Suitability Principal

MassMutual • Springfield, MA

11d

About The Position

The Suitability Principal conducts back-office suitability reviews and firm acceptance for accounts clearing through National Financial Services (NFS), and reviews and accepts money movement, transfers, and account maintenance transactions. The role calls for leadership and coaching, along with accountability, agility, inclusiveness, business acumen, courage, strong communication, a commitment to learning, resilience, and self-awareness.

Within MML Investors Services (MMLIS) Cashiering, the role supports the timely review and processing of brokerage and advisory transfers, deposits, withdrawals, and investment and withdrawal plans. The team provides field representatives with guidance on money-movement requirements and regulations, communicates with NFS, and works with Transfer of Assets, Advisory, New Business, and Trading teams.

The principal communicates with registered representatives, agency personnel, and internal partners—including Compliance, Field Inspection, and Regional Supervisory Directors—to provide guidance on money-movement suitability, introducing broker/dealer and clearing-firm requirements and policies, and margin-related matters. The role handles complex problem resolution and may review policy exceptions. As a registered principal, the employee may temporarily cover another department’s Business Acceptance Consultant role and will need general knowledge of non-Cashiering duties.

The position requires independent and collaborative work, sound judgment, transaction review, implementation and management of operational and supervisory procedures, and communication of trends and risk-mitigation measures. The principal engages with specialized MMLIS and NFS personnel and develops knowledge of retirement products, IRS regulations, and banking services and workflows.

Candidates must hold a FINRA Series 7 at application and obtain a Series 24 within 90 days of hire. The posting describes a salary range of $69,000–$90,500 and says compensation may also include a bonus target or, for sales-focused roles, variable incentive compensation. Candidates residing within 50 miles of the MassMutual Springfield office are expected to work a hybrid schedule of three days per week in the office. Principals working 100% remotely may be subject to on-site inspection by MML and/or regulators.

Requirements

• FINRA Series 7 at the time of application.
• Obtain FINRA Series 24 within 90 days of hire.
• At least 2 years of MMLIS experience and/or at least 3 years of experience with brokerage/advisory transfers of assets or money-movement transactions.
• High school diploma, GED, or HiSET.
• Ability to communicate effectively with registered representatives, agency personnel, and internal business partners.
• Ability to work independently and in a team environment.
• Ability to multitask, prioritize duties, and resolve transactions in a timely manner.
• Strong critical-thinking and problem-resolution ability.
• Strong organizational and time-management skills.
• Candidates residing within 50 miles of the MassMutual Springfield office are expected to work hybrid, three days a week in the office.
• Principals working 100% remotely may be subject to on-site inspection by MML and/or regulators.

Nice To Haves

• FINRA Series 7 and Series 24 at the time of application.
• At least 3 years of MMLIS experience and/or at least 5 years conducting suitability reviews in the brokerage/advisory space.
• Extensive working knowledge of, or ability to learn, ICP, A360, Case Manager, Wealthscape, GIACT, Accurint/LexusNexus, FBSI, and Envestnet’s ENV2 platform.
• Ability to work in a fast-paced, ever-changing environment.
• High degree of ownership and sense of urgency.
• College degree, preferably with a concentration in business or finance.
• Interest in embracing business-process improvement opportunities.
• Ability to think independently and tactfully challenge others’ opinions.
• Superior customer-service skills.
• Excellent interpersonal skills; team-player approach; self-motivation; patient demeanor; approachable style.

Responsibilities

• Conduct back-office reviews and firm acceptance of broker-dealer business submissions, including Corporate RIA accounts, brokerage accounts, options accounts, 529 plans, money movement, transfers, and account maintenance.
• Review death- and divorce-related account transfers, federal wire disbursements, international money movement, restriction removals, and collateral releases.
• Review and approve daily transactions for accuracy, alignment with client instructions, and compliance with internal policies; prioritize work to ensure timely resolution.
• Work independently and collaboratively to support individual and team success.
• Identify root causes, develop solutions, and resolve matters independently without management supervision.
• Implement and manage operational and supervisory procedures for the firm.
• Communicate with registered representatives, agency personnel, and internal partners, including Compliance, Field Inspection, and Regional Supervisory Directors.
• Resolve complex problems requiring higher-level critical thinking and, when needed, review policy exceptions.
• Identify and report trends and risk-mitigation measures to management.
• Engage with specialized MMLIS and NFS personnel and departments, including Legal, Compliance, Anti-Money Laundering, Risk, and Margin.
• Develop knowledge of retirement products, IRS regulations, and banking services and workflows, such as clearing house, pre-note, federal wire, and intermediary banking.
• Provide guidance on money-movement suitability, introducing broker/dealer and clearing-firm requirements and policies, and margin-related money-movement matters.
• Temporarily cover another department’s Business Acceptance Consultant duties when asked.

Benefits

• The company describes its pay and benefits as industry-leading and refers applicants to its Total Rewards at a Glance for details of its benefits offerings.
• Incentive and bonus opportunities; total compensation includes either a bonus target or, for sales-focused roles, a variable incentive compensation component.
• Access to learning, development, and internal networks.
• Employee-led communities and forums that foster connection, learning, and inclusion.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: High school or GED