Prudential

Director Compliance (Virtual/Remote)

3+ months agoNewark, NJ

The Compliance Testing Unit ("CTU") is a centralized unit within the Global Compliance Risk Management function, primarily responsible for regulatory required testing of Prudential's three Broker Dealers, Pruco Securities LLC ("Pruco"), Prudential Investment Management Services, LLC ("PIMS") and Prudential Annuities Distributors, Inc. ("PAD"). Testing activities for the Broker Dealers include FINRA Rule 3110(c) (Office of Supervisory Jurisdiction ("OSJ") and Branch Office Inspections) and 3310 (Anti-Money Laundering Compliance Program), as well as testing for certain registered investment companies and investment advisors related to Separate Accounts in accordance with SEC Rule 38a-1.

The Director, Compliance - Regulatory Testing, position will report to the Vice President of CTU and will be responsible for transforming and evolving the existing broker dealer and 38a-1 testing program, setting the organization's future vision and leading the team day-to-day.

Responsibilities include:
· Design and implement an effective, risk-based broker dealer testing program for Pruco, PIMS and PAD to assist in detecting and preventing violations of, and achieving compliance with, applicable securities laws and regulations, and with appliable FINRA rules; meeting requirements for branch office inspections
· In collaboration with Business Unit Compliance, design and implement an effective, risk-based Separate Accounts SEC 38a-1 testing program
· Drive implementation of automated testing for common scope areas using data analytics and visualization tools
· Through ongoing research and participation in industry trade groups, continuously integrate benchmarking and best practices into the overall testing program and liaise with the company's External Affairs function to advocate for change within the industry, when and where required
· Design and implement a robust governance and oversight process for vendor provided off-shore testing resources, utilized to augment staff and subject matter expertise, to ensure appropriate management of day-to-day activities and overall relationship management
· Develop the annual CTU testing plan, in collaboration with the Pruco, PIMS and PAD Chief Compliance Officers (CCO)
· Lead/oversee and provide strategic leadership for all aspects of the Pruco, PIMS, PAD and Separate Accounts SEC 38a-1 testing, including:
ü Assignment of team members to each inspection/review, including on-shore and off-shore team members, focusing on required skills and growth opportunities for the staff
ü Approving the scope of each review, ensuring they are risk based, incorporate adequate coverage of broker dealer regulations/requirements and include re-performance and outcome/data analytics substantive testing
ü Supervising and supporting the testing team day-to-day, including review and approval of final workpapers/test results to ensure the testing methodology is followed and the inspection/review deadlines are met timely
ü Review all issues raised by the testing team prior to issuance of final reports to ensure they have been appropriately risk rated and management's corrective actions address the root cause of the issue
ü Issue final inspection reports to management
· Improve existing metrics and dashboard reporting to proactively communicate to business management and the CCOs the status of CTU's testing, any identified control gaps, issue trends/themes and areas of increased risk
· People leadership, including developing, coaching and managing a team of Managers and Analysts


Qualifications:
Required background:
The successful candidate will have a minimum of 7-10 years of compliance, risk management and/or audit experience. The successful candidate will bring strategic leadership, technical compliance expertise with superior knowledge, skills and experience in risk management and managing a team of both on-shore and off-shore resources. Additional specific requirements include:
• Bachelor's degree or equivalent experience required, and JD, MBA or advanced degree preferred
• 7 years of compliance, risk management and/or audit experience, primarily broker dealer related
• Series 7, 24 preferred or willing to obtain in 180 days
• Lead organizational transformation in areas of effectiveness and improvement and being solutions-oriented
• Must be highly collaborative, open-minded and able to work with and influence others without having direct authority
• Comfortable in ambiguity, self-directed and an agent and advocate for change
• Strong people leadership/talent management skills to effectively lead and train both on-shore and off-shore resources
• Strong knowledge and understanding of applicable FINRA and SEC requirements and its application to a testing program
• Ability to quickly learn and understand the complex business model, products and applicable regulations
• Strong risk management skills and demonstrated experience with following a defined methodology
• Proven track record of effectively working with data to drive automated testing
• Proven analytical, planning, problem solving, and decision-making skills
• Excellent verbal and written communication, presentation and interpersonal skills to interact and quickly gain credibility and build collaborative working relationships across multiple business units
• Demonstrated ability to develop relationships and collaborate with individuals across businesses and control functions
• Results leadership to create annual testing plan and drive completion of the plan
• Highly organized and strong project management and prioritization skills
• Proficient in MS Office (Outlook/Word/Excel/Access/PowerPoint) and Data Analytic Tools