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Job Details
Description
Job Summary
The Trade Review Analyst verifies account data with the clients Stifel account(s), verifies that the Financial Advisor initiating an annuity transaction is properly licensed and registered, and verifies contract data with insurance companies. The Analyst ensures adherence to Stifel Policy and Procedures by reviewing suitability and best interests of annuity withdrawal & liquidations and cash transactions. The Analyst works closely with Financial Advisors and Branch Managers to correct trade details/descriptions for transactions that likely conform to firm policies and procedures, but do not appear that way based on initial trade details. The Trade Review Analyst has the authority to cancel those transaction types until an order is deemed to comply. This individual assists in training new Trade Review Associates, and serves as a liaison with the branches, Compliance, Marketing, Operations and Trade Review team. The Analyst assists the Sr. Analyst and Supervisor in all aspects of their job with the intent to progress to the next level upon passing required licenses.
Essential Duties & Responsibilities
- Performs the initial review of all Annuity Withdrawals, Sub pays, New Purchases, and Exchanges.
- Ensures that all paperwork has been completed properly and verifies the accuracy of insurance/annuity transactions.
- Ensures that all Stifel acknowledgment letters are completed and signed, and that the transactions have been approved and signed by the appropriate Financial Advisor.
- Ensures that investment objectives and financial information on Stifels Account Demographics match the objectives on the Transaction Detail Report/Acknowledgement Letters.
- 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.
- Assesses the merits of an annuity transaction by comparing the clients existing portfolio and financial objectives with the knowledge of how the specific product(s) work(s).
- Interacts with FAs and Sales Assistants providing information related to errors found or data elements in question. Professionally handles objections for delayed or cancelled transactions and adequately explains such situations to Manager.
- Assists in the training of new Trade Review Associates on trade review functions, Stifels Policies and Procedures, and industry regulations.
- Works closely with the Licensing/Registration and Annuity Operations Departments on a daily basis.
Qualifications
- General knowledge of FINRA regulations, sales practices, and issues on Investment Company act products.
- General knowledge of state insurance regulations and the ability to keep current with states specific rule changes.
- Strong understanding, knowledge and experience of the financial industry.
- Solid understanding of insurance product, Annuity products and insurance companies.
- Solid understanding of annuity contract structure issues for the owner, annuitant and beneficiary and how they work given the contract being either owner or annuitant driven and the possible adverse payout problems if not structured correctly.
- General knowledge of all brokerage products, specifically life insurance, mutual funds, UITs, ETFs, and the managed funds program.
Education & Experience
- Bachelors degree in Finance or related field or equivalent work experience required.
- 3+ years of technical experience.
Licenses & Credentials
- Series 7, 63 and Resident State Insurance License (Life & Health)
Systems & Technology
- Proficient in Microsoft Excel, Word, PowerPoint, Outlook
About Stifel
Established in 1890, Stifel is one of the nation's leading full-service wealth management and investment banking firms. Stifel serves clients from more than 400 offices across the United States and ranks as the nation's seventh largest full-service investment firm in terms of number of financial advisors. We are also a leading provider of investment banking services to the middle market, a top-ten municipal bond underwriter, and home to one of the industry's largest research franchises. In addition our Stifel Bank subsidiary provides a comprehensive range of banking services.
At Stifel we offer an entrepreneurial environment, comprehensive benefits package to include health, dental and vision care, 401k, wellness initiatives, life insurance, and paid time off.
The health and safety of our employees and candidates is very important to us. We continue to monitor the current public health situation and have adjusted our hiring procedures to include virtual recruiting tools that allow us to continue meeting new candidates.
Stifel is an Equal Opportunity Employer.