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Principal Review Specialist, Officer - UnionBanc Investment Services

Company: MUFG Union Bank
Location: Glendale
Posted on: February 25, 2021

Job Description:

MUFG is committed to the safety and well-being of our colleagues, clients, candidates, and the community as we manage the current COVID-19 pandemic. During this time, as we continue to recruit and hire exceptional talent to join our team, we are taking the necessary precautions to limit in-person contact, aligned with Federal, State, and local health recommendations and requirements. All interviews are being conducted remotely via Skype, FaceTime, or phone. Additionally, we have implemented remote on-boarding for new colleagues, as appropriate. Thank you for your interest in exploring career opportunities with MUFG. Principal Review Specialist, Officer - UnionBanc Investment Services UnionBanc Investment Services, a wholly owned subsidiary of Union Bank, is a trusted and highly respected broker-dealer and investment advisor that has helped clients reach their investment goals for more than three decades. We offer a comprehensive selection of competitive investment services and products to assist our clients with their financial goals. Our team of talented professionals embodies the ingenuity, exceptional attitude, and passion for exemplary client service that drives our success. We respect diverse backgrounds, talents, and skills and place an emphasis on the value each individual brings to the equation. A consistent business philosophy, a well-defined and actionable strategic plan, and an inspired vision for the future are what make us unique. Be part of an environment where you can do what you love, excel at what you do, realize the rewards, and take pride in your achievements. Job Summary: Reporting to Principal Review Manager, the Principal Review Specialist is responsible for the observance of fair and reasonable sales practices and adherence to policy for UnionBanc Investment Services, LLC. This is done by the effective securities principal review and approvals of new accounts applications along with any associated documents and trade tickets to ensure that transactions adhere to compliance and regulatory requirements. The Principal Review Specialist also approves much of the paperwork, such as exception reports and trade blotters, which are produced by the functions of a broker-dealer firm. The job also entails the processing of trade corrections and the backend reconciliation of the discrepancy for submission to our accounting department. Corrections need to be consistent with regulatory principals and be well documented. Major Responsibilities:

  • 50% - Responsible for principal approvals of such day to day broker dealer activities including, but not limited to, new account and trading documentation for brokerage accounts, brokered CD accounts, Institutional Safekeeping accounts, Fund Direct trades/account, 529 College Savings Plan accounts (Series 53 only), investment advisory accounts, annuities & life insurance (CA Life Agent Licensed PRSs only), Margin Applications, Options Applications (Series 4 only), and other products/accounts requiring a securities principal approval for the firm. Must ensure that various tasks assigned to the Office of Principal Review are conducted according to UBIS policies and procedures. Must ensure that approvals comply with regulatory issues such as the Customer Identification Program, Anti Money Laundering Program, Enhanced Due Diligence, U.S. Patriot Act, Bank Secrecy Act, Suitability and Sales practices, SEC Best Interest regulatory compliance, Mutual Fund Breakpoint policies and procedures, Books and Records Requirements, Correction Approval Issues as well as the myriad of other regulatory issues. Must consider Supervisory Guidelines of UBIS for principal approvals of transactions and accounts. Should be familiar with all facets of policy & procedures and consult with the firms Compliance department on any issue they need further guidance on as appropriate and necessary to fulfill their functions as one of the firm's principals. Responsible for the assignment of and clearance of document discrepancies to ensure that paperwork adheres to UBIS policies and regulatory requirements while watching for red flag issues that could point to other problems with any given transaction or action of a UBIS Registered Representative or their customers.
  • 50% - Review transactions requiring Regional Sales Manager approvals and consult with UBIS Compliance department on any issues that appear to warrant further review. Review and principally approve all trade reports for suitability and applicable Best Interest standards of solicited trades. Review and perform principal approval of various trading reports such as 119A (On-line Trading Report), #210A (Mutual Fund Breakpoint Variance Report), Report #003 (Commission Variance Report) and others as assigned by the Office of Principal Review Manager. Review and confirm daily FINRA CAT reports and report any errors found. Perform trade corrections as warranted and appropriate. Will verify completion of corrections and finalize any loss/profit amounts necessary for our accounting department by utilizing and completing Trade Discrepancy Reports. They are also responsible for notifying the Regional Sales Managers of any corrections affecting a registered rep under their supervision when losses occur. Additional Information:
    • Requires exceptionally strong organizational, communication and time management skills.
    • Must be able to multi-task in a fast-paced environment with time-sensitive responsibilities.
    • Must be willing to interact with clients, registered representative, and coworkers accordingly to effectively manage and maintain compliance and regulatory standards.
    • Requires working knowledge of Microsoft Word and Excel, or previous experience with similar software packages.
    • Familiarity with National Financial back office systems such as FBSI & Streetscape a plus.
    • Prefer 1 to 4 years of experience as a General Securities Principal within the brokerage industry.
    • Should have 5 years minimum experience in a broker/dealer organization.
    • Requires FINRA Series 7 license, Series 63 & 65 (or 66) licenses and Series 24 license, or FINRA Series 9 and 10.
    • California Life Agent, FINRA Series 53, Series 4, licenses are required or will need to be acquired within 360 days of start date. The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category. A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it's the bank's policy to only inquire into a candidate's criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses. We are committed to ensuring that our online application process provides an equal employment opportunity to all applicants, including individuals with disabilities. If you are an applicant with a disability, or are assisting an applicant with a disability, and require accessibility assistance or an accommodation to apply for one of our jobs, please submit a request by telephone at 1-866-275-4717 or email us at AskHR@us.mufg.jp . Include your contact information and specific details about your requested accommodation. We are proud to be an Equal Opportunity/Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.

Keywords: MUFG Union Bank, Glendale , Principal Review Specialist, Officer - UnionBanc Investment Services, Education / Teaching , Glendale, Arizona

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