Job Description
The Compliance Director assists the Associate Chief Compliance Officer (ACCO) with the implementation of the PMAM and PSF Compliance Program. The purpose of the compliance program is to comply with applicable regulations including the Investment Advisers Act of 1940, the Investment Company Act of 1940, including any related amendments, CFTC regulations, state investment requirements and other relevant regulations surrounding fund and advisory activities ensuring that our internal policies and procedures are designed to prevent, detect and correct any violation of laws, regulations or polices. Our Compliance Program is dynamic, and we periodically review the Compliance Program to provide assurance that it remains current with applicable laws and regulations and relevant to our business model.
Principal Responsibilities
This position will be responsible for the implementation and monitoring of the compliance program. Core responsibilities include:
- Assist the ACCO in the administration of the Ethics & Compliance program
- Provide effective leadership, mentorship, and coaching to direct reports
- Understand all components of Ethics & Compliance program framework
- Manage monitoring and testing, including the maintenance of the risk assessment
- Coordinate regulatory examination/inquiries
- Create Board Reporting materials
- Create education materials
Specific Responsibilities Include
- Ensure the compliance program is operating as intended and is compliant with applicable regulatory requirements
- Draft and maintain compliance policies and procedures
- Enhance and maintain risk assessments including evaluating inherent risk and exposure as well as applicable control environment or control augmentations needed
- Oversee control testing performed for critical areas and processes as part of the annual compliance review for PMAM and PSF
- Oversee periodic testing and monitoring of third-party partners or service providers
- Proactively monitor, analyze, report on and lead implementation of regulatory changes necessary to maintain compliance; advises stakeholders of emerging risks, agency guidance and recommendations to address same and mitigate attendant risks
- Report to the ACCO on key components of the program’s activities and effectiveness, including risks, incidents, and initiatives related to the compliance program
- Create and deliver compliance training and education to maintain proficiency with applicable laws and regulations
- Maintain strong relationships with business partners such as Operations, Information Management & Technology, Legal, Internal Audit, Human Resources, among others
- Provide management and coaching to team members
- Create regulatory exam and internal audit responses
- Assist with projects as needed
- Performs other duties as assigned
Required Skills
- Relationship management and problem solving skills
- Strong knowledge of regulatory environment, including examination/inquiry handling
- Strong verbal and written communication skills
- Ability to work effectively independently and in a collaborative, team-oriented, and fast-paced remote environment
- Project management
- Exceptional organizational and prioritization skills with demonstrated ability to manage competing priorities and complete tasks within or prior to deadline
- Excellent analytical and problem-solving skills, including the ability to disaggregate issues, identify root causes, and recommend solutions
Required Experience
- Minimum of 7 years related work experience in institutional asset management industry
- Minimum of 5 years of related work experience in Compliance leadership role
Education Preferred
- Bachelor’s degree in Business, Finance, Accounting Legal Studies, or an related field
- Advanced degree
Licenses/Professional Designations
- FINRA Series 7, 24, 66/65 and SIE preferred
- Professional designations (ex: IACCP, CPA, CFE)
Base Salary - $125,000 - $160,000
Penn Mutual helps people become stronger. Our expertly crafted life insurance is vital to long-term financial health and strengthens people’s ability to enjoy every day. Working with our trusted network of financial professionals, we take the long view, building customized solutions for individuals, their families, and their businesses. We support our financial professionals with retirement and investment services through our wholly owned subsidiary, Hornor, Townsend & Kent, LLC, member FINRA/SIPC.
Penn Mutual is committed to Equal Employment Opportunity (EEO). We provide employment and advancement opportunities to all qualified applicants and associates, according to applicable laws. This is reflected in our practices for hiring, placement, promotion, transfer, demotion, layoff, termination, recruitment, compensation, selection or training, and all other terms and conditions of employment. All employment-related decisions and practices are free from unlawful discrimination. This includes: race, creed, color, national origin, ancestry, citizenship age, gender (including pregnancy), sexual orientation, gender identity or expression, domestic partnership or civil union status, marital status, genetic information, disability, religious observance or practice, liability, veteran status or any other classification protected under applicable law.
