- Analyzes less complex, new account and first transaction paperwork to determine if the account and transaction are suitable for the client based upon factors such as the client’s income, net worth,time horizon, investment objectives, risk tolerance, etc.
- Less complex transactions typically involve those less than $500,000 in investment amount and/or those that do not require assistance or a second level of approval by a senior principal or a manager.
- Determine whether transactions entail compliance violations including (but not limited to): inappropriate churning, mutual funds switched, below breakpoints sales, rollovers/replacements and qualified accounts sales.
- Escalate violations and create supervisory cases for compliance to follow up. Enter the New Account and transaction into the FFS system of record to facilitate commission payments, recordkeeping, and reporting as well as performing other ad hoc duties as assigned.
- Forward sponsor forms to applicable sponsor and ensure proper and timely receipt.
- Review and update existing customer accounts into FFS recordkeeping system. Follow-up with Agents and District Managers on deficient paperwork and suitability concerns, which may include phone calls, returning the business to agents, generating letters to agents etc.; review various management and exception reports to help ensure timely receipt of account documentation.
- Ensure payments for security transactions are in accordance to policy; i.e. FFS cannot have custody of funds, no Agency checks, proper payees, etc.)
- Make the final determination for FFS regarding whether or not the account and security transaction will be accepted by FFS; sign New Account Form as the registered principal.
- Participate in special projects and events the firm assigns (i.e. Lean training, design thinking and product trainings.)
- Performs agent visits to train, coach and educate agents on the submission of new accounts and utilization of application submission systems.
- Assist and support in other operational cross-functions such as data entry, opening and sorting the incoming mail and help scanning/uploading paperwork.
Job Posting: 06/25/2020