Investment Operations Associate

Northwestern Mutual; St. Louis (MO); On-site; USD 50,000 - 70,000; Full time

Job summary

Northwestern Mutual is seeking an Investment Operations Associate to streamline client service and manage investment product processes. The ideal candidate will be licensed or willing to become licensed and have a strong background in the financial services industry. This entry-level position focuses on supporting financial advisors with essential account processing and client communication tasks.

Qualifications

• Health and Life licensed or gain licensing within 6 months.
• Series 6 (and 63) required, Series 7 preferred for specific products.
• Demonstrated ability to maintain effective working relationships.

Responsibilities

• Process investment accounts and assist financial advisors.
• Handle case notes and maintain client case files.
• Prepare financial advisory proposals and client meetings.

Skills

Excellent oral and written communication

Strong attention to detail

Active listening

Ability to manage multiple projects

Ability to work independently and in a team

Education

Health and Life Insurance license

Series 6 and Series 63 certification

Industry experience preferred

Job description

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Director of Talent Acquisition and Human Resources at Northwestern Mutual

Incumbent must be contracted as Associate Financial Representative and complete appropriate registration requirements to include:

·Series 6 (and Series 63 in applicable states) registration allows you to work with variable annuity, variable life, and mutual funds.

·Series 7 allows you to work with equities, fixed income, options, brokered CD’s and US Treasuries

·Life & Health Insurance licensed

Overall Function:

An investment operations associate specializes in client service and processing of variable products and investment accounts and ensuring the maintenance of an efficient and compliant office, allowing the financial advisors to focus on building client relationships. The associate is a liaison between the home office and the financial advisor.

At the discretion of the advisor, responsibilities may also include preparing planning presentations using the PX system, processing proposals and preparing annual review paperwork. If the associate is making suggestions or alternatives regarding the preparation of the PX plan, the associate will require Series 7 licensing. The associate role also includes the following responsibilities:

·Obtain all necessary information along with specific instructions from the financial advisor for PX input (all modules including asset allocation)

·Open PX file and provide required input for all sections and modules

·Input each security’s value and cost basis information in the corresponding account

·Contact investment specialist or OED to classify all unclassified holdings

·Input risk tolerance questionnaire and select customization level

·Verify paperwork is completed correctly and relay information that is still needed to advisor

Support:

·Handle case notes, processing correspondence, maintaining client case files, and filing new statements, account forms and other insurance and investment related materials

·Responding to home office inquiries

·Ensuring NMIS and insurance compliance requirements are implemented and followed

·Maintaining annual review notes in Envestnet and mailing annual review letters to clients

Proposal and Case Preparation:

·Gathering information for financial advisor’s meeting with client/prospect

·Preparing advisory annual review information

·Preparing and modifying PPA and investment/advisory proposals

·Preparing letter of instruction for client signature

·Preparing investment policy statement, needs-based analysis, or financial plan

·Recommending fund portfolio options

Processing Accounts:

·Preparing and processing all paperwork needed for investment/advisory accounts

·Identifying need for switch letter and mailing appropriate forms to clients

·Discussing potential rollover opportunities from other retirement plans for variable and mutual funds

·Receiving and forwarding checks and related paperwork to investment operations area

·Processing proposal amendments in Envestnet

·Monitoring Envestnet for alerts and upcoming annual reviews

·Processing and monitoring funding of advisory account and asset transfers to ensure selected asset allocation is implemented

Client Service:

·Corresponding with advisors to handle investment related service issues

·Formulating investment product solutions for a client or explaining advisory products or advisory performance

·Processing asset movement requests

·Discussing tax consequences, costs, and fees with the advisors

·Maintaining daily tickler system for account follow-ups and service requirements

·Performing cashiering functions

·Running performance reports in Envestnet, Morningstar and NMCIR

Qualifications:

·Health and Life licensed or gain licensing within 6 months of employment

·Financial Service or Insurance industry experience preferred

·Series 6 (or Series 7 for certain products) required and Series 63

·Demonstrated ability to maintain effective working relationships with multiple advisors

·Excellent oral and written communication skills

·Able to practice active listening and communicate in a direct manner

·Strong attention to detail with the ability to work with a high degree of accuracy

·Ability to manage multiple diverse projects and assignments in a timely and quality manner

·Willingness to learn

·Ability to embrace change and work in a fast-paced environment

·Able to work both independently and on a team

·Ability to maintain confidentiality

Seniority level

• Seniority level

  Entry level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Management and Manufacturing

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