| WHO IS TIAA-CREF? Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF) is a leading provider of retirement planning for people in the academic, research, medical and cultural fields. Our mission is to serve those who dedicate themselves to the benefit and enlightenment of others, by helping to plan the financial future of those who advance the greater good. Dir, Client Services Supervisory Oversight-1686310 Description
Who is TIAA-CREF?
With more than $402 billion in combined assets under management as of 9/30/09, Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF) is a leading provider of retirement plans to those in the academic, research, medical and cultural fields.
It is our mission to serve individuals who dedicate themselves to the benefit and enlightenment of others - those who serve the greater good.
Serving Those Who Serve the Greater Good.
For more than 90 years, our focus has been to support nonprofit organizations as they help their employees achieve a successful financial future.
Today, TIAA-CREF provides an extensive range of investment and insurance products and services including annuities, mutual funds, IRA and Keogh plans; personal and institutional trust services; life insurance; advisor services; and 529 college savings plans.
Director, Client Services Supervisory Oversight
Manage the Supervisory Oversight Group in the Shared Resource Group (SRG). Manage Centralized Principal Review Group, Regional Operations & Regulatory Managers, the Supervisory Review unit and other Client Services regulatory oversight functions. Leads the compliance related operational and transactional initiatives for Institutional & Individual Client Services (IICS). Responsible for developing, distributing, and maintaining compliance communications across IICS. Serves as the business line resource on all compliance support and branch supervisory matters.
Requires relevant regulatory and/or compliance experience and solid career progression in financial services, mutual fund or securities industry. Working knowledge of insurance/annuities, investment company and pension regulatory requirements and the risks and controls. Relevant branch supervisory, RIA and securities experience desirable.
- Manage the Supervisory Oversight Group, including the Centralized Principal Review Team, Regional Operations & Regulatory Managers and Supervisory Review Team
- Review the suitability of all registered representative recommendations (regardless of whether or not that activity results in a transaction). Determine if replacement forms were provided to clients when a product recommendation was made.
- Provide various levels of supervisory guidance, e-mail review and training in the branches.
- Develop and implement supervisory controls within IICS
- Ensures all operations and activities meet regulatory requirements/guidelines.
- Identify and address compliance risks, conflicts of interests, processing and activity deficiencies.
- Identifies potential regulatory exposures and makes recommendations for corrective actions, as well as provides project support in the form of compliance and operational efficiency recommendations.
- Conducts periodic reviews of current supervisory processes and report results to senior management, including assurance of proper remediation.
- Support business line managers preventing regulatory issues, providing supervisory oversight and responding to regulatory matters. This includes:
o Regulatory Exam Support (FINRA, State Insurance, SEC, etc) - Document productions and representing CS on interviews, response to questions, process guidance, etc.
o U4/U5 - disclosure reviews
o CS Infractions tracking
o Compliance and Supervisory Training (team meetings, monthly agendas, communications)
o Registration and Licensing Matrix (maintenance and oversight)
o RIA Client Interaction Reviews (Suitability, RR documentation, RR notes, AR documentation, etc) - WMA, Director and Regional trend analysis, remediation and infraction reporting
o BD/Insurance Interactions (NCC, WMCC, AIS, FCG),
o Replacements
o Agent Sales (end to end)
o Change of address
o Beneficiary
o 2821 Attestations
o Reporting/Trend Analysis to Directors
o NIGO
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Collaborates with Law/Compliance to determine the impact and potential risk of new rules, laws, and regulations. Communicates the impact on the business of all new regulatory, legal and governing body rulings, regulations and laws that will directly affect the area.
- Delivers updates to key compliance and supervisory initiatives with management team.
- Work within IICS and the branch system to insure adherence to policies and procedures and to evaluate current controls and recommend changes when appropriate.
- Monitor problems or challenges associated with the supervisory activities review program, help devise and facilitate solutions, and revise plans as needed.
- Perform any other related duties incidental to the work described herein.
Qualifications
- At least ten (10) years senior level compliance, auditing or operations control experience in financial services.
- MBA preferred.
- FINRA Licenses required: Series 7, Series 63 & Series 24.
- Proven business and project management experience. Must be able to effectively manage an audit & review group and adhere to the plans and deadlines.
- Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
- Excellent written and oral communication skills to include presentation capabilities necessary for interaction with different levels of the company. Strong math skills.
- Sound compliance and branch supervisory processes
- Should have basic understanding of accounting, compliance and contact management systems. Requires skilled use of Microsoft Word, Excel, and PowerPoint.
- Travel, as needed, to provide oversight reviews and management reporting.
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