Suitability Review Consultant
Sammons FinancialFull time Full day
Sammons Financial Group Companies offer some of today's most sought after life insurance, annuity, and retirement planning products. Unlike most financial organizations, our companies are not publicly traded, which means we're focused on long-term value rather than short-term earnings pressures. As a privately held company, our leaders and employees remain consistently focused on long-term growth, making decisions that allow us to deliver on our commitments to customers, distribution partners, our employees, and our communities. Individually, our companies provide value in the products and services they offer. Together we represent a history of strength and longevity.
What you can expect when you join Sammons:
- A casual dress code including jeans
- A rich company culture driven by private ownership and intentional leadership inspiring employees to engage in our healthy, high-performing and values based culture
- Healthy balance between work and personal lives. Friday afternoons off all year long, competitive PTO and generous number of paid holidays
- Great benefits including medical, dental, vision, wellness plan, charitable giving programs, education assistance… to name a few
- ESOP-A generous 100% company funded retirement plan
What you can expect as the Suitability Review Consultant
Conduct the suitability review of Annuity business to ensure compliance with NAIC suitability, state and federal regulations.
- Review annuity new business and suitability documentation. Gather additional information and provide analysis, extensively document decisions and actions, evaluate and execute information for final suitability recommendation.
- Accept and manage escalated calls professionally and autonomously.
- Maintain comprehensive knowledge of offered annuity products as well as external financial products.
- Monitor state and federal regulatory proposed and final rules related to suitability. Ensure the Suitability Department and Annuity Division complies with all regulations and rules related to Suitability.
- Maintain written procedures in compliance with regulations to ensure accurate, efficient, and consistent processing of workflow.
- Run auxiliary reports related to the New Business and Suitability departments. Analyze the advantages and disadvantages of the possible solutions and show their impact to the bottom line. Provide timely and comprehensive feedback to management regarding these reports.
- Assist with the annual audit of Third Party Distributors to ensure functions are being performed as requested and are in compliance with applicable laws, rules and regulations.
- Assist with the review of new or revised marketing correspondence and new business forms related to Suitability.
- Participate in development of system test plans and user acceptance testing as necessary.
- Effectively communicate with all other departments within the company as they relate to suitability procedures and decisions.
- Perform administration support functions on behalf of Sammons Financial Network, LLC in its capacity as wholesale distributor for variable insurance products issued by Midland National Life Insurance Company.
- Commitment to embrace Sammons shared values (Respect, Accountability, Integrity, and Openness)
- As stated within the Company Attendance and Punctuality policy, regular attendance is required and expected in order to meet the business service levels and workflow demands.
What we are looking for:
- Bachelor's Degree preferred
- Equivalent work experience preferred
- FINRA Series 6 and 26 (or series 7 and 24) or ability to obtain within 90 Days required
- Minimum 3 years' Broker dealer back office, annuity or insurance client service preferred
- Excellent verbal and written communication skills
- Analytical problem solving
- Ability to influence others
- Advanced organizational skills with ability to focus on appropriate details
- Self motivator and ability to work efficiently and independently
- Ability to adapt to frequent change.
- Proficient use of PC and Microsoft Office Products
- Proven facilitation skills
- Ability to work periodic overtime, sometimes with relatively short notice
- Due to the financial nature and level of accountability of this position, a credit and criminal background check is required.
- FINRA regulations require fingerprinting for this position. Management reserves the right to determine and approve incumbent suitability for this position.
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