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Vice President, Compliance (Deputy CCO)

Prudential


Location:
Newark, NJ
Date:
03/24/2017
Job Code:
363459
Prudential
Apply on the Company Site
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Job Details

Position Title: Vice President, Compliance (Deputy CCO)
Job Code: 363459
Job Location: New Jersey-Newark
Description:

Prudential Investments, LLC (“PI”), is seeking an experienced leader to serve as Deputy Chief Compliance Officer.  PI is an investment manager to the Prudential Mutual Fund Complex within Prudential Financial, Inc. with approximately $257 billion in regulatory AUM as of December 31, 2015.  The Deputy CCO will assist the mutual fund and adviser CCO with overseeing compliance for the adviser, mutual funds, transfer agent, and principal underwriter.  The Deputy is expected to be a key leader for the thirty-plus compliance professionals in the CCO’s organization. 

 

PI serves as the manager and/or co-manager for two mutual fund complexes: the Prudential Retail Funds and the Prudential Insurance Funds (collectively “Prudential Funds” or “Funds”). The Prudential Retail Funds include several open end funds and two closed end funds.  The Prudential Insurance Funds consist of open end funds that serve as underlying investment options for Prudential’s variable annuities business, group insurance business, individual life insurance business, and retirement business.  The Prudential Retail Funds and Prudential Insurance Funds are overseen by separate boards of directors/trustees (“Boards”).

 

As part of its business, PI oversees a large number of affiliated and unaffiliated sub-advisers.  The PI compliance department is responsible for assessing these sub-advisers’ compliance programs.  PI compliance also monitors and reports to the mutual fund Boards on the sub-advisers ongoing compliance with fund policies and procedures.  PI Compliance also serves a center of excellence for third-party adviser due diligence throughout the Prudential organization.

 

This role supports the CCO in all aspects of compliance strategic initiatives and all compliance matters to ensure that the firm is in compliance with all laws and regulations.   An important part of the role will be to generate ideas to enhance the compliance program, eliminate duplications and inefficiencies and increase the effectiveness of the program to ensure that the highest risks are properly identified and mitigated.  This position will be located in Newark, NJ. 

 

Key Responsibilities:

  • The person will support the CCO in designing and implementing a compliance program for registered investment advisers and registered investment companies that is effective in preventing, detecting and mitigating violations of applicable law or Prudential policies.  The person will also support the CCO with the transfer agent’s compliance program. 
  • Responsibility for directing, developing, implementing and maintaining compliance monitoring, new policies, procedures, reporting, forensic testing, tracking and applying regulatory priorities as well as industry best practices.
  • He/she will be responsible for providing ongoing compliance support and advice for the day to day activities of PI as well as designing and implementing new strategies and initiatives.
  • Administer compliance policies and procedures for the PI, the mutual funds, and the transfer agent, including oversight of portfolio compliance for the Funds, compliance testing for various Fund and Adviser activities, administration of the Funds' and Adviser's Code of Ethics, and monitoring of quarterly compliance reporting by the Funds' service providers.
  • Monitors, reviews and comments on the preparation and review of fund and adviser regulatory filings.
  • Assist in the fair valuation process
  • Promote, protect and set the tone to reflect the Company’s reputation for ethics, integrity and honesty in all dealings
  • Monitor the effectiveness of established compliance processes and controls; recommend and implement enhancement
  • Identify issues both within the business unit and across multiple business units resulting from internal and/or external examinations; makes recommendations for appropriate actions, follow-up of agreed-upon resolutions of findings while providing creative and innovative analysis and best practice solutions
  • Assist regulators, auditors and business unit management with regulatory exams and inquiries
  • Provide compliance support for new product initiatives
  • Integrate industry benchmarking and best practices through ongoing research, education and industry affiliations.
  • Coordinate with other Asset Management Compliance teams, Corporate Compliance, and other divisions as necessary

 

 

 


  • Strong competence and extensive knowledge of the mutual fund business and operations.
  • Well versed in mutual fund administration, investment process, transfer agent operations, and mutual fund governance. 
  • Strong understanding of the Investment Company Act of 1940, the Investment Advisers Act of 1940, CFTC/NFA regulation, and other federal securities/commodities laws and applicable rules.
  • Twelve plus years of legal and/ or compliance or related experience, primarily in investment management
  • Significant experience with initiating, directing, developing, implementing and maintaining written policies and procedures governing compliance activities
  • Prior experience working at a regulator (SEC, FINRA) is preferred
  • Proven communication skills (verbal, written, interpersonal) sufficient to interact with all levels of management, as well as mutual fund boards
  • Strong relationship management and experience with direct leadership of
  • Ability to interpret rules and analyze complex issues
  • Ability to reach sound judgments and act quickly under tight deadlines while balancing competing priorities
  • Creative and strategic approach to problem solving and change management
  • Proven analytical and project management skills
  • Bachelor's degree required, MBA or Juris Doctor Preferred
  • Familiarity with ETF regulation and ETF compliance programs a plus

 




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 staffingagencies@prudential.com for more information about doing business with Prudential.
Job Function: Compliance
Schedule: Full-time
Apply on the Company Site

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