Sales Practices Sr Specialist

Summary:

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.

Primary Duties & Responsibilities:

• 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.

Qualifications:

• 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

Compensation Range:

Pay Range - End:

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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.

We're excited about the potential people bring to Northwestern Mutual. You can grow your career here while enjoying first-class perks, benefits, and our commitment to a culture of belonging.

• Flexible work schedules
• Concierge service
• Comprehensive benefits
• Employee resource groups