Northwestern Mutual

Practice Management Consultant

Northwestern Mutual • $89K — $134K *
Milwaukee, WI 53215In-Person
Finance & Insurance
5 - 7 years of experience
Today
Be an Early Applicant
Job Overview by Ladders

Qualifications

  • Bachelor's Degree in Business Administration or equivalent experience preferred
  • Minimum five years of experience in financial services, with at least two years in organizational/project management
  • Proven ability to manage multiple projects while maintaining transparency with clients and stakeholders
  • Strong leadership and team-building skills
  • Excellent oral and written communication abilities, including presentation skills
  • Exceptional interpersonal skills for rapport with various levels within the organization
  • Analytical and research expertise to solve complex problems independently

Responsibilities

  • Lead consultant on compliant team compensation incentive plans
  • Influence outcomes in complex, ambiguous situations
  • Serve as a subject matter expert on compensation strategies
  • Develop and maintain policies and training for business growth
  • Guide advisors in creating effective team member compensation plans
  • Formulate solutions while balancing various stakeholders' interests
  • Identify and escalate issues to resolve conflicts promptly

Benefits

  • Support for professional development and growth
  • Access to resources and training for career advancement
  • Opportunities for continuous improvement in operations
  • Collaborative work environment with multiple stakeholder engagement
  • Opportunity to influence compensation strategies and practices
Full Job Description
Summary:

The practice management compensation consultant specializes in helping Financial Advisors design incentive plans that attract top talent ensuring alliance with SEC, FINRA and state insurance regulations. This role requires balancing the talent demands of the financial advisors with complex governance, risk mitigation, and compliance standards.

As an integral consulting partner between the Home Office, Field Supervision and Financial Advisors, you will lead challenging, complex compensation conversations and provide direct consultation and guidance to align the interests of the employing Financial Advisor and the Enterprise.

Primary Duties & Responsibilities:
  • Lead consultant on compliant team compensation incentive plans leveraging best practices.
  • Lead and influences outcomes in situations involving elevated complexity and ambiguity.
  • Subject matter expert on compensation strategies
  • Lead and/or support the development, implementation and maintenance of policies, procedures, resources, and training to support growth of sophisticated practices and drive business results. Adhere to compliant requirements.
  • Work independently to review, provide feedback, and guide advisors on their team member compensation incentive plans.
  • Formulate recommendations and solutions while balancing competing interests and meeting expectations of Career Advisors, Field Supervision, and Home Office Compliance and Legal.
  • Lead alignment with internal stakeholders
  • Assist Network Office Supervisors in individual case circumstances.
  • Provide advisor perspective and challenge conventional thinking
  • Identify and anticipate issues and conflicts; escalate to law and enterprise stakeholders as needed to resolve issues and move teams forward on a timely basis.
  • Identify resource and process improvement opportunities, recommend and implement actions to address them. Drive continuous improvement and operational efficiency.
  • Develop content and present to Network Offices, study groups, etc. on team compensation.
  • Assist Design and Execution team in creating resources for the field.


Knowledge, Skills, Abilities:
  • Bachelor's Degree in Business Administration or equivalent combination of education and experience preferred.
  • Minimum five years of progressively responsible experience in financial services or other business administration functions, to include a minimum of 2 years organizational and project management skills with ability to prioritize, lead, manage, and collaborate in multiple projects.
  • Demonstrated ability to prioritize consulting and project work and make the outputs visible and transparent with both the client and key internal stakeholders.
  • Strong leadership, decision-making and team-building skills.
  • Ability to prioritize workload and seek support when appropriate, as well as work within a larger team.
  • Strong communication skills (oral and written) with ability to make presentations and create written reports.
  • Strong interpersonal skills with demonstrated ability to establish rapport at all levels of the home office and third parties including consultants and potential partners.
  • Strong analytical and research skills with proven ability to absorb complex information and independently solve problems in a dynamic environment.
  • High degree of self-motivation with leadership and initiative in sharing information, contributing towards group goals and accepting responsibility for results.
  • Ability to influence leaders and stakeholders without direct authority, using sound reasoning and credibility.
  • Sound decision-making skills ability to use a mixture of analysis, wisdom, experience, and judgment to arrive at a conclusion or recommendation.
  • Proactive, consultative mindset with the ability to identify and assess any emerging risks or trends.
  • Individual contribution leadership behavior focus: Solve for the Client; Lead with Enterprise Vision; Play to Win.
  • Experience working with Northwestern Mutual Field audience


