Broker Dealer Operations Suitability Consultant

Description :

Where good people build rewarding careers.

Think that working in the insurance field can't be exciting, rewarding and challenging? Think again. You'll help us reinvent protection and retirement to improve customers' lives. We'll help you make an impact with our training and mentoring offerings. Here, you'll have the opportunity to expand and apply your skills in ways you never thought possible. And you'll have fun doing it. Join a company of individuals with hopes, plans and passions, all using and developing our talents for good, at work and in life.

Job Description

The Broker Dealer Operations Suitability Department is responsible for reviewing all securities transactions submitted by Allstate Registered Representatives, to ensure that suitability guidelines are met and properly documented into the Broker Dealer's Books & Records.

This position will review all purchases and sales submitted by registered representatives, for client suitability utilizing defined parameters. This role requires the ability to provide feedback regarding the registered representatives' adherence to AFS suitability parameters, and to ensure that all required documents are on file and completed accurately.

Key Responsibilities:

  • Review security transactions to determine client suitability utilizing firm documents and defined parameters. Approve all trades and transactions as a Principal of the Firm.
  • Communicate via phone or e-mail with registered representatives suitability concerns or to discuss the rationale behind the transaction to help aid in suitability review. If a transaction is questionable, must be able to discuss with the Registered Representative alternative investment strategies that may be more suitable to the customers' needs.
  • Educate registered representatives on paperwork procedures, product knowledge and suitability documentation. May be required to present to large audiences.
  • Knowledge of different account registration types, i.e., 403(b), IRA, Roth IRA, joint tenants, 401(k), UGMA/UTMA, 529 Plans, etc.
  • Knowledge of FINRA supervisory rules and obligations.
  • Approve or reject applications based on analysis of information provided; requires good independent judgment based on product knowledge, company guidelines, and securities regulation. Document decisions made in the file for FINRA or auditing purposes.
  • Contact agents via phone or written correspondence if trade is being rejected. Must have the ability to do this in an informative and non-threatening manner.
  • Communicate with Sales Managers and Field Compliance Officers on any questionable transactions involving a Registered Representative. Notify Sales Managers if a Registered Representative requires additional product education.

Job Qualifications

  • Requires 3-5 years of financial services experience, prefers sales or suitability analysis experience.
  • Knowledge of FINRA/SEC regulations, and the ability to adapt to an ever changing regulatory environment.
  • Knowledge of and ability to recognize FINRA violations such as churning, breakpoint sales, and switching. Must also have the ability to discuss with Registered Representatives/Sales Management/Compliance Officers effectively in relation to these issues.
  • Advanced level knowledge of all investment products: mutual funds, variable annuities, registered annuities, variable life, stocks, bonds, unit investment trusts and 529 plans. Requires continuous education of these complex products.
  • Strong analytical skills – Must be able to understand and analyze the customer's personal information: risk tolerance, age, liquidity needs, Investment experience, tax status, time horizon, investment objectives, financial situation, and other holdings.
  • FINRA Series 6, 26, and 51 (or 7, 24 & 53) required or the ability to acquire in the timeframe set forth by the Allstate Broker Dealer.
  • Strong understanding of core business processes.
  • High school diploma required; College degree preferred.
  • Moderate Microsoft Applications experience (Word, Excel, Outlook)
  • Advanced communication and presentation skills.
  • Professional judgment, knowledge and expertise.
  • Influences others through subject matter expertise.

The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.

Good Work. Good Life. Good Hands®.

As a Fortune 100 company and industry leader, we provide a competitive salary – but that's just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you'll have access to a wide variety of programs to help you balance your work and personal life -- including a generous paid time off policy.

Learn more about life at Allstate. Connect with us on Twitter, Facebook, Instagram and LinkedIn or watch a video.

Allstate generally does not sponsor individuals for employment-based visas for this position.

Effective July 1, 2014, under Indiana House Enrolled Act (HEA) 1242, it is against public policy of the State of Indiana and a discriminatory practice for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.

For jobs in San Francisco, please see the notice regarding the San Francisco Fair Chance Ordinance.

For jobs in Los Angeles, please seethe notice regarding the Los Angeles Ordinance.

It is the policy of Allstate to employ the best qualified individuals available for all jobs without regard to race, color, religion, sex, age, national origin, sexual orientation, gender identity/gender expression, disability, and citizenship status as a veteran with a disability or veteran of the Vietnam Era.


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