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FFS Registered Principal

Job Description

  
We are Farmers! 
  
Join a team of diverse professionals at Farmers to acquire skills on the job and apply your learned knowledge to future roles at Farmers. Farmers Insurance also offers extensive training opportunities through the award winning University of Farmers named by Training magazine amongst top 10 corporate training units in the world. 
  
Want to learn more about our culture & opportunities? Check out farmers.com/careers and be sure to follow us on Instagram and LinkedIn!
 
Job Summary 
  
Reviews and approves new account applications and transactions to assess compliance with Farmers Financial Solutions (FFS) policies and regulations. 
  
Essential Job Functions 
  
  • 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.  
  
Physical Actions 
  
Sits or stands for extended periods of time, up to a full work shift. Occasionally reaches overhead and below the knees, including bending, twisting, pulling, and stooping. Occasionally moves, lifts, carries, and places objects and supplies weighing 0-10 pounds without assistance. Listens to, interprets, and differentiates auditory information (e.g. others speaking) at normal speaking levels with or without correction. Visually verifies and reads information. Visually locates material, resources and other objects. Ability to continuously operate a computer for extended periods of time, up to a full work shift. Physical dexterity sufficient to use hands, arms, and shoulders repetitively to operate keyboard and other office equipment up to a full work shift.  
  
Physical Environment 
  
This position operates in an open office working environment which will include normal and customary distractions, noise, and interruptions. 
  
Education Requirements 
  
High School Diploma or equivalent required. Bachelors Degree preferred. FINRA Series 6 or 63 required, FINRA Series 26 required or achieved within 90 Days. FINRA Series 51 required or achieved within 180 Days. Other qualifying exams may include FINRA Series 7. 
  
Experience Requirements 
  
Minimum one year in the insurance, financial, or banking industry required. 
  
Special Skill Requirement 
  
  
Farmers is an equal opportunity employer, committed to the strength of a diverse workforce. 

Schedule: Full-time

Job Posting: 06/25/2020