Director, Regulatory Supervision
Location:
Dresher , Pennsylvania
Posted:
October 18, 2017
Reference:
ANN000MT


The Annuities Suitability Review Team will focus on adherence to suitability obligations through partnership with Compliance, Legal, and Risk. The Team will review the suitability of transactions in accordance with the company’s suitability review process, and determine whether there is a reasonable basis for believing that the producer’s recommendation to purchase, sell, or exchange a product is suitable for the customer based on the information provided by the customer as to his or her other security holdings and financial situation and needs .

The Director is responsible for managing the staff and supervising the compliance functions of major areas or functions within a broader area of a business unit product group. Responsibilities include both broad compliance issues such as evaluation of new regulations, research on major issues, development of the firm’s response to proposed regulations and more narrowly defined issues such as money laundering. In conjunction with senior management, develops, recommends and executes business plans for area of responsibility and possesses complete knowledge of the principles, concepts, and practices of the compliance discipline, applying them to their broad understanding of Prudential products. In this role, the candidate will keep abreast of new products, technologies and applications as well as their implications for the assigned area. They will utilize negotiating skills, and provide counsel to senior management in sales, marketing, product development, portfolio management and other disciplines to ensure that compliance is attained. They will also develop compliance policies and programs that apply to their business unit and that may have firm-wide application. They are also responsible for initiating reviews of new product development and other major business initiatives and assist senior compliance management in conducting reviews of the most complex or sensitive compliance matters. They will initiate evaluation of current methods and strategies and implement changes and improvements. Additional responsibilities include:
  • Review and understand Company policies, procedures and guidelines regarding suitability of general securities transactions
  • Ongoing supervision of Annuity Suitability Team’s Suitability Review for decisions rendered and monitoring the quality of the reviews and the incumbent
  • E nsure that staff members responsible for reviewing transactions are adequately trained
  • Monitor Annuities Suitability staff approvals of producer's recommendation for the purchase, sale or exchange of a covered transaction
  • Perform review and approval of cases with highest risk and complexity
  • Responsible for oversight of Annuities Suitability escalation through the Governing Council Board
  • Quarterly and Annual Compliance Due Diligence Review
  • Monitor the business’s effectiveness in implementing established compliance processes and controls
  • Provide support for new product initiatives
  • Integrate industry benchmarking and best practices through ongoing research, education and industry affiliations.

Qualifications:
  • Bachelor's degree required; MBA or other advanced degree preferred
  • Minimum 7 years of annuities experience preferably with proven experience in a leadership or project role
  • Exceptional people management and talent development competency
  • Experience with FINRA, SEC and state regulations pertaining to suitability issues as they relate to broker dealers, and insurance firms preferred
  • Must be highly collaborative, open-minded and able to work with and influence others without having direct authority
  • Ability to c ollaborate with other Compliance teams, and colleagues across Prudential
  • A strong level of knowledge/experience relating to annuities suitability preferred
  • Strong communication skills and ability to work comfortably at the most senior levels of the business through clear written and verbal communications
  • Outstanding influence skills and demonstrated ability to work with senior stakeholders across business lines to build confidence and inspire collaboration
  • Demonstrated ability to deliver results while often challenged with time and resource constraints in a fast-paced environment
  • Comfortable with risk management; to include auditing, control reporting, and financial management.

A little about us:
Prudential was founded on the belief that being financially prepared is a right, not a privilege.

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