Remote Suitability Principal & Money Movement Lead

MassMutual; Boston (MA); Hybrid; USD 69,000 - 91,000; Full time

Job summary

MassMutual is hiring a Suitability Principal to conduct back-office suitability reviews and firm-acceptance for accounts clearing through National Financial Services (NFS). You will oversee money movement, transfers, and account maintenance while leading with accountability, inclusivity, and strong business judgment.

You will collaborate with Compliance, Field Inspection, and regional directors, and you'll apply regulatory knowledge for options, municipal securities, mutual funds, and margin

Qualifications

• FINRA Series 7 required at time of application
• Must obtain FINRA Series 24 within 90 days of hire
• 2+ years MMLIS experience and/or 3+ years' experience with Brokerage/Advisory Transfer of Assets or Money Movement transactions
• High School Diploma/GED/HiSET
• Principals working 100% remotely may be subject to on-site inspection by MML and/or regulators
• Candidates residing within 50 miles of the MassMutual Springfield office will be expected to work a Hybrid schedule of 3 days a week in the office

Responsibilities

• Conduct back-office review and firm-acceptance of Broker Dealer business submissions including Corporate RIA accounts, Brokerage accounts, Options accounts, 529 plans, money movement, transfers, and account maintenance
• Handle the review of death and divorce related transfers between accounts, federal wire disbursements, international money movement, restriction removals and collateral releases
• Assist in the processing of daily transactions by reviewing and approving for accuracy, alignment with client instructions and internal policies while multitasking and prioritizing duties throughout the day to ensure timely resolution
• Working independently and in a team environment on these duties for individual and team wide success
• Determine root cause of issues, provide solutions, and resolve matters independently without management supervision
• Implementation and management of operational and supervisory procedures for the firm
• Ability to effectively communicate with registered representatives, agency personnel, and internal business partners such as Compliance, Field Inspection, and Regional Supervisory Directors
• Specialized regulatory knowledge of securities such as Options trading, Municipal Securities, Mutual Fund classifications and Margin regulations may be required
• Involved in complex problem resolution requiring higher level critical thinking daily
• Consistently identify and report to management on trending and risk mitigation measures
• Engage with specialized professional personnel/departments at MMLIS and NFS, such as Legal, Compliance, Anti-Money Laundering, Risk and Margin
• Become well versed in retirement products, Internal Revenue Service (IRS) regulations and banking services/workflows (e.g., clearing house, pre-note, federal wire, intermediary banking)

Skills

FINRA Series 7

FINRA Series 24

Money Movement

Transfers & TA

Education

High School Diploma/GED/HiSET

College degree preferred in business/finance

Tools

ICP

A360

Case Manager

Wealthscape

GIACT

LexisNexis

ENV2 (Envestnet)

Job description

MassMutual is hiring a Suitability Principal to conduct back-office suitability reviews and firm-acceptance for accounts clearing through National Financial Services (NFS). You will oversee money movement, transfers, and account maintenance while leading with accountability, inclusivity, and strong business judgment.

You will collaborate with Compliance, Field Inspection, and regional directors, and you'll apply regulatory knowledge for options, municipal securities, mutual funds, and margin