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Northwestern Mutual · 6 days ago

Sales Practices Consultant

Milwaukee, WI Corporate

Full-time

Hybrid

Mid, Senior Level

$70K/yr - $149K/yr

6+ years exp

Northwestern Mutual is a leading financial services company, and they are seeking a Sales Practices Consultant to resolve complex complaints from clients and regulatory entities regarding insurance and securities products. This role involves investigating sales practices, providing compliance expertise, and leading initiatives to enhance best business practices within the organization.

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Responsibilities

Determines resolutions in response to sales practices complaints filed against the field force involving complex 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 rep 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

Serves as an expert compliance resource to others in the Field and the Home Office in order to ensure best practices. This may involve extensive research of Company policy and/or regulatory rules and educating the Field and Home Office on the benefits of using best business practices

Assists in the development of Sales Practices Specialists and Senior Specialists through training, consultation, case referrals and providing specific performance feedback directly to the Specialist and to the division manager

Provides leadership within the division by participating in and leading project teams to enhance controls and develop process improvements within the division, department and/or company. Leads group meetings including experts in various departments in order to come to consensus or resolution regarding customer complaints or actions taken regarding the field

Assists the Law Department in Market Conduct related litigation, including being deposed, providing court testimony and participating in mediations

Qualification

FINRA SIESeries 7Series 24Insurance knowledgeInvestment knowledgeAnalytical skillsConflict resolutionNegotiation skillsLeadership

Required

FINRA SIE, Series 7 & 24 required or can be obtained within 6 months

Minimum of 6 years of relevant experience

Proven ability to diffuse difficult clients, resolve conflict, and handle difficult conversations

Strong ability to negotiate reasonable resolutions both verbally and in writing on complex non-standard compliance issues and conflicts

Knowledge of insurance and investment products and operations

Leads others to solve complex problems; uses sophisticated analytical thought to exercise judgement and identify innovative solutions

Case-related travel is required on occasion

Preferred

Bachelor's Degree Preferred or equivalent combination of education and experience in Business Administration, Finance, Marketing, or Pre-Law preferred

Experience in the financial services, Insurance, or Investment industry preferred