Chief Compliance Officer PGIM Investments Mutual Funds

Job Classification:

This role serves as the Chief Compliance Officer (“CCO” or “Fund CCO”) for Prudential Mutual Funds (retail mutual funds, insurance funds, alternatives) and PMFS (transfer agent). In this capacity, the Fund CCO will have reporting line in to the VP Compliance, PGIM Investments CCO and to each of the three Fund Boards of PGIM mutual fund families. The individual in this role works closely with and supervises the mutual fund compliance team and the due diligence team responsible for compliance coverage across Prudential’s businesses that rely on affiliated and unaffiliated subadvisers. The Fund CCO may also lead a portion of the PGIM Investments global compliance team which provides specialized, centralized support to various fund platforms and business units across PGIM Investments global footprint. 

PGIM Investments (“PI”) has a mutual funds business which focuses on traditional mutual funds and separately managed accounts. PI also supports the mutual funds which are offered as investments in retirement, annuity, and variable life products offered by Prudential. The Strategic Investment Research Group provides research for PI's managed accounts business and sub-advised mutual fund family, as well as Prudential's variable annuity, variable life, and retirement services offerings.

The Fund CCO is responsible for the design and implementation of a compliance program which is effective in preventing, detecting and mitigating violations of applicable law or Prudential policies. The Fund CCO will also help lead and continuously develop a seasoned compliance team. He/she will be responsible for providing ongoing compliance support and advice for the day-to-day fund-related activities of PI as well as new initiatives. The Fund CCO will also be an active member of various committees related to the Funds (valuation, derivative risk management, liquidity risk management).

The Fund CCO plays a key role within the Asset Management Compliance organization and assists Compliance management in the overall activities of the unit. The Fund CCO leads projects that strengthen and maintain compliance activities across the various retail platforms PI and more broadly across the organization.

The role has responsibility for compliance monitoring, support of marketing activities, compliance training, creating and implementing new policies and procedures, reporting, and forensic testing.

Key Responsibilities:

• Work with all levels of Asset Management personnel with respect to the appropriate establishment, implementation, and documentation of regulatory processes and controls
• Oversee administration of compliance policies and procedures for the Funds, including oversight of portfolio compliance for the Funds, compliance testing for various Fund activities, administration of the Funds'  Code of Ethics, and monitoring of quarterly compliance reporting by the Funds' service providers
• Provide quarterly compliance reports to the Boards of Directors/Trustees
• Meet regularly with the Boards of Directors/Trustees on the adequacy and operation of the compliance program, material compliance matters and violations, changes and recommendations for changes in fund policies and policies of its service providers
• In coordination with the PI Legal Department, prepare and review the Funds’ regulatory filings
• Conduct initial and ongoing due diligence reviews/oversight of the Funds' Adviser, sub-advisers and other Fund service providers' compliance with applicable policies and procedures pertaining to management of the Funds

• 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 and recommend and implement enhancements
• Partner with internal legal, fund administration and investment functions to manage compliance/regulatory risk
• Assist management with identifying and resolving regulatory issues both within the business unit and across multiple business units
• Assist regulators, auditors and business unit management with regulatory exams and inquiries
• Provide Compliance support for new product initiatives
• Develop, organize, and deliver consistent compliance related training, and reinforce all compliance-related communications
• Partner with the law department to analyze changes to regulatory requirements and proactively manage regulatory developments and changes
• Coordinate with other Asset Management Compliance teams, Corporate Compliance, and other divisions as necessary

Position Qualifications:

• Bachelor's degree
• Advanced degree a plus (MBA, JD)
• Experience managing a team of professionals
• Ability to coach and develop individuals
• Prior experience as a mutual fund and/or investment adviser Chief Compliance Officer
• Able to develop a strong relationship with each of the Fund Boards
• Ten plus years of compliance or related experience, primarily investment management
• Proven communication (verbal, written, interpersonal), analytical and project management skills
• Understanding of complex investment-related products and strategies
• Strong relationship management and leadership skills are desired including experience and ability in dealing with senior management
• Understanding of the investment process and mutual fund operations
• 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
• Knowledge of the Investment Advisers Act of 1940 and the Investment Company Act of 1940; CFTC regulation, NFA regulation, and ERISA.