Corporate - Legal and Compliance
Prudential Global Investment Management ("PGIM”) Compliance currently has a VP level Compliance position available in Newark, New Jersey. Asset management groups include but not limited to: public and private fixed-income, equity, real estate and retail mutual funds. The private fixed-income groups support the institutional investment clients and borrower relationships. There are two primary businesses that conduct private fixed-income activities under the PGIM Private Capital (“PPC”) business unit which include the Alternatives Funds and Institutional Investment Management (“IAM’) units. PPC is a leading provider of private capital to a wide range of public and private companies and manages $100 billion is assets in private fixed-income securities on behalf of its investors.
PPC Compliance is responsible for ensuring that all portfolios managed by the registered investment managers follow applicable regulatory and contractual requirements. In addition, PPC Compliance is responsible for ensuring that the activities of PPC associates are in accordance with Prudential's policies governing such areas of individual conduct as personal securities trading; gifts, travel, and entertainment; insider information; and conflicts of interest. PPC Compliance serves as a general resource for resolving regulatory and interpretive issues relating to the asset management function.
This position reports to the Vice President, Global CCO of PPC. This individual would be responsible for the review, monitoring, testing and oversight of the following: investment advisory and broker/dealer issues, including review and approval of marketing materials and private placement sales and distribution efforts, international issues, personal trading, gift and entertainment, lobbying and pay-to-play, reconciliations, policy reviews and database maintenance. In addition, responsible for running the day-to-day Compliance Risk Management Program and SEC 206(4)-7 Annual Report process, as well as regulatory reporting for multiple legal entities across the US and Europe. Coordination with PGIM Central and other PGIM businesses units will also be required in certain core compliance activities. This is a challenging position with high exposure to senior PPC leadership.
Principal Job Responsibilities:
The role has responsibility for compliance monitoring, support of marketing activities, compliance training, creating, and implementing new policies and procedures, and forensic testing and monitoring. In addition, the position will assist in monitoring business activities to ensure they are performed in compliance with Company policy, securities laws, and SEC, FINRA, state insurance and applicable foreign regulations. The incumbent will play a key management role within the PPC Compliance organization and assist the Chief Compliance Officer in the overall activities of the unit. Specific responsibilities include:
Promote, protect, and set the tone to reflect the Company's reputation for ethics, integrity and honesty in all dealings.
Work with all levels of PGIM and PPC management to ensure appropriate regulatory processes and controls are established and documented within the areas of responsibility.
Monitor the effectiveness of established compliance processes and controls and recommend and implement enhancements.
Review and oversight of key topics such as investment allocations, investment guidelines, valuation and conflicts of interest.
Assist management with identifying and resolving regulatory issues both within the business unit and across multiple units.
Assist regulatory, auditors and business unit management with regulatory exams and inquiries.
Develop and effectively administer a compliance monitoring program including, but not limited to: marketing review, website review, licensing and registration assessment, sales activity monitoring and development, new hire and annual training; account portfolio monitoring, broker dealer coordination and initiatives, monitoring and documenting internal processes, coordinating management reporting; researching transactions, facilitating procedure resolution, and reporting to management as appropriate.
At least 10 years of compliance experience, primarily in an asset management organization or other financial services company required.
Knowledge of the following regulations desired:
Investment Advisers Act of 1940 ("Advisers Act") the Rules under the Advisers Act; the Securities Act of 1933; and the Securities Exchange Act of 1934
FINRA Conduct Rules
ERISA knowledge a plus
Foreign Corrupt Practices Act
Private fund, and private placement experience a plus.
Excellent presentation, oral and written communication skills.
Excellent judgment and ability to handle highly confidential business matters in a fair and consistent manner.
Ability to reach sound judgments and act quickly under tight deadlines.
Strong analytical, organizational, project management and problem-solving skills.
Strong relationship management, interpersonal leadership skills and proven experience in dealing with senior management.
Highly motivated and able to work independently.
Excellent organizational and time management skills.
Candidates must be able to work independently and possess a high level of integrity.
BA/BS Degree is required. Advanced degree is a plus.
Note: Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $175,500.00 to $237,500.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. Roles may also be eligible for additional compensation and/or benefits. Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. In addition, employees are eligible for standard benefits package including paid time off, medical, dental and retirement.
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
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, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.
The Prudential Insurance Company of America, Newark, NJ and its affiliates.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at [email protected] for more information about doing business with Prudential.
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