At Northwestern Mutual, we are strong, innovative and growing. We invest in our people. We care and make a positive difference.
Ensures investment programs compliance and supervision in accordance with federal regulations and advisory program requirements and rules to handle and mitigate operational risk for the front line. Performs oversight and control obligations while maintaining fiduciary responsibilities and supervision for advisory programs. Resolves investment and/or advisory program account supervision/oversight issues, including escalations, home office leader inquiries and field partners. Takes leadership role as a technical expert and responsible for proactively identifying options and solutions with an eye towards risk and tradeoffs. Participates in cross functional projects and committees. Assists manager in the oversight of day-to-day operations, including: developing, recommending and implementing policies, procedures, controls and training. Independently seeks, investigates and implements process and control improvements. Provides coaching and training to less experienced team members.
Primary Duties and Responsibilities
- Conducts supervision and oversight for all IPS programs. Tests adherence to policies/procedures, ensures proper controls; and recommends and implements corrective action. Escalates issues to Home Office Oversight Assistant Director, IPS Committees (Oversight, WMC Operational Risk and Vendor Oversight Committee and/or WMC Investment Committee).
- Responsible for oversight of Signature advisory program activities (e.g. overdrafts, cash, checks, ineligible securities, drift, reviews, proxy voting, investment performance, client proposals, etc.). Consults with field advisors and their staff to ensure proper program guidelines are being followed and ensures proper supervisory action taken when necessary.
- Responsible for monitoring field advisor program activity and approving/denying violation exceptions and ensuring ongoing oversight and supervision of approved exceptions.
- Conducts investment program regulatory oversight of home office trading activity. Researches and reviews pre-clearance and trading violations for home office personnel, taking corrective or supervisory action when necessary. Reviews and supervises trade corrections.
- Conducts regulatory supervision of IPS Trading Services employees. Tests adherence to policies and procedures via phone reviews and escalate issues to Home Office Supervision Assistant Director.
- Reviews trade/best execution information and resolves issues; prepares quarterly reports. Reviews clearing provider performance executing our municipal and corporate bond transactions etc.
- Reviews sub-custodian clearing provider performance execution of municipal and corporate bond transactions, trade/best execution performance, and IRA custody transactions; resolves issues and prepares quarterly reports for Committee reporting and escalation.
- Responsible for coordination and responses to regulatory exams and acts as liaison to Enterprise Risk Assurance and Enterprise Compliance for IPS. Owns and resolves issues related to supervision & oversight action items and action plan completion.
- Proactively identifies process improvements and implements operationally sound solutions that ensure strong oversight controls and maintain efficiency.
- Resolves client concerns and complaints for all IPS programs. Includes; research, Field Advisor/Field Management/Law/Compliance consultations. Resolves fault/liability, develops proper resolution strategy, records and maintains documentation, drafts responses and ensures reporting to appropriate Committees and/or Enterprise Compliance.
- Reports Errors & Omissions (E&O) claims and works with E&O carrier until resolved.
Knowledge, Skills and Abilities
- Bachelor’s degree in Business, Finance or related field or equivalent industry experience
- 5 plus years of experience in financial services with an emphasis in compliance/supervision/regulatory in the securities industry including 3 years of supervisory experience preferred.
- Comprehensive understanding of broker/dealer and investment advisory operations and related regulation.
- Superior written and oral communication skills.
- Demonstrated ability to make independent decisions
- Demonstrated leadership and interpersonal skills
- Demonstrated analytical skills and confidence to make judgments and decisions involving ambiguity
- Proven ability to positively influence, work cooperatively and negotiate with all levels of employees
- Demonstrated ability to proactively lead change
- Self-motivated and self-directed with the ability to manage multiple assignments.
- Demonstrated ability to apply knowledge across complex business areas and participate in projects in a cross functional environment
- Strong business acumen and demonstrated ability to learn new business concepts and procedures
This position has been classified as a Registered Representative under NMIS guidelines and requires fingerprinting.
Required Certifications:Series 24 - FINRA, Series 7 - FINRA, SIE - FINRA
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We are an equal opportunity/affirmative action employer and 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.
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We’re excited about the potential people bring to Northwestern Mutual. You can grow your career here while enjoying first-class perks, benefits, and commitment to diversity and inclusion.
Flexible work schedules
Employee resource groups