What are the responsibilities and job description for the Compliance Sr Spec position at Securian?
Overview:
The Compliance SR Specialist will perform annuity suitability reviews and record suitability decisions as a principle accepting new business applications on behalf of Securian when appropriate. This role records suitability decisions through assessing completeness of supporting documentation and analyzing the enforceable standard regarding the annuity that Financial Professionals are held to when dealing with clients. In this role you will build relationships and collaborate with internal annuity teams through sharing of your annuity product knowledge and suitability expertise. You will play a critical role to ensure Securian is doing the very best for our clients while supporting the continued growth of annuity products.
Responsibilities Include But Not Limited To:
- Review and analyze disclosure paperwork and supporting financial documents to assess financial suitability of annuity products based on revenue, expenses, state, and federal guidelines against supporting data provided with application.
- Interpret and summarize findings to provide business recommendation for approval or decline.
- Consult with application stakeholders on exception or accommodations requests that increase the risk profile of the transaction, seeks clarification, makes recommendations to remediate risk and place business.
- Conduct pre-suitability review of annuity cases that involve unique circumstances where historical precedent may not exist.
- Provide detailed trend analyses on suitability data, recommendations and execution of form changes and supporting procedures to management; serves as a system expert for assigned processes and related data and resolves non-standard issues that arise from system and processing errors.
- Create and maintain suitability procedures for use by internal associates.
- Lead or assist in the research and summary findings for internal, external, state and regulatory audits.
- Monitor and interpret updates from industry, state and federal regulatory sources and coordinate with legal and compliance to implement and communicate essential changes to all stakeholders impacted.
- Conduct quality review of annuity applications to ensure compliance with industry standards, regulations and internal turnaround times are met.
- Coordinate client surveys on the suitability and understanding of their annuity purchase, review for competency and follow up as needed.
- Attend periodic industry conferences to ensure compliance and understand industry related trends.
Qualifications:
- Series 6 and 26 or successful completion of the Series 6 and 26 licenses within 4 months of start date.
- General understanding of annuity products and the need to appropriately balance the interests of all stakeholders involved in administering annuity contracts.
- Understanding of state regulations and industry standards regarding suitability and impacts to annuity processing.
- Communication skills (verbal and written) to respond to questions, explain suitability requirements and to develop strong working relationships with internal and channel partners.
- Organization and time management skills to manage multiple activities with competing deadlines.
- Attention to detail to ensure consistency in conducting suitability reviews.
- Analytical and problem-solving skills to critically review requests for exceptions.
#LI-Hybrid
Preferred Qualifications:
- Knowledge of individual annuity products, the marketplace in which these products are used and compete, and the distribution systems available in the marketplace.
- Understanding of the SEC, state, and tax regulations and the respective impact on individual annuity administration functions.
- Understanding of the different IRS plan types in the marketplace and how annuities can be used to fund them.
Physical Job Requirements:
- Ability to utilize keyboard, mouse and computer for up to 8 hours per day up to 8 hours per day
- Ability to work at least 40 hours per week
- Ability to utilize telephone for up to 8 hours per day
- Ability to perform grasping tasks throughout the entire work day. (examples: handwriting, grasping of equipment/machines, paper manipulation, sorting, folding, handling stacks of paper)
Securian Financial has been around for 140 years. We're committed to giving back to our community, donating 15,000 employee volunteer hours this past year. We also provide extensive resources to our employees for professional development and growth and a number of diverse professional and social opportunities throughout the company. There's a reason our employees have voted us as a best place to work year after year! In addition:
- Generous paid time off. We want you to take time off for whatever matters most to you!
- Tuition reimbursement program. We value continuous learning at Securian!
- Company-funded pension plan as well as 401K retirement plan - great resources to secure your financial future.
- Continuous opportunities for new challenges.
- Variety of health plan options as well as dental and vision plans.
- Paid maternity/paternity leaves.
Securian Financial Group, Inc. does not discriminate based on race, color, religion, national origin, sex, gender identity, sexual orientation, age, marital or familial status, pregnancy, disability, genetic information, political affiliation, veteran status, status in regard to public assistance or any other protected status. If you are a job seeker with a disability and require an accommodation to apply for one of our jobs, please contact us by email at Employment@Securian.com, by telephone 651-655-5522 (voice), or 711 (Relay/TTY).
To view our privacy statement click
To view our legal statement click
Securian Financial Group, Inc. considers applicants for all positions without regard to race, color, creed, religion, national origin, sex, gender identity, sexual orientation, genetic information, age, marital or familial status, status with regard to public assistance, disability, or Veteran status. All applicants will be considered solely on the basis of their qualifications.