9 days old

Director Compliance - PIMS - PIM000C8

Newark, NJ
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Primary Location United States-New Jersey-Newark (NJ)


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 (Prudentials 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 the business as well as the larger corporate compliance mandates.   An important part of the role will be to develop and enhance the compliance programs effectiveness in accordance with regulatory expectations and evolving best practices including establishing PIMS compliance culture and awareness across the enterprise.  The Director will work directly with both the PIMS CCO and other members of the Compliance teams and business professionals within Prudential who help support the PIMS Compliance Program. 

The Director will be expected to provide guidance to the businesses on broker-dealer compliance matters, including guidance on solicitation and sales of products in scope for PIMS. 

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.

The position will be in Newark, New Jersey.    

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, OBAs, licensing, conflicts of interest etc.)

  • 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;

  • Assist in the marketing review team area as necessary with review, development of standards and training of business on applicable regulations;

  • Assist to develop a shared process with PGIMs international compliance teams for the review of mutual fund and UCITS marketing materials

  • Monitor the effectiveness of established compliance processes and controls; recommending and implementing enhancements;

  • Integrate industry benchmarking and best practices through ongoing research, education and industry affiliations


Position Qualifications:

  • Minimum of 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, compliance, and administrative perspective; 

  • 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 (including advertising rules), 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 and separate accounts a plus);

  • Familiarity with ETF regulation and ETF compliance programs and non-registered funds (3c7s), a plus.

  • 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;

  • Ability to interpret rules, analyze complex issues and risks, and explain in a cogent manner to business professionals; think critically and strategically while being able to perform tactical tasks;

  • Solutions-oriented approach to effectively evaluate issues, make sound decisions using good judgement, meet deadlines while balancing competing priorities;

  • 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;

  • Ability to effectively prioritize and multi-task while maintaining flexibility in a fast-paced changing environment;

  • Proven analytical and project management skills.

  • Bachelor's degree required, Juris Doctor Preferred.

  • Series 7 and 24 required.

@!*!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 companys 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. For more information please visit www.prudential.com.

Prudential is not accepting unsolicited resumes from search firms for this open position unless contracted with Staffing. Agencies must work with Staffing as the primary point of contact and follow the Prudential application process to be considered for business. All resumes submitted by search firms to any employee at Prudential via-email Internet or directly to hiring managers in any form without a valid written search agreement in place for that position will be deemed the sole property of Prudential and no fee will be paid in the event the candidate is hired by Prudential.
Note: Any search agreement entered into with Prudential before January 2004 is null and void. Search firms are essential to the recruitment and staffing efforts at Prudential and we value the partnerships we have built with our preferred vendors. Prudential has established and regularly maintains a preferred vendor list and even preferred vendors need to have a written search agreement signed by the Director Recruiting Programs Staffing at Prudential in place for the specific position in order for a fee to be paid for any candidate referrals.
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Posted: 2020-03-19 Expires: 2020-04-18

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Director Compliance - PIMS - PIM000C8

Newark, NJ

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