IPS Suitability Principal

Overview:
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As a Fortune 50 company, we hire the best employees to serve our customers, making us a leader in the insurance and financial services industry. State Farm embraces diversity and inclusion to ensure a workforce that is engaged, builds on the strengths and talents of all associates, and creates a Good Neighbor culture.

We offer competitive benefits and pay with the potential for an annual financial award based on both individual and enterprise performance. Our employees have an opportunity to participate in volunteer events within the community and engage in a learning culture. We offer programs to assist with tuition reimbursement, professional designations, employee development, wellness initiatives, and more

Visit our Careers page for more information on our , and of joining the State Farm team

Responsibilities:
As a member of the Investment Planning Services (IPS) Principal Review team, you will be among professionals who are challenged and empowered to grow professionally. If you like variety and collaboration, we have all that to offer as no two cases are exactly the same. As a small team operating within IPS, our ability to work with Agents, Life and IPS business partners is critical to making decisions that drive pace and create an exciting work environment. 

A successful candidate will possess the ability to leverage product and licensed principal reviewer knowledge to assess and evaluate agent recommendations for suitability and best interest practices for all offered products. This will require a solid understanding of the regulatory environment, suitability and best interest policies, guidelines, practices and procedures. Candidates will need to demonstrate ability to collaborate with key business areas, peers and leadership. 

Reviews and makes decisions regarding new brokerage/529/advisory accounts, Life Insurance and fixed and variable annuity policy applications; evaluates supporting documentation to verify proper suitability of product/fund selections in accordance with procedures, guidelines and legislative requirements under FINRA/SEC/NAIC/State regulations. 

Reviews best interest standard recommendations and evaluates for acceptance/rejection or additional information on offered products/transactions.

Evaluates suitability aspect of Life Insurance which may include coordination with Life Underwriting as needed for Life policy review obligations under New York Regulation 187.

Communicates effectively with internal/external customers/business partners; ability to seek clarity of information and explain review decisions with agents.

Effective written communication: ability to document thorough case notes and decision rationale in professional and concise manner. 

Interprets financial terminology and concepts; suitability/best interest procedures, guidelines, legislative and regulatory requirements.

Develops knowledge of brokerage/529/advisory/annuity products and systems to evaluate and oversee appropriate customer best interest recommendations. 

Develops strong workstation skills to navigate appropriately between tools to complete reviews and associated documentation.

Reviews and develops recommendations to enhance suitability and best interest standard processes, procedures, and technologies. 

May assist and/or represent the Suitability unit on projects or committees, or other assignments as directed, which can involve analytical, technical and research activities.

May work exception reports or controls as needed.

Qualifications:
Required:

Obtain the FINRA SIE, Series 6 and Series 26 securities licensing exams. Series 51 securities licensing exam may be required.

Fingerprinted and maintain current securities licensing and on-going sponsorship.

Incumbents must sign the Acknowledgement and Consent to Telephone Monitoring, and the Acknowledgement of Policy on Personal Account Transactions/Acknowledgment of E-mail Retention and Supervision Policy Forms. 

Selected candidates may require an additional background check.

Preferred: 

Knowledge of financial products, mutual funds, annuities and 529 College Savings Plans. 

Competencies: Decision Making and Judgement; Communication, Resourcefulness, Customer Focus, Accountability, Teamwork

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