Senior Compliance Specialist at Northwestern Mutual

Milwaukee, Wisconsin, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Financial Services, InsuranceIndustries

Requirements

Bachelor's Degree preferred or equivalent combination of education and experience
FINRA Series 7 & 24 required (candidates must successfully complete and pass any required testing, including SIE)
Minimum of 4 years of relevant experience (experience in insurance, investment, or financial services industry preferred)
Knowledge of Microsoft Office with strong emphasis on Excel proficiency
Ability to prioritize workload and seek support when appropriate, as well as work within a larger team
Proven success in establishing effective team relationships
Ability to solve problems by analyzing all possible solutions using technical experience, judgement, and precedent
Ability to explain difficult or sensitive information
Maintain a strong knowledge of regulations, industry standards, company policies/practices, NM distribution systems, products, and culture

Responsibilities

Assist Vice Presidents of Distribution Performance and their Regional Oversight and Engagement teams in providing Compliance and Supervision consultation to Field Leadership, Financial Representatives, and Home Office business partners on sales practices, policies, and procedures
Provide support for divisional, departmental, and enterprise-wide projects as a subject matter expert
Educate and train Representatives and their staff while performing branch inspections and striving to improve divisional work processes
Collaborate with field leadership in developing, implementing, and executing risk management plans for local offices
Complete on-site inspections and annual reviews of books and records of Offices of Supervisory Jurisdiction, Registered Branch Offices, and other field locations as required by FINRA
Conduct interviews and client file reviews with representatives in field offices in accordance with firm policy and industry regulations
Consult with Regional Oversight and Engagement team to assist with creation and implementation of Network Office specific solutions to material and ongoing compliance issues
Document, draft, and follow-up with detailed reports regarding field offices and individual registered representative visits; document observations and findings of sales practices through interviews
Effectively communicate, educate, train, and consult with registered representatives, field management, field supervisors, and home office personnel regarding federal and state securities/insurance regulations and Northwestern Mutual compliance policies and procedures
Partner with Network Office Supervision teams, Regional Oversight and Engagement teams, and home office Distribution Performance teams to assess and improve current compliance and supervision processes
Collaborate and communicate with various levels of internal and external associates, review relevant documentation, and interpret/apply industry regulations/state statutes to create efficiencies, mitigate firm risk, and comply with regulations
Execute oversight and supporting tasks to provide additional insight into Network Offices' business activities
Make independent decisions, consult with appropriate team resources as needed, and drive highly effective communication

Skills

Key technologies and capabilities for this role

FINRA compliancesecurities regulationsinsurance regulationssales practicesrisk managementbranch inspectionsclient file reviewscompliance consultingpolicy implementationtrainingreport writingsupervisory jurisdiction reviews

Questions & Answers

Common questions about this position

Is this a full-time position?

Yes, this is a full-time employment opportunity.

What is the work arrangement or location policy for this role?

This information is not specified in the job description.

What experience is required for the Senior Compliance Specialist role?

A Bachelor’s degree is required.

What does the team structure look like for this position?

You will assist the Vice Presidents of Distribution Performance and their Regional Oversight and Engagement teams, collaborating with field leadership, Financial Representatives, Home Office business partners, Network Office Supervision teams, and others.

What makes a strong candidate for this Senior Compliance Specialist position?

Strong candidates should have knowledge of federal and state securities/insurance regulations, Northwestern Mutual compliance policies, and the ability to conduct on-site inspections, client file reviews, communicate effectively, and serve as a subject matter expert on projects.

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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