directly from an @lplfinancial.com email address and will never conduct an interview online or in a chatroom forum.  During an interview, LPL will not request any form of payment from the applicant, or information regarding an applicant’s bank or credit card.  Should you have any questions regarding the application process, please contact LPL’s Human Resources Solutions Center at (855) 575-6947.

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