What are the responsibilities and job description for the Sales Practices Senior Specialist position at Northwestern Mutual?
About the Job: Within the Market Conduct team in Enterprise Compliance, this role resolves complex and sensitive complaints from clients and various regulatory entities regarding the sale or servicing of all insurance and securities products. Investigates sales practice matters and takes appropriate action to address any violations of Northwestern Mutual policies and procedures. What You'll Do: Determines resolutions in response to sales practices complaints filed against the field force involving non-standard and sensitive issues. Complaints involve all products and services provided by Northwestern Mutual (NM). May require extensive research and consultation with the law department and other Home Office experts. Corresponds and interacts with clients and the field, in order to ensure timely resolution of complaints in an efficient, cost-effective and cooperative manner thereby preserving the reputation of NM. File Error and Omissions and bond claims following resolution when appropriate in order to minimize NM's cost of resolution. Conducts comprehensive investigations of field sales practices, including suspected fraud, violations of company policy, and FINRA and State Insurance Department laws and regulations. Investigations may include field audits and interviews with field representatives and field staff. Conducts research of state laws, regulatory rules, and company policies and procedures, which may include consultation with lawyers and other Home Office experts in order to determine appropriateness of field activity. Determines appropriate course of disciplinary action, which may include issuing disciplinary letters, recommending fines or the implementation of enhanced supervision, presenting the representative to the Market Conduct Committee for disciplinary action and/or recommending contract termination. Ensures that all incidents (complaints, terminations, etc.) are reported to the Regulatory Reporting Team responsible for reporting or to the appropriate reporting regulatory agencies in the proper manner within the time frame dictated by regulation. Responds to state insurance department inquiries that are received when a representative is terminated for cause, as a result of a sales practices complaint or investigation. Responds to state insurance department inquiries that are received when a representative is terminated for cause, as a result of a sales practices complaint or investigation. Communicates effectively with the field, consistently demonstrating a clear understanding of all Northwestern Mutual products, policies and procedures. Helps the field grow their business the right way by providing guidance and education on compliance and sales practices issues. Participates in committees, special projects, divisional meetings, and case studies, as determined by division management Assists the Law Department in Market Conduct related litigation, including being deposed and providing court testimony. Demonstrates leadership by assisting in the development of P1 Sales Practices Specialists through consultation, case referrals, and training. What Skills You'll Bring: Bachelor's Degree Preferred or equivalent combination of education and experience in Business Administration, Finance, Marketing, or Pre-Law preferred. FINRA SIE, FINRA Series 6 and 26 or Series 7 and 24 required or can be obtained within 6 months Minimum of 3 to 5 years of relevant experience. Experience in the financial services, Insurance, or Investment industry preferred. Proven ability to diffuse difficult clients, resolve conflict, and handle difficult conversations. Ability to understand, influence, and interact with all types of clients, field and home office partners. Ability to negotiate reasonable resolutions both verbally and in writing on complex non-standard compliance issues and conflicts, in which no prior precedent may have been set, with policyowners, their representatives, field, home office, and regulators. Knowledge of insurance and investment products and operations. Ability to solve complex problems; take a new perspective on existing solution; exercise judgement based on the analysis of multiple sources of information. Case-related travel is required on occasion. #LI-Hybrid, #LI-Onsite This position has been classified as a Registered Representative under NMIS guidelines and requires fingerprinting.Series 24 - FINRA, Series 7 - FINRA Compensation Range: Pay Range - Start: $56,140.00 Pay Range - End: $104,260.00 Geographic Specific Pay Structure: 175 - Structure 110 (Exempt): 61,740.00 USD - 114,660.00 USD 175 - Structure 115 (Exempt): 64,540.00 USD - 119,860.00 USD We believe in fairness and transparency. It’s why we share the salary range for most of our roles. However, final salaries are based on a number of factors, including the skills and experience of the candidate; the current market; location of the candidate; and other factors uncovered in the hiring process. The standard pay structure is listed but if you’re living in California, New York City or other eligible location, geographic specific pay structures, compensation and benefits could be applicable, click here to learn more. Grow your career with a best-in-class company that puts our clients' interests at the center of all we do. Get started now! Northwestern Mutual is an equal opportunity employer who welcomes and encourages diversity in the workforce. We are committed to creating and maintaining an environment in which each employee can contribute creative ideas, seek challenges, assume leadership and continue to focus on meeting and exceeding business and personal objectives. At Northwestern Mutual, we believe relationships are built on trust. That our lives and our work matter. These beliefs launched our company over 160 years ago. Today, they're just a few of the reasons why people choose to build careers at Northwestern Mutual. What started in Milwaukee, WI has grown into 7,000 home office professionals split across 3 campuses: New York City, Franklin and downtown Milwaukee (HQ) - each one bringing with it its own unique talent and culture. In a company with such a long and storied history, this may be the most exciting and important time to be a part of Northwestern Mutual as we are growing our digital and tech capabilities and are always on the lookout for bright, tech-savvy candidates. Northwestern Mutual is proud to be an equal opportunity and affirmative action employer. We have chosen to build a diverse and inclusive workplace where talented people from all backgrounds want to be, want to stay, and want to build their future. We celebrate and support our differences for the benefit of our employees, our products, and our community. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender identity or expression, sexual orientation, national origin, disability, age or status as a protected veteran, or any other characteristic protected by law.
Salary : $56,140 - $104,260
