Suitability Review Consultant

Sammons Financial Group • West Des Moines, IA

13d

About The Position

Conduct suitability reviews of annuity new business applications while managing escalated files, replacement monitoring, heightened reviews, trend analysis and agent outreach to ensure compliance with National Association of Insurance Commissioners (NAIC) suitability, state and federal regulations.

Requirements

• Proficient use of PC and Microsoft Office products
• Strong verbal and written communication skills
• Excellent analytical problem solving skills with the ability to make decisions
• Demonstrated ability to influence others
• Advanced organizational skills with ability to focus on appropriate details
• Self-motivator and ability to work efficiently and independently to meet service levels
• Ability to adapt to frequent change
• Ability to work periodic overtime, sometimes with relatively short notice
• Series 6 and Series 26 licenses (or Series 7 and 24) or ability to obtain within 120 days Required
• Credit and criminal background check is required
• FINRA regulations require fingerprinting for this position.

Nice To Haves

• Bachelor's Degree Preferred
• Minimum 5 years' Broker dealer back office, annuity or insurance client service experience Preferred
• Previous suitability or compliance experience Preferred
• FINRA SIE Preferred

Responsibilities

• Determine the suitability for annuity new business applications. Gather additional information for analysis, evaluate and make final suitability recommendations and decisions and extensively document decisions and actions taken. Decide when to involve management for limited items outside scope of authority.
• Provide leadership and direction to the Suitability Review Consultants including, but not limited to workload management, coaching, training and case review support.
• Provide individualized case management, level back office service and support to our top producers by directly working with the agents and their staff on all Suitability questions, pre-sale reviews and decline conversations.
• Maintain and provide updates to team on written procedures in compliance with regulations to ensure accurate, efficient and consistent processing of the suitability review workload.
• Maintain comprehensive knowledge of company offered annuity products (i.e. variable, fixed and fixed indexed) as well as external financial products. Provide Suitability Review Consultant support by utilizing overall product knowledge and expertise.
• Complete heightened reviews on agent’s books of business to ensure consistency in our review process. Analyze results and find trends and patterns; share results and recommendations with management and the Review Committee.
• Assist with monthly quality assurance (QA) of the suitability phone and review process to ensure procedures and guidelines are being followed. Provide mentorship through coaching and assisting team members with heightened reviews of individual cases and agents. Collaborate with corresponding team member regarding feedback resulting from quality reviews.
• Assist management with the annual re-certification/audit of third party distributors to ensure functions are being performed as requested and are compliant with applicable laws, rules and regulations. Seek support as necessary from internal suitability governance team. Review the ongoing monitoring of banks, broker-dealers and other external distribution partners.
• Assist the Compliance team with reviewing files on post issue complaints.
• Provide subject matter expertise to IT and Agile project teams by participating and facilitating meetings, creating stories, performing user acceptance testing, and executing business approval.
• Support all other Annuity New Business teams when volume and capacity allows.
• Accept and manage any calls and escalations from our distribution partners professionally and autonomously.
• Assist leader with additional research requests in regards to escalated cases and follow up with agents and business partners when requested.
• Review auxiliary reports related to the Suitability department. Provide timely and comprehensive feedback to management and other suitability consultants regarding these reports.
• Commitment to embrace Sammons Financial Group Companies shared values (Accountability, Connection, Openness, Respect and Integrity).
• 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.
• Other duties as assigned.

Benefits

• Comprehensive health coverage for you and your family, including Medical, Dental, Vision, HSA & FSA options, and term life insurance.
• Competitive compensation with a performance-based incentive program tied to clear goals and individual and/or company success.
• 100% company-funded Employee Stock Ownership Plan (ESOP), plus automatic enrollment in our 401(k).
• Friday afternoons off year-round, generous paid time off, and paid holidays.
• Paid development time, tuition reimbursement, and professional development opportunities across industry, individual, and leadership programs.
• Volunteer time off, and our company nonprofit matching gift program.
• An ownership culture that inspires; join a connected, values-driven workplace where employees take accountability, support one another, and are empowered to do their best work—together shaping our future shared success.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level