Head of Business Governance, MassMutual Wealth Management - MassMutual
Boston, MA
About the Job
The Opportunity
The Wealth Management business is a key area of focus for MassMutual and we are growing and expanding capabilities for our Financial Advisor salesforce of ~7,000 advisors. The Head of Business Governance will lead efforts to identify and mitigate risks and take a proactive approach to come up with solutions that manage risk appropriately and are fully compliant while being as advisor-friendly as possible. They will partner with our field risk management unit, compliance and law, as well as supervisory officers at our General Agencies (branch offices), to implement improvements to the way we do business as well as respond proactively to regulatory developments and all manner of risks across Wealth Management.
The Team
As the needs of advisors and clients change and demand more wealth management and planning products and services, MM Wealth Management has greater needs to thoughtfully and effectively engage with our Field partners to promote new and existing capabilities, products and services, and swiftly execute key initiatives that will positively impact advisors and clients resulting in growth. As a member of the Wealth Management senior leadership team, you will join our team of passionate experts across multiple disciplines including Product, Financial Planning, Practice Management, Lending & Banking, Trust, Investments and Operations.
The Impact
This role will be responsible for:
+ Actively managing the health and risk profile of the wealth management business
+ Identifying process, policy and procedure enhancement opportunities across investment advisory programs and platforms offered through our Investment Advisor/Broker-dealer, MMLIS including Wealth Management Services (WMS), our advisory program with $60B+ in separate account, unified managed account, Rep as PM, and model portfolio programs, as well as third party referral programs.
+ Act as main liaison from the Wealth Management organization with law, compliance and Enterprise Risk Management
+ Coordinate with MMFA Field Risk Management to implement process enhancements across the agency system
+ Advising the Head of Wealth Management on training and practice management opportunities to help advisors run effective, efficient, and compliant wealth management practices
+ Evaluate spectrum of risk across wealth management business including regulatory, legal, operational risk, at MassMutual and determine appropriate strategy/ies to prioritize and address them
+ Evaluate controls around advisor sales activities and opportunities to centralize and re-evaluate risk related and supervision activities
+ Evaluate controls around advisor use of complex products
+ Evaluate risk/reward tradeoff of wealth management tools enabled for advisor use and partner with business stakeholders on longer term strategy
+ Identify opportunities to streamline approval processes and governance of sales materials
The Minimum Qualifications
The successful candidate will have 10+ years of experience working in the wealth management business with expertise on risk management and fluency in the investment advisory business and the requirements of both FINRA and SEC
The successful candidate must be able to communicate and partner effectively with financial advisors, General Agents, and home office teammates, and be able to balance multiple priorities across a wide variety of mature as well as early-stage products. Must be eligible to work in the US without sponsorship.
#LI-LS1
Salary Range - $210,000 - $290,000
MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.
If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.
The Wealth Management business is a key area of focus for MassMutual and we are growing and expanding capabilities for our Financial Advisor salesforce of ~7,000 advisors. The Head of Business Governance will lead efforts to identify and mitigate risks and take a proactive approach to come up with solutions that manage risk appropriately and are fully compliant while being as advisor-friendly as possible. They will partner with our field risk management unit, compliance and law, as well as supervisory officers at our General Agencies (branch offices), to implement improvements to the way we do business as well as respond proactively to regulatory developments and all manner of risks across Wealth Management.
The Team
As the needs of advisors and clients change and demand more wealth management and planning products and services, MM Wealth Management has greater needs to thoughtfully and effectively engage with our Field partners to promote new and existing capabilities, products and services, and swiftly execute key initiatives that will positively impact advisors and clients resulting in growth. As a member of the Wealth Management senior leadership team, you will join our team of passionate experts across multiple disciplines including Product, Financial Planning, Practice Management, Lending & Banking, Trust, Investments and Operations.
The Impact
This role will be responsible for:
+ Actively managing the health and risk profile of the wealth management business
+ Identifying process, policy and procedure enhancement opportunities across investment advisory programs and platforms offered through our Investment Advisor/Broker-dealer, MMLIS including Wealth Management Services (WMS), our advisory program with $60B+ in separate account, unified managed account, Rep as PM, and model portfolio programs, as well as third party referral programs.
+ Act as main liaison from the Wealth Management organization with law, compliance and Enterprise Risk Management
+ Coordinate with MMFA Field Risk Management to implement process enhancements across the agency system
+ Advising the Head of Wealth Management on training and practice management opportunities to help advisors run effective, efficient, and compliant wealth management practices
+ Evaluate spectrum of risk across wealth management business including regulatory, legal, operational risk, at MassMutual and determine appropriate strategy/ies to prioritize and address them
+ Evaluate controls around advisor sales activities and opportunities to centralize and re-evaluate risk related and supervision activities
+ Evaluate controls around advisor use of complex products
+ Evaluate risk/reward tradeoff of wealth management tools enabled for advisor use and partner with business stakeholders on longer term strategy
+ Identify opportunities to streamline approval processes and governance of sales materials
The Minimum Qualifications
The successful candidate will have 10+ years of experience working in the wealth management business with expertise on risk management and fluency in the investment advisory business and the requirements of both FINRA and SEC
The successful candidate must be able to communicate and partner effectively with financial advisors, General Agents, and home office teammates, and be able to balance multiple priorities across a wide variety of mature as well as early-stage products. Must be eligible to work in the US without sponsorship.
#LI-LS1
Salary Range - $210,000 - $290,000
MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.
If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.
Source : MassMutual