Job Role Description

Insurance > Associate Broker

Salary National Average

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56380.0000 67130.0000 85980.0000

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Candidate Supply: 16,933 Job Openings: 2,318

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Short Description:

An Associate Broker is responsible for assisting clients in managing their investments and financial portfolios. They work under the supervision of a senior broker, conducting market research, analyzing financial data, and providing investment recommendations to clients. Associate Brokers also assist in executing trades, maintaining client records, and staying informed about market trends and regulatory changes. Strong analytical skills, attention to detail, and effective communication are essential for success in this role, as Associate Brokers play a crucial role in helping clients achieve their financial goals while adhering to industry regulations.

Duties / Responsibilities:

  • Correspond with customers and confer with coworkers to answer inquiries, discuss market fluctuations, or resolve account problems.
  • Record and document security transactions, such as purchases, sales, conversions, redemptions, and payments, using computers, accounting ledgers, or certificate records.
  • Schedule and coordinate transfer and delivery of security certificates between companies, departments, and customers.
  • Prepare forms, such as receipts, withdrawal orders, transmittal papers, or transfer confirmations, based on transaction requests from stockholders.
  • File, type, or operate standard office machines.
  • Monitor daily stock prices and compute fluctuations to determine the need for additional collateral to secure loans.
  • Compute total holdings, dividends, interest, transfer taxes, brokerage fees, or commissions and allocate appropriate payments to customers.
  • Prepare reports summarizing daily transactions and earnings for individual customer accounts.
  • Verify ownership, transaction information, and dividend distribution instructions to ensure compliance with governmental regulations using stock records and reports.

Skills / Requirements / Qualifications

  • Customer and Personal Service: Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • Clerical: Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
  • Economics and Accounting: Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
  • Mathematics: Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • English Language: Knowledge of the structure and content of the English language, including the meaning and spelling of words, rules of composition, and grammar.

Job Zones

  • Title: Job Zone Three: Medium Preparation Needed.
  • Education: Most occupations in this zone require vocational school training, on-the-job experience, or an associate's degree.
  • Related Experience: Previous work-related skill, knowledge, or experience is required for these occupations. 
  • Job Training: Employees in these occupations usually need one or two years of on-the-job experience and informal training with experienced workers. A recognized apprenticeship program may be associated with these occupations.
  • Job Zone Examples: These occupations usually involve communication and organizational skills to coordinate, supervise, manage, or train others to accomplish goals. 
  • Specific Vocational Preparation in years: 1-2 years preparation (6.0 to < 7.0)

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