CRU Supervisory Principal
The CPWM Central Review Unit (CRU) is responsible for the quality control, review and principal approval of insurance and annuity transactions and the Registered Principal review and provision of the required regulatory approval for internal communications and external communications with the public related to the CPWM Investment business. Including internal use only content and materials developed by external product providers for multiple U.S. based business units. The CRU Supervisory Principal is directly responsible for the review of insurance and annuity transaction that are submitted for processing and approval by Financial Advisors. This review will include an analysis of transactions, including replacement transactions for compliance with Firm policies and procedures, as well as adherence to state and FINRA regulatory requirements (including NY State Regulation 60 and FINRA Rule 2330), and provide pre-trade supervisory/principal approval of these transactions. This is a dual role position that also provides Register Principal review and approval for designated materials as assigned within the CRU.
- Responsible for maintaining knowledge of applicable regulations and ensuring that the various reviews are conducted in compliance with applicable laws, regulations, and internal procedures.
- Review and principal approval for life insurance and annuity transactions, including Replacement/Exchanges and NY State Regulation 60 transactions for completeness of forms, documentation of disclosures to clients, compliance with Firm policies, procedures, and processes.
- Evaluate proposed transaction and determine appropriateness of proposed transaction, including an analysis of any proposed exchange/replacement transaction, including complex exchanges.
- Verify information provided on transaction review forms by contacting the insurance companies, Financial Advisor or by referencing product materials.
- Determine whether a proposed transaction may proceed based on compliance with Firm policies & procedures, analysis of cost/benefit for the transaction and overall transaction suitability determination.
- Evaluate proposed transactions with Financial Advisors and Sales/Supervisory Management and advise them accordingly on appropriateness of proposed investment strategy for the client.
- Maintain accurate records and reporting of cases reviewed and their disposition.
- Responsible for staying informed of annuity and insurance product changes, closures, rate changes and evaluating impact on reviews.
- Responsible for maintaining an awareness of relevant investment products and services, communications with the public rules and regulations, as well as Firm processes and procedures.
- Coordinate marketing material submissions and Registered Principal review and approval with Third Party Product Providers and Product Management.
- Responsible for conducting Registered Principal review of external product marketing materials, including Third Party brochures, presentations, fact cards and other designated materials as assigned.
- Responsible for maintaining records of approvals as required by regulators and in accordance with Firm policy.
- Conduct second level review and approval to produce ADV2Bs.
- Manage the onboarding and ongoing monitoring for Access Person requirements, including second level review, acceptance, and coordination of the requirements.
- Other duties as assigned, including back up support for the Lead Registered Principal for internally created marketing materials and second level reviews.
- 3 -5 years of experience in a similar role, with 8+ years of experience in the financial services industry
- Progressive levels or experience and job responsibilities
- Experience as a supervisor with a bank-based or independent brokerage model a plus
Skills & Competencies:
- Knowledge of FINRA, SEC and State Rules and Regulations
- Knowledge and expertise in investment product, with expertise in insurance and annuities (both domestic and offshore)
- Knowledge and expertise with communications with the public and internal use only content related to broker dealer materials
- Technical know-how, commercial awareness and analytical skills coupled with an understanding of risk/reward dynamics
- Knowledge of corporate governance including regulated practices. Applies and complies with applicable internal and external policies. Demonstrates strong ethics
- Ability to identify issues and trends, evaluate alternatives and recommend comprehensive and innovative solutions to complex problems
- Organized and process oriented, with an ability to multi-task, work under pressure, prioritize work and meet deadlines
- Solid work ethic and proven professionalism and a positive attitude
- Outstanding interpersonal and communication skills (both written and verbal)
- Strong analytical problem solving skills and detailed oriented
- Computer skills, including knowledge of Microsoft Word, Excel and Power Point
- BA/BS or equivalent industry experience
- Required: Series 7, 63/65 or 66, 24 *A qualified candidate maybe considered if he/she has a Series 9 &10 and is willing to obtain Series 24 within 6 months of hire.
- Insurance License required in addition to Series licenses list above. * A qualified candidate maybe considered if he/she is willing to obtain an Insurance License within 6 months of hire.
Job Family Group:Risk Management
Job Family:Business Risk & Controls
Time Type:Full time
Citi is an equal opportunity and affirmative action employer.
Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
Citigroup Inc. and its subsidiaries ("Citi”) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi.
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Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.
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