This position is responsible for overseeing the Compliance program for mitigating compliance and regulatory risks associated with Prudential’s ILI Distribution organization. Key risks relevant to ILI Distribution include failing to:
promote and market Prudential’s products and services in a fair and balanced manner;
comply with FINRA, department of insurance and state anti-inducement rules and regulations governing gift, entertainment and other cash and non-cash compensation activities; and
maintain all required securities and insurance registration, licensing, and appointments.
The position is based in Prudential’s Hartford, CT office and is responsible for supervising a staff of two Compliance Managers based in Hartford, CT. The ILI Sales Compliance team is responsible for performing numerous Compliance control activities, monitoring and surveillance, including but not limited to, the following:
Administering Compliance training;
Distributing ongoing Compliance communications;
Writing and maintaining Compliance policies and procedures;
Performing upfront and ongoing Compliance due diligence reviews of the firms with which ILI has sales agreements;
Reviewing gift and entertainment activities;
Testing to ensure sales personnel maintain all required licenses and registrations;
Monitoring emails;
Reviewing proposed sales contests and other business initiatives;
Performing Compliance risk assessments;
Performing trend analysis to identify potential sales practice issues;
Partnering with other Compliance, Risk Management, Law and other personnel to ensure ILI Distribution maintains a strong control environment.
The Director is expected to maintain a high level of engagement with and serve as a Compliance advisor to ILI Distribution associates including all levels of Management.
As the leader of the ILI Sales Compliance team, the Director is responsible for the ongoing development of ILI Sales Compliance staff members.
The Director serves as a member of the ILI Compliance Senior Leadership Team responsible for setting strategic goals and objectives for the department.
Qualifications
The successful candidate will possess the following attributes:
uncompromising strong moral compass;
very strong developer of talent;
strategic thinker;
excellent collaboration, interpersonal and negotiating skills including the ability to interact with and positively influence business personnel and Management;
strong drive for results;
excellent written and verbal communication skills;
strong analytical and risk analysis skills;
7-10 years of relevant Compliance experience;
knowledge of relevant securities and insurance rules and regulations;
knowledge of financial services distribution channels (i.e. wirehouse, brokerage general agents, captive insurance);
knowledge of life insurance products and features;
Series 6/7 and 26/24 a plus
Occasional travel, including but not limited, to Newark, NJ and other Prudential locations.
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