Prudential's Retirement business is seeking an experienced financial services leader to fill a Director, Compliance Officer (CO) role to support the managed advice strategy. The position will involve: consultative discussions with business partners utilizing expertise in Investment Advisers Act compliance and engagement with multiple Third Party RIAs used by the business. The Compliance Officer will also assist the business in development and implementation of the longer-term strategy involving more investment advisory functions moving to a Prudential RIA. The Compliance Officer position requires experience with regulatory change management, and will regularly involve strategic and tactical check-ins with the Chief Compliance Officer (CCO) for the Retirement business, among other compliance responsibilities.
This role requires a cross-functional customer centric view into Prudential's business units. The ideal candidate will have broad knowledge in Investment Adviser, Broker-Dealer and ERISA regulatory frameworks, the most important being Investment Advisory. Particular knowledge and experience with Rule 206(4)-7 testing will be a big plus for a candidate. An understanding of associated business operations, and ways to leverage technology to optimize compliance related controls and activities will be needed as well. An important part of the role will be to continually evaluate and 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 role reports directly to the CCO of Retail Investment Adviser Compliance and will work closely with front-line management in the Retirement business, other Compliance areas including Broker-Dealer Compliance, and also support the Compliance Risk Management Program. The CO role will also be expected to interact regularly with operations, product development, and technology staff members. An ability to communicate with all partner groups will be a key aspect of success in this role and interactions with, and status reports/update meetings with the CCO-Retail RIA Compliance will also be required on a regular basis.
You will get to work in an exciting, engaging and agile startup environment where you will be encouraged to expand your skills, test your creative boundaries, share new ideas, and, most importantly, have fun.
- The role will develop and maintain the compliance program to support the Managed Advice strategy that is effective in preventing, detecting and mitigating violations of applicable law or Prudential policies.
- The person must also develop line of sight into key vendor processes and enhance vendor relationships.
- Responsible for implementing and maintaining compliance monitoring, updating policies & procedures, reporting, testing, and applying regulatory guidance as well as industry best practices.
- Responsible for providing ongoing compliance support and advice for the day to day activities of the RIA as well as designing and implementing new strategies and initiatives. When necessary, the Compliance Officer will be required to represent the CCO on matters relating to the compliance program.
- 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 enhancements
- Assist the CCO in dealing with regulators, auditors and business unit management regarding regulatory exams and inquiries.
- Provide compliance support for new product initiatives, at the direction of the CCO.
- Integrate industry benchmarking and best practices through ongoing research, education and industry affiliations
- Coordinate with other Compliance teams, Corporate Compliance, and other divisions as necessary
- Expertise and extensive knowledge of RIA regulations and operations
- Well versed in investment process, broker-dealer operations , and Turnkey Asset Management Program (TAMP) management
- Knowledge of the Investment Advisers Act of 1940 and familiarity with the Investment Company Act of 1940, specifically Rule 3a-4 compliance,
- Five plus years of compliance and/or RIA operations experience, or related experience.
- Experience with developing, implementing and maintaining written policies and procedures governing RIA compliance activities
- Understanding of customer transactions and communication, operational work flows, internet technologies, as well as development methodology for a complex multi-business environment
- Ability to work and react quickly in a fast-paced, agile environment
- Proven communication skills (verbal, written, interpersonal) sufficient to interact with all levels of management
- Relationship management and experience with direct leadership of teams
- 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 strongly preferred.