This position will focus on the suitability review of Penn Mutual’s fixed annuities business. It will be a member of the operations team and work in conjunction with our compliance and legal departments to ensure the purchase of the product is in line with regulations as well as Company policies and procedures (including suitability, replacement business, etc). This position will be instrumental in ensuring the suitability of the product recommendation as well as provide review of the case to confirm it is in good order and the client is well informed.
Responsibilities
- Perform suitability of new business applications
- Be familiar with and have the ability to interpret laws and regulations as it relates to new business
- Document and enhance the suitability process and workflow
- Create and maintain system to house suitability determinations with sufficient documentation on determinations
- Identify trends and escalate areas of an unsuitable nature as appropriate
- Review and interpret legal documents such as trust, power of attorney, corporate certifications, etc.
- Ability to triage and review complex cases
- Works directly with ANB team to identify areas of opportunity to improve service levels and recommend best practices
- Develops inter-department relationships to effectively work with others to bring a case to resolution.
- Contributes to overall team goals and takes the lead on projects
- Maintains knowledge of all annuity products, illustrations, systems, industry regulations and department standards and goals
- Working with financial professional to build relationships and provide excellent customer service.
- Processes necessary transactions and documents the case demonstrating attention to detail. Meets speed of service and quality goals for each task function
- Learns and assists with the new business process from application entry, check handling, and case management. Complies with all company and site policies and procedures
- Remains current in profession and industry trends
- Successfully completes regulatory and job training requirements
- Performs other duties as assigned
Required Skills
- Ability to build relationships throughout the organization; including home office associates, field associates, leaders at all levels of the organization and advisers
- Critical thinking skills with strong attention to detail and process skill set
- Strong communication skills; both verbal and written with the ability to tailor communications to all audiences
- Ability to bring items to conclusion and resolution and drive for results
- Must be adaptable and able to manage multiple priorities; work with a sense of urgency
- Proficiency in MS Office (Outlook, Excel, PP and Word)
- Ability to work independently with minimal direction
- Ability to make a positive contribution as demonstrated by learning new skills and making suggestions for process/procedure improvement
- Ability to work with others in a collaborative team environment
Required Experience
- Minimum 3-5 years of experience in the insurance/financial services industry
- Experience relating to annuity suitability strongly preferred
- Strong knowledge and understanding of compliance requirements and regulations
- Experience and understanding of FINRA and SEC regulations preferred
Education/Licenses/Professional Designations
- Bacherlor’s degree or equivalent experience
- FINRA Series 6 & 26 preferred
Penn Mutual helps people become stronger. Our expertly crafted life insurance is vital to long-term financial health and strengthens people’s ability to enjoy every day. Working with our trusted network of financial professionals, we take the long view, building customized solutions for individuals, their families, and their businesses. We support our financial professionals with retirement and investment services through our wholly owned subsidiary, Hornor, Townsend & Kent, LLC, member FINRA/SIPC.
Salary Range - $55,000 - $65,000