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GENERAL FUNCTION:
Performs brokerage and insurance regulatory sales supervision functions for the broker-dealer and insurance agency subsidiaries of the Bancorp. Mitigate risk of loss and regulatory risk incurred by Fifth Third Securities.
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Approves or rejects a subset of business processes including rollovers, securities and / or insurance transactions for the broker-dealer, investment advisor and insurance agency.
- Determines whether transactions are in conformance with regulatory requirements, as well as firm and industry standards.
- Determines whether recommended securities and/or insurance transactions are suitable for, and in the best interest of, the client.
- Seeks additional information and related follow-up to evidence the review process, in conformance with requirements.
- Assists with regulatory exams and requests; assists with the maintenance of the department procedure manual.
- The sales supervision review process includes but is not limited to the following: reviewing all variable insurance products and fixed annuities including Variable and Indexed annuities, Variable Universal Life, Long Term Care Products and Immediate Annuities.
- As assigned, reviews all other securities products that appear on the respective blotters including but not limited to Stock, ETF's, Mutual Funds, UIT's, Structured Products, Bonds and Options, review of brokerage new account applications, review of margin and option account applications, review of brokerage account maintenance documents including but not limited to Power of Attorney documents, Limited Trading Authority authorizations, Corporate Resolutions and Transfer of Death designations, review of advisor email correspondence, review of and approval of mutual fund trade corrections, review of new business forms for the Registered Investment Advisor and review of 529 College Savings Plan applications.
- As assigned, reviews rollovers in accordance with Firm RegBI processes and procedures.
- Partners with the Compliance, Brokerage Operations, Technology and Sales leaders in the organization to ensure a best-in-class sales supervision program.
- Conducts informal business practice reviews to identify trends and/or irregular trading activity.
- Any and other duties as assigned by departmental supervisors or other leaders as appropriate.
MINIMUM KNOWLEDGE AND SKILLS REQUIRED:
- High school diploma or equivalent required.
- Bachelors degree in Finance, Economics or related field preferred.
- 2 years brokerage or related work experience.
- Series 7, 63, and 24 are required to be obtained as documented in the Fifth Third Securities Licensing Guidelines. Strongly encouraged to obtain Series 4, 53 and 66, as well as a life and health insurance license.
- Extensive knowledge of the following investment products: Annuities, Stocks, ETF's, ETN's, Mutual Funds, UIT's, Structured Products, Corporate Bonds, Government Bonds, Municipal Bonds, Brokerage CD's and Options preferred.
- Knowledge of FINRA, SEC, MSRB and State Securities rules and regulations.
- Familiarity with National Financial Services and FIS Protegent Prosurv systems preferred.
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Posting through 5/13/24
Principal Review Specialist -Virtual FootprintTotal Base Pay Range 53,200.00 - 101,300.00 USD AnnualLOCATION -- Virtual, Ohio 00000Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.
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