Practice Management Operations Consultant

Northwestern Mutual•Milwaukee, WI

5d•Hybrid

About The Position

Summary: An integral consulting partner between the Home Office, Field Supervision and Financial Advisors. Working directly with Advisor Practices/Practice Management, Distribution Performance, Field Leadership and Financial Advisors and Teams, you will evaluate complex staff compensation models and provide direct feedback and guidance regarding compliant team member incentive compensation plans. Deep subject-matter expert role to support understanding and compliance with federal, state and product regulatory requirements. Identify and address conflicts of interest and align interests to that of the client in keeping with the Enterprise value of “doing the right thing”. Primary Duties & Responsibilities: Consult to the Enterprise on compliant team compensation incentive plans with a focus on transaction-based incentives within the Teaming framework . Lead and/or support the development, implementation and maintenance of policies, procedures, resources, and training to support growth of sophisticated practices and drive business results. Own compliance procedures and adjust as needed to meet compliance oversight requirements. As a securities principal, exercise independent decision-making authority on behalf of NM, NMIS and the Wealth Management Company for the review, approval, and audit of staff compensation incentive plans. Formulate recommendations and solutions while balancing competing interests and meeting expectations of Career Advisors, Field Supervision, and Distribution Performance. Identify and anticipate issues and conflicts; escalate to law and enterprise stakeholders as needed to resolve issues and move teams forward on a timely basis. Regularly measure the effectiveness of controls, identify improvement opportunities, recommend and, implement actions to address them. Drive continuous improvement and operational efficiency. Lead others and/or personally conduct audits and collect evidence of payment artifacts in accordance with firm policy and books & records. Assist the local Supervision team in individual case circumstances and collaborate to creatively resolve complex questions and issues. Educate and train Enterprise stakeholders and supervision team members.

Requirements

Bachelor's Degree Preferred or equivalent combination of education and experience preferred
FINRA Series 6 & 26 or Series 7 & 24 required
Minimum of 6 year of proven experience
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
Sound decision-making skills ability to use a mixture of analysis, wisdom, experience, and judgment to arrive at a conclusion or recommendation
Strong critical-thinking, analytical and problem-solving skills a must
Exercises tact and diplomacy; proven success in establishing effective relationships
Ability to communicate complex ideas, anticipate potential objections and persuade others, often at senior levels, to embrace a different point of view
Individual contribution leadership behavior focus: Solve for the Client; Lead with Enterprise Vision; Play to Win
This is a hybrid role with a requirement of being in the office 3 days a week
This position has been classified as a Registered Representative under NMIS guidelines and requires fingerprinting

Nice To Haves

Experience in insurance, investment, or financial services industry preferred
Compliance and/or contract, licensing, and registration experience and/or knowledge preferred

Responsibilities

Consult to the Enterprise on compliant team compensation incentive plans with a focus on transaction-based incentives within the Teaming framework
Lead and/or support the development, implementation and maintenance of policies, procedures, resources, and training to support growth of sophisticated practices and drive business results
Own compliance procedures and adjust as needed to meet compliance oversight requirements
As a securities principal, exercise independent decision-making authority on behalf of NM, NMIS and the Wealth Management Company for the review, approval, and audit of staff compensation incentive plans
Formulate recommendations and solutions while balancing competing interests and meeting expectations of Career Advisors, Field Supervision, and Distribution Performance
Identify and anticipate issues and conflicts; escalate to law and enterprise stakeholders as needed to resolve issues and move teams forward on a timely basis
Regularly measure the effectiveness of controls, identify improvement opportunities, recommend and, implement actions to address them
Drive continuous improvement and operational efficiency
Lead others and/or personally conduct audits and collect evidence of payment artifacts in accordance with firm policy and books & records
Assist the local Supervision team in individual case circumstances and collaborate to creatively resolve complex questions and issues
Educate and train Enterprise stakeholders and supervision team members