What are the responsibilities and job description for the Compliance Supervisory Principal position at Bankers' Bank?
Bankers' Bank is a fast growing financial institution with over 1.5 Billion in assets committed to assisting community banks with their payment and financial service needs and 40 years of dedication to our community bank partners. In addition to specializing in providing correspondent banking products and services to community banks we also provide bank holding company loans, commercial loans, leasing, secondary mortgage products, cash letter/cash management, investment trading, safekeeping, portfolio accounting, correspondent credit services, international services, and bank card products. Bankers' Bank has offices in Madison, WI, Des Moines, IA, Chicago, IL Indianapolis, IN, Michigan and Ohio.
Bankers' Wealth Management is seeking a Compliance Supervisory Principal to be the lead supervisor for OSJ advisors and Bank Financial Services Programs. This role will be located within our business market. The Supervisory Principal is responsible for maintaining ongoing relationships with their designated advisors and Programs to educate, guide, and assist them with their compliance responsibilities. They will act as a point of contact and assist where necessary to help build compliant business partnerships with Bankers Wealth Management and LPL Financial.
The Supervisory Principal will be responsible for ensuring that the assigned financial advisors are meeting the standards and requirements of supervision set forth by regulatory agencies and the Firm.
Position Responsibilities include:
- First line supervisory responsibility for assigned advisors and Programs as part of a supervisory team
- Maintains ongoing positive relationship as a first line Supervisor, guide and resource to all advisors/Program Managers and support staff in collaboration with the Bankers Financial Services Network OSJ.
- Ensures advisor compliance with all firm and industry requirements by proactively communicating the firm's policies and procedures
- Engages in regular supervisory office visits (SOV's) with advisors and Program Managers in order to promote company supervisory practices, follow up on audit findings and proactively addressing potential compliance issues to minimize risk to the client, the OSJ and the firm
- Identifies suspicious patterns in sales and business practice. Conducts investigations and takes appropriate corrective action as needed in collaboration with the RTM and other LPL Financial internal business units
- Identifies and executes training based on advisor needs and opportunities
- Actively monitor the supervisory systems for their assigned advisors and Programs and assist in the resolution of heightened transaction review issues and various other situations where the first line supervisor must be involved and make the final decision
- Acts as a conduit of information between LPL Home Office, OSJ and the field to assist with problem solving.
- Assist with regulatory exams and requests as well as assist with other internal investigations and reviews relative to supervised advisors and Programs.
- Ability to make regulatory and supervisory-based decisions.
Ideal candidate will possess five or more years Compliance supervision and broker dealer operations experience, undergraduate degree in Business, Accounting, Finance or other related field or an equivalent combination of education and experience sufficient to perform the position functions of the job, strong. demonstrated knowledge of FINRA SEC, and state rules and regulations, Knowledge of mutual funds, annuities, general securities, and other financial products, experience with Microsoft applications. Licenses/Certifications required; Series 7, 9 /10 (or Series 24) Series 66, Life and Health. Series 4 and 53 preferred.
