CRU Supervisory Principal

CRU Supervisory Principal

The CPWM Central Review Unit (CRU) is responsible for the quality control, review and principal approval of insurance and annuity transactions. 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 includes 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. 187 and FINRA Rule 2330) and provides pre-trade supervisory/principal approval of these transactions.

Key Responsibilities:

• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients, and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.
• 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 in accordance with Firm Policy.
• Responsible for staying informed of annuity and insurance product changes, closures, rate changes and evaluating impact on reviews.

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)
• 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

Qualifications:

• 5 -8 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
• BA/BS or equivalent industry experience
• Required Securities Licensure
  • Series 7 License
  • Series 63 or 66.  Series 65 (optional)
  • Series 8 or Series 9 and Series 10 or Series 24
• 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.

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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.

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