Suitability Principal

About the role

Mutual Opportunities is seeking a Suitability Principal to join the MML Investors Services (MMLIS) Cashiering department. This role involves conducting back-office suitability reviews and firm-acceptance for accounts clearing through National Financial Services (NFS), handling death and divorce related transfers, and managing daily transactions.

Responsibilities

• Conduct back-office review and firm-acceptance of Broker Dealer business submissions including Corporate RIA accounts, Brokerage accounts, Options accounts, 529 plans, money movement, transfers, and account maintenance.
• Handle the review of death and divorce related transfers between accounts, federal wire disbursements, international money movement, restriction removals and collateral releases.
• Aid in the processing of daily transactions by reviewing and approving for accuracy, alignment with client instructions and internal policies while multitasking and prioritizing duties throughout the day to ensure timely resolution.
• Work independently and in a team environment on these duties for individual and team wide success.
• Determine root cause of issues, provide solutions, and resolve matters independently without management supervision.
• Implement and manage operational and supervisory procedures for the firm.
• Effectively communicate with registered representatives, agency personnel, and internal business partners such as Compliance, Field Inspection, and Regional Supervisory Directors.
• Specialized regulatory knowledge of securities such as Options trading, Municipal Securities, Mutual Fund classifications and Margin regulations may be required.
• Involvement in complex problem resolution requiring higher level critical thinking daily.
• Consistently identify and report to management on trending and risk mitigation measures.
• Engage with specialized professional personnel/departments at MMLIS and NFS, such as Legal, Compliance, Anti-Money Laundering, Risk and Margin.
• Become well versed in retirement products, Internal Revenue Service (IRS) regulations and banking services/workflows (e.g., clearing house, pre-note, federal wire, intermediary banking).

Requirements

• FINRA Series 7 & 24 at time of application
• 2+ years MMLIS experience and / or 3+ years' experience with Brokerage/Advisory Transfer of Assets or Money Movement transactions
• High School Diploma/GED/HiSET
• Candidates residing within 50 miles of the MassMutual Springfield office will be expected to work a Hybrid schedule of 3 days a week in the office

Qualifications

• 3+ years MMLIS experience and / or 5+ years' experience conducting suitability reviews within the brokerage/advisory space
• Extensive working knowledge or ability to learn the following systems: ICP, A360, Case Manager, Wealthscape, GIACT, Accurint/LexusNexus, FBSI, and Envestnet’s ENV2 platform
• Ability to work in a fast paced, ever-changing environment
• High degree of ownership and sense of urgency
• College degree preferred with a concentration in business or finance
• Passion for embracing business process improvement opportunities
• High aptitude for effective problem resolution
• Must be able to think independently and tactfully challenge the opinions of others
• Superior customer service skills
• Ability to work in a fast paced, ever-changing environment
• Excellent interpersonal skills; team player, self-motivated; patient demeanor; approachable style
• Strong organizational and time management skills are essential

Benefits

MassMutual offers a comprehensive benefits package designed to support your overall well-being and that of your loved ones. This includes medical, dental, 401(k), generous vacation time, and additional perks like three paid days for volunteering, a $1,250 annual Well-Being Wallet, and up to 320 hours of caregiver leave.

Pay

$69,000 - $90,500

Schedule

Hybrid schedule of 3 days a week in the office and 2 days remote