Sales Practices Consultant

About the Job

Within the Market Conduct team in Enterprise Compliance, this role resolves complex and sensitive complaints from clients and various regulatory entities regarding the sale or servicing of all insurance and securities products. Investigates sales practice matters acting as an expert compliance resource for the division, department, Enterprise, and field. Provides leadership within the division and guidance to the field force to promote the Company's best business practices.

• Determines resolutions in response to sales practices complaints filed against the field force involving complex 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 rep 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.
• Serves as an expert compliance resource to others in the Field and the Home Office in order to ensure best practices. This may involve extensive research of Company policy and/or regulatory rules and educating the Field and Home Office on the benefits of using best business practices.
• Assists in the development of Sales Practices Specialists and Senior Specialists through training, consultation, case referrals and providing specific performance feedback directly to the Specialist and to the division manager.
• Provides leadership within the division by participating in and leading project teams to enhance controls and develop process improvements within the division, department and/or company. Leads group meetings including experts in various departments in order to come to consensus or resolution regarding customer complaints or actions taken regarding the field.
• Assists the Law Department in Market Conduct related litigation, including being deposed, providing court testimony and participating in mediations.

• Bachelor's Degree Preferred or equivalent combination of education and experience in Business Administration, Finance, Marketing, or Pre-Law preferred.
• FINRA SIE, Series 7 & 24 required or can be obtained within 6 months
• Minimum of 6 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 understand and interact with all types of clients, field and home office partners. Works with and educates senior management, clients, regulators and vendors to influence decisions.
• Strong ability to negotiate reasonable resolutions both verbally and in writing on complex non-standard compliance…