Compensation Range:

Pay Range - Start:
$89,360.00

Pay Range - End:
$134,040.00

Geographic Specific Pay Structure:

Structure 110:

Structure 115:

We believe in fairness and transparency. It's why we share the salary range for most of our roles. However, final salaries are based on a number of factors, including the skills and experience of the candidate; the current market; location of the candidate; and other factors uncovered in the hiring process. The standard pay structure is listed but if you're living in California, New York City or other eligible location, geographic specific pay structures, compensation and benefits could be applicable, click here to learn more.

About Northwestern Mutual

Northwestern Mutual has been helping people and businesses achieve financial security for more than 160 years. Through a holistic planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what's most important. Northwestern Mutual delivers financial security to millions with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. The company manages billion of dollars of investments owned by its clients and held or managed through its wealth management and investment services businesses. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (securities), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (fiduciary and fee-based financial planning services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance).

Northwestern Mutual Careers

Joining Northwestern Mutual presents a unique opportunity to be part of a team that is dedicated to empowering personal and professional growth, innovation, and leadership in the financial services industry. As a company renowned for its commitment to excellence and a culture that values diversity and inclusion, Northwestern Mutual offers unparalleled job opportunities for both seasoned professionals and those at the start of their careers.

Work You’ll Do

At Northwestern Mutual, we believe in building strong relationships not only with our clients but also among our team members. By joining our team, you will collaborate with some of the most talented professionals in the industry, all united in their commitment to leadership and innovation. Our employees are equipped with top-tier benefits and diversity training that ensure their career journey is both rewarding and inclusive.

Explore Professional Growth and Development

Northwestern Mutual is committed to fostering an environment where career growth is not just a possibility but a priority. With a variety of positions available, from financial representatives to internships for budding professionals, our company is a place where your skills and passion can thrive. We provide extensive training programs and leadership development opportunities that prepare you for success in your current role and beyond.

Innovative Work Environment

Our team at Northwestern Mutual is at the forefront of integrating cutting-edge technology and innovative financial strategies to provide exceptional service to our clients. This focus on innovation is not just about staying current; it's about leading the way in the financial sector. Employees at all levels are encouraged to contribute ideas and take initiative, driving the company forward as a leader in the financial industry.

Be Part of Our Diverse and Inclusive Team

Diversity and inclusion are more than just buzzwords at Northwestern Mutual; they are integral to our company culture and business strategy. We are committed to creating a workplace where all employees can flourish. Our diversity training programs are designed to enhance understanding and foster an inclusive environment for all team members.

Networking and Career Advancement

Networking within Northwestern Mutual opens doors to expansive career advancement opportunities. We encourage our employees to engage in internal networking events, which often lead to mentorship and further career development. Whether you are looking to enhance your resume, prepare for an interview, or step into a leadership role, Northwestern Mutual provides the resources and support to help you achieve your professional goals.

Join Our Team

Search open positions that match your skills and interests. We are looking for passionate, curious, and solution-driven team players who are ready to take their career to the next level. Explore the job opportunities and internships available at Northwestern Mutual and find out how you can contribute to our legacy of innovation and leadership.

Stay Connected

Keep up to date with career tips, insider perspectives, and industry-leading insights you can put to use today—all from the people who work here. Personalize your subscription to receive job alerts, latest news, and insider tips tailored to your preferences. Discover the exciting and rewarding career opportunities that await at Northwestern Mutual.

SEARCH NORTHWESTERN MUTUAL JOBS

Join us and start your journey at Northwestern Mutual today, where your career is nurtured, your skills are honed, and your achievements are celebrated.
Learn more about Northwestern Mutual
Size
7,000 employees
Industry
Finance & Insurance
* Ladders Estimates

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