Compliance Analyst - Adviser Due Diligence
Job Code: 398818
Job Location: New Jersey-Newark
Description: Prudential Investments (“PI”) Compliance is seeking a compliance professional to join our regulatory due diligence group. Prudential Investments is an SEC registered investment adviser and serves as the investment manager or co-manager to the Prudential Mutual Fund Complex, which has approximately $257 billion in regulatory AUM as of December 31, 2015.
The due diligence team provides compliance oversight of investment advisers and sub-advisers (collectively “advisers”) to products within Prudential's domestic businesses. To facilitate this, the due diligence team performs on-site and telephonic adviser regulatory due diligence reviews and evaluates the effectiveness of each adviser's compliance program. Travel is required in this position. Key responsibilities include:
1. Assisting and/or performing regulatory due diligence reviews of advisers on Prudential’s domestic business platforms. Reviews are designed to ascertain that advisers adhere to applicable regulatory requirements and industry best practices. The compliance analyst will assist or perform the following components of the due diligence review:
· Review policies and procedures, third party generated evaluations, RFPs, answers to compliance questionnaires, and relevant regulatory findings prior to an on-site visit or telephonic review;
· Conduct on-site and telephonic examinations of the compliance programs of advisers, focusing on key compliance and regulatory requirements as well as regulatory developments and industry trends;
· Conduct discussions, during on-site visits or teleconferences, with key representatives from compliance, legal, portfolio management, trading, operations, and systems;
· Document findings and observations;
· Prepare and/or update adviser due diligence documentation;
· Report findings and observations to senior Compliance management via compliance snapshots and direct conversations;
· Prepare first drafts of Investment Committee Summaries and Board Memos;
· Update Compliance Watch List and Notable List on a quarterly basis;
· Resolve outstanding issues and concerns;
· Identify changes to regulation and industry best practices and incorporate into the due diligence program.
· Coordinate with internal business partners (Strategic Investment Research Group, Prudential business committees, Law, Fund Admin/Fund Accounting) as necessary;
· Summarize periodic amendments to sub-advisers’ codes of ethics and compliance policies and procedures for inclusion in mutual fund board material.
2. Participate in forensic testing initiatives;
3. Perform special projects and other ad-hoc requests; and
4. Perform other compliance functions on an “as needed” basis for PI Compliance.
· Strong background in the investment management industry.
· Technical knowledge of the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Securities Act of 1933, and the Securities Exchange Act of 1934.
· Knowledge of cyber security regulatory guidance applicable to investment advisers.
· A bachelor's degree is preferred.
· Regulatory background in compliance, legal, audit, or risk management.
· Ability to exercise sound judgment and discretion in identifying and resolving issues.
· Ability to partner with other business unit personnel at various levels within the organization.
· Motivated self-starter who requires minimal supervision in daily activities and broad compliance initiatives.
· Excellent verbal, written and interpersonal communication skills.
· Experience in the area of data analytics is helpful.
· Strong organizational skills, having the ability to maintain orderly documentation and track issues/recommendations.
· Team Player.
· Willingness to travel, sometimes on short notice.
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, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at firstname.lastname@example.org for more information about doing business with Prudential.
Job Function: Compliance