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How to Become a Broker Relations Representative

Career News February 24, 2014

Do you enjoy talking to people, making deals and helping others to aim higher? This is the job for you! The broker relations representative role is similar to a relations director role. He or she maintains a relationship with brokers and provides commissions to those workers who can make money for the lending institution. It is the job of this representative to ensure payments are made accurately and on a timely basis. With managerial duties comes administrative troubleshooting. It is this professional’s job to deal with all issues raised by brokers as well as their clients.

Responsibilities of Broker Relations Representatives

Responsibilities of this position could include line management for brokers and analysts, and that includes the production of the reviewing process. If you land this position, you will be expected to handle commission sharing agreements, payments, and reconciliation to the company’s accounts. It’s not merely supervising employee payments, but also managing all regulatory responses from clients. Coordinating and implementing new approvals are part of your job, as is coordinating research provider negotiations. The broker review system is under your jurisdiction, as is the responsibility of preparing broker review meetings.

Required Education and Experience

A bachelor’s degree is preferred for this type of job, since it is a step above simple customer service. Most applicants come from a background in finance or customer service or management, and have two to four years of experience in the field. This experience will help you to learn the practices and procedures that make the job easy, and keep the company afloat. Companies depend upon your knowledge of these basics so that you can help accomplish very specific goals. You need a great deal of creativity and latitude to succeed in this career, since you will be sharing your expertise with others. You report to the branch manager with all of your findings.

Depending on what field you choose, you may work with general banking or stock transactions. Much of the job involves overseeing securities that are bought and sold as investments for clients. A thorough knowledge of banking is required for this, and if you get involved with securities and stocks, you will be required to register with FINRA, as well as pass a qualifying examination. This process ensures that you will be officially licensed in your state. FINRA states this information on their website and also provides registration information.

A Sales Task

Working on your sales skills is a smart idea, as brokers (the ones you oversee) work in a sales-oriented position. You are interested in developing their skills, while also concentrating on building your company’s portfolio and developing investment goals that suit clients. Making people feel secure is one of the more important issues on the job. If this career appeals to you and you desire more to do and more responsibility, now is the time to reach out. You can accomplish great things if only you chart a course and take decisive steps towards reaching each succeeding step. A college education at any of the schools listed below will help build a stronger resume.

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  • Founded in 1890, it has a campus in Waterbury, CT and offers online degree program in eight-week modules, six times a year.
  • About 800 students are enrolled at the main campus, and about half of them commute.
  • Online courses make it possible for students to earn a bachelor’s degree in as little as 18 months and a master’s degree in 14-24 months.
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