Suitability Principal

The Opportunity

As a Suitability Principal, you will be responsible for conducting back-office suitability reviews and firm-acceptance for accounts clearing through National Financial Services (NFS). You will also be responsible for the review and acceptance of money movement, transfers, and account maintenance transactions. You will demonstrate a strong penchant for leadership and coaching. In this role, as well as all roles within MassMutual, you will demonstrate accountability, agility, a dedication to be inclusive, a strong business acumen, and will show courage, even in the most difficult situations. We also highly value strong communication skills, a passion for learning, leadership traits, resilience, and self-awareness.

The Team

MML Investors Services (MMLIS) Cashiering department reviews and processes brokerage and advisory transfers in a timely manner to facilitate the movement of customer funds in and out of our brokerage accounts held with National Financial Services (NFS); including depositing and withdrawing of funds. Further, the team handles the setup and modifications of money movement investment and withdrawal plans. We provide guidance and education to field reps on requirements and regulations regarding money movement and communicate frequently with National Financial Services. The team also works closely with the Transfer of Assets, Advisory, New Business and Trading teams within MMLIS.

The Impact

As an InForce Business Acceptance Consultant you will effectively communicate with registered representatives, agency personnel, and internal business partners such as Compliance, Field Inspection, and Regional Supervisory Directors and provide guidance on money movement suitability, introducing broker/dealer and clearing firm money movement requirements and policies, and navigating margin related money movement matters (e.g., guarantee of funds). Additionally, you will be involved daily in complex problem resolution requiring higher level critical thinking, including the occasional policy exception review. As a registered principal, you may be asked to temporarily step into the role of another department’s Business Acceptance Consultant, requiring the general knowledge of non-Cashiering related duties.  

Key responsibilities will include:

• Conduct back-office review and firm-acceptance of Broker Dealer business submissions including Corporate RIA accounts, Brokerage accounts, Options accounts, 529 plans, money movement, transfers, and account maintenance.
• Handle the review of death and divorce related transfers between accounts, federal wire disbursements, international money movement, restriction removals and collateral releases.
• Assist in the processing of daily transactions by reviewing and approving for accuracy, alignment with client instructions and internal policies while multitasking and prioritizing duties throughout the day to ensure timely resolution.
• Working independently and in a team environment on these duties for individual and team wide success.
• Determine root cause of issues, provide solutions, and resolve matters independently without management supervision.
• Implementation and management of operational and supervisory procedures for the firm.
• Ability to effectively communicate with registered representatives, agency personnel, and internal business partners such as Compliance, Field Inspection, and Regional Supervisory Directors.
• Specialized regulatory knowledge of securities such as Options trading, Municipal Securities, Mutual Fund classifications and Margin regulations may be required.
• Involved in complex problem resolution requiring higher level critical thinking daily.
• Consistently identify and report to management on trending and risk mitigation measures.
• Engage with specialized professional personnel/departments at MMLIS and NFS, such as Legal, Compliance, Anti-Money Laundering, Risk and Margin.
• Become well versed in retirement products, Internal Revenue Service (IRS) regulations and banking services/workflows (e.g., clearing house, pre-note, federal wire, intermediary banking).

The Minimum Qualifications

• FINRA Series 7 & 24 at time of application
• 2 years MMLIS experience and / or 3 years' experience with Brokerage/Advisory Transfer of Assets or Money Movement transactions
• High School Diploma/GED/HiSET
• Principals working 100% remotely may be subject to on-site inspection by MML and/or regulators
• Candidates residing within 50 miles of the MassMutual Springfield ​office will be expected to work a Hybrid schedule of 3 days a week in the office

The Ideal Qualifications

• 3 years MMLIS experience and / or 5 years' experience conducting suitability reviews within the brokerage/advisory space
• Extensive working knowledge or ability to learn the following systems: ICP, A360, Case Manager, Wealthscape, GIACT, Accurint/LexusNexus, FBSI, and Envestnet’s ENV2 platform
• Ability to work in a fast paced, ever-changing environment
• High degree of ownership and sense of urgency
• College degree preferred with a concentration in business or finance
• Passion for embracing business process improvement opportunities
• High aptitude for effective problem resolution
• Must be able to think independently and tactfully challenge the opinions of others
• Superior customer service skills
• Ability to work in a fast paced, ever-changing environment
• Excellent interpersonal skills; team player, self-motivated; patient demeanor; approachable style
• High aptitude for effective problem resolution
• Strong organizational and time management skills are essential

What to Expect as Part of MassMutual and the Team

• Regular meetings with the MMLIS Cashiering Team
• Focused one-on-one meetings with your manager
• Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, veteran and disability-focused Business Resource Groups
• Access to learning content on Degreed and other informational platforms
• Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits

MassMutual is an equal employment opportunity employer. We welcome all persons to apply.

If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.

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