Business Oversight & Controls Consultant at Northwestern Mutual

Franklin, Wisconsin, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Insurance, Financial ServicesIndustries

Requirements

Bachelor's degree or equivalent work experience in business, finance, or project management (equivalent combination of work experience at Northwestern Mutual considered)
Minimum 5 years of client operations experience with broad, in-depth knowledge of insurance, annuity, investment products, business operations, and/or processes
Organizational agility to navigate across various departments and teams
Ability to drive for results
Systems thinking capability (continuously improve methodologies, practices, and techniques)
Project management methodology experience with ability to lead complex projects involving multiple stakeholders, process improvements, communications, and change management
Superior oral and written communication skills with proven ability to build relationships inside and outside team and successfully negotiate issues
Strong analytical skills with demonstrated ability to identify and resolve key issues and execute/drive outcomes within established scope and timelines
Strong working knowledge of Insurance/Securities industry rules and regulations
FINRA SIE, Series 6, and Series 26 registration preferred for duties related to variable life and annuity products (to be obtained in a designated period of time)

Responsibilities

Support operational controls and oversights for variable life, annuities, DI, LTC, and insurance products, programs, and services to mitigate risk
Design and implement new or existing policies and procedures; support ongoing evolution of products, programs, and services, including coordinating and driving efforts
Interpret customer (internal and external) needs and act as the go-to controls expert to explain and translate product or program features and functions into operational controls to mitigate risks
Lead risk mitigation efforts such as enhancements to processes and/or procedures due to regulation changes, audits (internal and external), and all remediation efforts
Perform careful evaluation and decision making across varied options impacting end clients, field members, and the function
Solve complex problems with minimal coaching, identify and evaluate risk, and implement creative and efficient solutions
Contribute to direction setting at a department and/or business unit level
Consult with, train, and mentor members of Annuity New Business on compliance requirements for the review/issuance of Northwestern Mutual annuity products

Skills

Key technologies and capabilities for this role

insurance productsannuitiesrisk mitigationpolicy designprocedures implementationproject managementcomplianceprocess improvementstakeholder managementsystems thinkingregulatory changesauditsbusiness operations

Questions & Answers

Common questions about this position

What is the salary range for the Business Oversight & Controls Consultant position?

The pay range starts at $69,720 and ends at $129,480, with geographic specific structures of $76,720-$142,480 (Structure 110) and $80,150-$148,850 (Structure 115). Final salaries depend on various factors.

Is this a remote position or does it require office work?

This information is not specified in the job description.

What skills and qualifications are required for this role?

Requires a Bachelor's degree or equivalent in business, finance, or project management, minimum 5 years of client operations experience in insurance/annuity products, project management skills, strong analytical and communication abilities, and knowledge of insurance regulations. FINRA SIE, Series 6, and Series 26 registrations are preferred.

What is the company culture like at Northwestern Mutual for this role?

This information is not specified in the job description.

What makes a strong candidate for this Business Oversight & Controls Consultant position?

Strong candidates have 5+ years in client operations with insurance/annuity knowledge, project management experience leading complex projects, strong analytical and communication skills, regulatory knowledge, and FINRA registrations preferred.

Northwestern Mutual

Provides financial security services, and wealth management

About Northwestern Mutual

Northwestern Mutual offers personalized financial planning, life insurance, and investment services, leveraging leading-edge technology to manage over $125 billion in client assets for more than 4.5 million clients.

Milwaukee, WisconsinHeadquarters

1856Year Founded

N/ACompany Stage

Consulting, Fintech, Financial ServicesIndustries

10,001+Employees

Benefits

Growing your Career

Compensation & Time Off

Insurance plans

Health Savings Account

Wellness programs & resources

401(k) plan and cash balance contributions

Risks

Fintech platforms like Carefull challenge traditional financial advisory services.

Internal competition may arise from Wellthi's focus on the Black community.

Customer dissatisfaction may grow due to increased retirement age expectations.

Differentiation

Northwestern Mutual maintains the highest financial strength ratings in the industry.

The company launched 'The Great Realization' campaign to refocus customer priorities.

Northwestern Mutual offers a unique Long-Term Advantage product with life insurance benefits.

Upsides

The aging population increases demand for retirement planning and long-term care solutions.

Partnerships with tech firms enhance Northwestern Mutual's data analytics capabilities.

Digital transformation in insurance leads to more personalized customer experiences.

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