Practice Management Operations, Senior Specialist

Northwestern Mutual•Milwaukee, WI

About The Position

Working directly with Advisor Practices/Practice Management, Distribution Performance, Field Leadership, and Financial Advisors, this role evaluates short- and long-term staff incentive compensation plans and provides feedback and guidance. The position supports Career Advisors’ growth objectives and helps reward and retain field talent by serving as a subject-matter expert on understanding and complying with federal, state, and product regulatory requirements. It identifies conflicts of interest and aligns interests with those of clients in keeping with the enterprise value of “doing the right thing.” The role interprets Northwestern Mutual’s field compensation framework, including insurance, investment brokerage, advisory, and field management compensation information. As a FINRA-registered principal, the role exercises independent decision-making authority on behalf of NM, NMIS, and the Wealth Management Company to review, approve, and audit staff compensation incentive plans. It formulates recommendations and solutions while balancing the interests and expectations of Career Advisors, Field Supervision, and Distribution Performance. The role identifies and anticipates issues and conflicts, escalating them to legal and enterprise stakeholders as needed; conducts audits and collects payment-artifact evidence in accordance with firm policy and NMIS books-and-records requirements; assists local Supervision with individual cases; educates and trains stakeholders and supervision team members; and leads or participates in projects and continuous improvement efforts. The position is classified as a Registered Representative under NMIS guidelines and requires fingerprinting.

Requirements

FINRA Series 6 and Series 26 licenses are required or must be obtained within six months.
A minimum of 3–5 years of proven experience in the insurance, investment, or financial services industry.
Knowledge of Microsoft Office, with strong emphasis on Excel proficiency.
Ability to prioritize workload, seek support when appropriate, and work within a larger team.
Sound decision-making skills, using analysis, wisdom, experience, and judgment to reach conclusions or recommendations.
Strong critical-thinking, analytical, and problem-solving skills.
Tact and diplomacy, with proven success establishing effective relationships.
Attention to detail, including thorough proofreading for presentation, content, accuracy, and quality.
The position requires fingerprinting under NMIS guidelines.

Nice To Haves

Bachelor’s degree, or an equivalent combination of education and experience.
Compliance and/or contract, licensing, and registration experience or knowledge.

Responsibilities

Evaluate short- and long-term staff incentive compensation plans and provide feedback and guidance.
Support understanding of and compliance with federal, state, and product regulatory requirements.
Identify conflicts of interest and align interests with those of the client.
Interpret field compensation frameworks covering insurance, investment brokerage, advisory, and field management compensation.
Exercise independent decision-making authority to review, approve, and audit staff compensation incentive plans.
Formulate recommendations and solutions while balancing the expectations of Career Advisors, Field Supervision, and Distribution Performance.
Identify and anticipate issues and conflicts; escalate matters to legal and enterprise stakeholders as needed.
Conduct audits and collect evidence of payment artifacts in accordance with firm policy and NMIS books-and-records requirements.
Assist the local Supervision team with individual cases and collaborate to resolve questions and issues.
Educate and train enterprise stakeholders and supervision team members as needed.
Lead or participate in projects and continuous improvement efforts.