Under general direction, the Sr. Trade Review Analyst ensures conformance to Stifel Policy and Procedures through activities such as, but not limited to, reviewing suitability of life insurance transactions, working closely with Financial Advisors and Branch Supervisors to correct trade details/descriptions for transactions, and executing authority to cancel transactions until an order is deemed to comply. This individual assists in training Trade Review Analysts, and serves as a liaison with the branches and Trade Review team. The Sr. Analyst provides assistance to FAs in using the Insurance database.
- Assesses the merits of an insurance transaction by comparing the clients’ existing portfolio and financial objectives with the knowledge of how the specific product(s) work(s).
- Reviews the trade documentation for completeness and accuracy, comparing elements to product specifications. Verifies product details and notifies the Financial Advisor of any errors or data elements that require further detail or clarification.
- Serves as an authorized individual, in addition to or in the absence of the Trade Review Manager, to review, address and/or resolve special situations, issues or trades.
- Trains new Trade Review Analysts on trade review functions, Stifel’s Policies and Procedures, and industry regulations. Serves as a coach by providing guidance and assistance.
- Works in close collaboration with the Insurance Compliance Officer on trade review processes, product details, and specific transactions, as needed.
- Works closely with the Licensing/Registration and Insurance Operations Departments on a daily basis.
- Professionally handles objections for delayed or cancelled transactions and adequately explains such situations to department manager or senior management.
- Provides assistance to FAs and Sales Assistants related to paperwork requirements, submission process and uploading of requests to the Insurance Database.
- Works closely with Trade Review Analysts I & II to ensure completeness and consistency in the validation of the data on transactions.
- Special projects and other duties as assigned
KNOWLEDGE & SKILLS
- Product Knowledge -
- Expert knowledge of Life, Long-Term Care and Disability and the ability to stay current with product changes.
- Working knowledge of all brokerage products, specifically annuities, mutual funds, UITs, ETFs, and the managed funds program.
- Knowledge of multi-branch brokerage retail system. A balanced temperament to work in an environment that stresses customer service and upholding company policies while delaying or canceling transactions.
- Proficient in Microsoft Outlook, Microsoft Office Suite and web-based programs.
- Law and Government -
- General knowledge of laws, tax codes, precedents, government regulations, and agency rules; familiarity with compliance issues surrounding insurance products.
- Understand the tax ramifications of insurance products and current tax codes that apply to these transactions.
- Knowledge of FINRA regulations, sales practices, and issues on Investment Company act products.
- Strong working knowledge of state insurance regulations and the ability to keep current with states specific rule changes.
- Understands retirement plan rules and the tax ramifications associated with them.
- Able to organize, prioritize and manage multiple tasks, responsibilities and deadlines; is able to follow through and accomplish goals, manage expectations appropriately and use firm’s resources efficiently. The ability to work effectively in a high volume department and extremely detailed work environment.
- A balanced temperament to work in an environment that stresses customer service and upholding company policies while delaying or canceling transactions.
- Demonstrates professionalism, integrity, maturity, intellectual curiosity, initiative and good judgment; takes pride of ownership for wins and accountability for losses/mistakes.
- Able to consider the relative costs and benefits of potential actions and choose the most appropriate one that provides a benefit to the client.
- Giving full attention to what other people are saying, taking time to understand the points being made, and asking questions as appropriate.
- Talking to others or structuring and delivering information and/or presentations in order to convey information effectively
- Bachelor’s degree in Finance or related field
- 5+ of experience working in financial industry
- Series 7, 66, 24 and Resident State Insurance License (Life and Health)
- 5+ years insurance products or internal/external wholesaling experience