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Compliance Director, PIMS

Company: Prudential Annuities Distributors (PAD)
Location: Newark
Posted on: April 8, 2021

Job Description:

Prudential Investment Management Services LLC ("PIMS") is seeking an experienced team member to serve as Compliance Director, reporting to PIMS' Chief Compliance Officer. PIMS is an SEC-registered broker-dealer and FINRA member firm, within Prudential Financial, Inc. PIMS serves as underwriter, wholesaler, placement agent, and retailer of investment products manufactured and sold by multiple Prudential businesses, including those of PGIM (Prudential's global investment management business), Prudential Retirement and Group Insurance. PIMS operates primarily as a distributor of mutual funds, ETFs, group variable products, commercial paper, private funds, and certain Retirement products through financial firm intermediaries, institutional and retail investors.The Director will support the PIMS CCO and team to transform and evolve the existing compliance program to broaden and bolster its strategic focus across the PIMS-related businesses, centralize oversight and governance of compliance risk for PIMS across the Prudential enterprise through the development of efficient, consistent and effective infrastructure.-- Infrastructure includes but is not limited to development of culture, awareness, policies, WSPs, training, monitoring and testing, reporting and metrics, maintenance of books and records and documentation.The role involves supporting strategic initiatives of certain businesses as well as the larger corporate compliance mandates. An important part of the role will be to develop and enhance the compliance program's effectiveness in accordance with regulatory expectations and evolving best practices including establishing PIMS compliance culture and awareness across the enterprise.--The Director will be expected to provide timely, accurate guidance to the businesses on broker-dealer compliance matters, including guidance on solicitation and sales of products in scope for PIMS, training of registered representatives on broker-dealer and PIMS matters, developing and conducting risk-based testing, provide on-going sales practice support and have the experience to lead and manage regulatory inquiries and exams.The Director is also expected to be a key leader for other members of the PIMS compliance teams including those who approve PIMS communications as well as to help develop shared processes for the review of U.S. domestic and international marketing materials. This role includes working directly with the CCO with the management of the overall PIMS Compliance team. Additional focus will be to support and partner with sales and product management leadership teams around sales practices to provide proactive regulatory guidance on initiatives, product development and launches etc. Key Responsibilities:

  • Support the broker-dealer CCO and team to design and implement an effective compliance program for PIMS to prevent, detect and mitigate violations of all applicable law, regulation, and Prudential policies
  • Quickly learn and understand complex business model and products
  • Develop, implement and maintain policies, procedures, reporting, forensic testing and monitoring program, tracking and applying regulatory priorities, as well as industry best practices to broker-dealer activities (non-cash compensation, marketing review, sales practices, conflicts of interest)
  • Develop effective processes to gather, analyze and identify issues within the multiple businesses that utilize the broker-dealer including results from internal and/or external examinations
  • Develop infrastructure to manage and facilitate efficient regulatory examinations and inquiries and assist to prepare responses to such requests
  • Integrate industry benchmarking and best practices through ongoing research, education and industry affiliations and contacts
  • Assist to develop a shared process with PGIM's international compliance teams for the review of mutual fund and UCITS marketing materials
  • Develop and deliver on-demand automated training to broker-dealer associated persons on key policies and rules;
  • Ability to collaborate effectively but also work independently to meet expectations and represent the department
  • Provide timely, quality work product and meet manager standards and deadlines; assist in managing the department's deliverablesPosition Qualifications:
    • Minimum of 8-10 years of legal and/or compliance or related experience, primarily broker-dealer related
    • Thorough knowledge of the broker-dealer business from a risk, product, corporate governance, regulatory, marketplace, compliance, and administrative perspective; understand and navigate in a complex and global environment
    • Demonstrated understanding of the regulatory framework for the marketing and distribution of registered funds and other products (3c7, separate accounts, collective funds)
      • Strong knowledge and understanding of FINRA and SEC rules and regulations, and other state and federal securities laws and rules applicable to broker-dealer operations and insurance and state regulations as many PIMS RRs are registered with states to conduct insurance business (VA, VLI products)--
      • Marketing and communication review experience required (mutual funds, ETFs, non registered products, CITs, UCITs, private funds and separate accounts a plus)
      • Familiarity with ETF regulation and ETF compliance programs and non-registered funds (3c7s), a plus
      • Strong understanding of digital financial services channels, including mobile and online technologies their features functionality and ability to quickly identify regulatory considerations and provide proactive timely solutions
      • Significant experience with initiating, developing, implementing and maintaining written policies and written supervisory procedures, testing and risk assessment programs
      • Proven communication skills (verbal, written, interpersonal) ability to interact and collaborate effectively with all levels of management and provide timely, clear and complete communications
      • Ability to interpret rules, analyze complex issues and risks, and explain in a cogent manner to business professionals into succinct and easily understood concepts; think critically and strategically while being able to perform tactical tasks
      • Solutions-oriented approach to effectively evaluate issues, make sound decisions using good judgement, detail oriented and strong analytical skills;
      • Meet deadlines while effectively balancing competing priorities without follow up from manager
      • Relationship management and experience with direct leadership of teams
      • Creative and strategic approach to problem solving and change management
      • A self-starter with a creative and strategic risk-based approach to problem solving and the ability to confront conflict and difficult issues in a professional, assertive and proactive manner; challenge status quo
      • Ability to effectively prioritize and multi-task while maintaining flexibility in a fast-paced changing environment
      • Openness to new ideas and seeks opportunities to learn
        • Professional skepticism in assessing appropriateness, objectivity and independence
        • Establish yourself as a credible voice at the table
        • Leads organizational transformation in areas of effectiveness and improvement
        • Ability to think beyond a problem on its face
        • Comfortable with ambiguity and has the dexterity to adjust as needed
        • Seeks to understand customer's needs and challenges
        • Collaborates in a fully inclusive and open manner
        • Bachelor's degree required; advanced degrees preferred
        • Series 7 and 24 required.- Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom. Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services. We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand. Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.-- The Prudential Insurance Company of America, Newark, NJ and its affiliates. Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential. PEOPLE WITH DISABILITIES:
          If you need an accommodation to complete the application process, which may include an assessment, please call (800) 433-8960, prompt 4 or email accommodation.h&w@prudential.com. Please note that the above number and email are solely for individuals with disabilities requesting an accommodation. If you are experiencing a technical issue with your application or an assessment, please email careers@prudential.com to request assistance. We are a company of smart, ambitious professionals working together across a multitude of disciplines. Together, we are building a better financial future for our customers and our communities around the globe.

Keywords: Prudential Annuities Distributors (PAD), Newark , Compliance Director, PIMS, Executive , Newark, New Jersey

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