Function: Reviews all annuities and life insurance for completeness and suitability. Evaluates sales for pertinent information collected from the sales rep. Question any inappropriate documents via email or telephone and documents each sale with resolution of findings. In addition to approving new brokerage accounts for completeness and suitability, approves daily mutual fund, annuities, life insurance, 529’s, bond, UIT, Structured notes and CD trades for suitability. Review FA , AFA, sales assistant and trade desk email to identify issues. Communicates new procedures to the field as needed. Train newly licensed employees in procedures and paperwork.
1. Review annuities and life insurance for completeness and suitability.
2. Evaluate transaction activity with respect to breakpoints, appropriate share class and potential suspicious activity or other regulatory red flags.
3. Use independent judgment to analyze complex situations and make sound decisions that mitigate regulatory risks.
4. Approve daily mutual fund, bond, UIT, Structured notes and CD trades for suitability.
5. Review new accounts for suitability and completeness
6. Provide compliance training as necessary; trains newly licensed employees in procedures and paperwork.
7. Collaborate with department management to establish and maintain policies and procedures to ensure compliance with new and existing securities laws, rules and regulations
8. Other duties as assigned.
9. The Supervisory Principal position protects the clients, the reps and the bank; one must have great attention to detail. Multitasking is a must.
Must meet credit history and criminal background requirements associated with Financial Industry Regulatory Authority registration process, to include FBI fingerprint criminal history, review of credit report, civil litigation, liens, and other public records.
Bachelor's degree in management, finance, or other closely related field is preferred, along with two to four years’ experience in a Principal review desk position. Knowledge of state and federal securities laws, practices, and regulations in addition to strong analytical, communications and technical skills is required. Great attention for detail is a must. Ability to work under pressure in a fast paced environment. Proficient in Word and Excel. A series 7, 63, 24, and Life Insurance licenses are required. Series 53 is a plus. Passing the Series 53 exam within six months of accepting the position is required.