Reference Code: 12041817
Location: Guaynabo, PR, US
Education Level: Bachelor's Degree
Objective: The incumbent will be responsible for the day-to-day sales activities performed by Registered Representatives and Foreign Associates to ensure compliance with Citigroup policies and procedures and regulatory requirements; develop, implement and modify, as needed, sales practice programs for the broker dealer; communicate important compliance, sales practices and legal issues to senior management; provide assistance to regulatory agencies and the internal audit department during audits; facilitate the execution of transactions that require Compliance and/or Legal intervention; assist Compliance, as needed, with the investigation and resolution of customer complaints involving sales practices, and operational and administrative issues; advise the sales force, senior management, operational and support staff of changes related to the industry's rules and regulations. Responsibilities: Daily Trade Activity Review:
CIFS Administrative Principals review all prior day trading activity using the Actimize Electronic Trade Blotter and document their review by "signing off" the trade blotter. Issues found and actions taken are documented within Actimize.
The Administrative Principal analyzes solicited transactions to make sure that they are consistent with the Suitability Guidelines, that they can be recommended under the CIFS Solicitation Policy and that they do not carry sales practices issues. Also, Administrative Principals review unsolicited transactions in their Daily Trade Blotter to determine if any relevant sales practices issues occurred. Surveillance Reports Review: The Administrative Principal review the monthly Surveillance Reports that capture all transactions, regardless if they are solicited or unsolicited, and are intended to identify potential inadequate transactions. This review is performed on a monthly basis. Sales Administration:
Supervise and monitor the individual and group sales practices of Registered Representatives and Foreign Associates to ensure optimum service to our customers.
Assist the Regional Sales Principals as needed. Management and Compliance:
As the Administrative Sales Principal monitor the sales effort to ensure compliance with applicable regulatory rules, in particular the NASD Rules of Fair Practice.
Provide assistance to senior management during the periodic local and Federal Audits and Investigations of the CFSC Retail operations.
Provide assistance to the Compliance Department with respect to verbal or written client complaints that may arise in the normal course of business. Personnel:
Assist in the recruiting, screening, and hiring of Administrative Sales Principals.
Develop and administer training programs to ensure professional development at the Administrative Principal Unit.
Provide the necessary motivation to ensure the Sales force operates in a productive work environment with balance and good sales practice. Risk Management:
Evaluate and assist whenever possible to and recommend business and alert on risk decisions while weighing the impact of internal policies and regulatory requirements.
Effectively manage the Firm's goal to generate revenues while balancing the department's obligation of adhering to internal and external rules and regulations.
Understand the array of products sold in order to assess and manage risk. Operational Support:
The Designated Administrative Principal must review the ACAT reports prepared by Operations Department for any potential AML activity and compare the accounts on the incoming ACAT list that falls under their scope with the countries currently assigned to him/her.
The Administrative Principal will participate in the process of opening accounts to ensure compliance with corporate and NASD requirements and will only approve accounts that meet said requirements.
The Administrative Principal must approve maintenance or updates on customer accounts prior to execution. These may include updates to financial information or customer profiles amongst others.
The Administrative Principal must approve incoming and outgoing transfers.
The Administrative Principal must approve incoming and outgoing correspondence. Qualifications
Bachelor's Degree required.
5 to 7 years in sales and investment experience and or exposed to supervisory or compliance responsibilities preferred.
FINRA Series 7 required.
FINRA Series 24 and/or Series 9/10 required.
Excellent communication skills, written and verbal.
Must be able to perform under pressure and multi task.
Fluent in English and Spanish (oral and writing)
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