Senior Sales Practices Compliance Investigator

Northwestern Mutual; Milwaukee (WI); On-site; USD 70,000 - 105,000; Full time

Job summary

Northwestern Mutual in Milwaukee, WI, is seeking a Market Conduct professional to resolve complex complaints from clients and regulators relating to insurance and securities products. You will investigate sales practices, coordinate with the law department, and ensure timely, compliant resolutions.

The role requires 3–5 years of relevant experience, FINRA SIE and Series 6/26 or 7/24, and strong communication and conflict-resolution skills.

Qualifications

• Bachelor's Degree Preferred or equivalent combination of education and experience in Business Administration, Finance, Marketing, or Pre-Law preferred.
• FINRA SIE, FINRA Series 6 and 26 or Series 7 and 24 required or can be obtained within 6 months
• Minimum of 3 to 5 years of relevant experience.
• Experience in the financial services, Insurance, or Investment industry preferred.
• Proven ability to diffuse difficult clients, resolve conflict, and handle difficult conversations.
• Ability to negotiate reasonable resolutions with policyowners, field, home office, and regulators.
• Knowledge of insurance and investment products and operations.
• Case-related travel is required on occasion.

Responsibilities

• Determines resolutions in response to sales practices complaints filed against the field force involving non-standard and sensitive issues.
• Complaints involve all products and services provided by Northwestern Mutual (NM).
• May require extensive research and consultation with the law department and other Home Office experts.
• Corresponds and interacts with clients and the field, in order to ensure timely resolution of complaints in an efficient, cost-effective and cooperative manner thereby preserving the reputation of NM.
• File Error and Omissions and bond claims following resolution when appropriate in order to minimize NM's cost of resolution.
• Conducts comprehensive investigations of field sales practices, including suspected fraud, violations of company policy, and FINRA and State Insurance Department laws and regulations.
• Investigations may include field audits and interviews with field representatives and field staff.
• Conducts research of state laws, regulatory rules, and company policies and procedures, which may include consultation with lawyers and other Home Office experts in order to determine appropriateness of field activity.
• Determines appropriate course of disciplinary action, which may include issuing disciplinary letters, recommending fines or the implementation of enhanced supervision, presenting the representative to the Market Conduct Committee for disciplinary action and/or recommending contract termination.
• Ensures that all incidents (complaints, terminations, etc.) are reported to the Regulatory Reporting Team responsible for reporting or to the appropriate reporting regulatory agencies in the proper manner within the time frame dictated by regulation.
• Responds to state insurance department inquiries that are received when a representative is terminated for cause, as a result of a sales practices complaint or investigation.
• Responds to state insurance department inquiries that are received when a representative is terminated for cause, as a result of a sales practices complaint or investigation.
• Communicates effectively with the field, consistently demonstrating a clear understanding of all Northwestern Mutual products, policies and procedures.
• Helps the field grow their business the right way by providing guidance and education on compliance and sales practices issues.
• Participates in committees, special projects, divisional meetings, and case studies, as determined by division management
• Assists the Law Department in Market Conduct related litigation, including being deposed and providing court testimony.
• Demonstrates leadership by assisting in the development of P1 Sales Practices Specialists through consultation, case referrals, and training.

Skills

FINRA SIE

Series 6/26 or Series 7/24

Client communication

Conflict resolution

Education

Bachelor's degree preferred

Job description

Northwestern Mutual in Milwaukee, WI, is seeking a Market Conduct professional to resolve complex complaints from clients and regulators relating to insurance and securities products. You will investigate sales practices, coordinate with the law department, and ensure timely, compliant resolutions.

The role requires 3–5 years of relevant experience, FINRA SIE and Series 6/26 or 7/24, and strong communication and conflict-resolution skills.