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Compliance Manager


Ethics & Compliance

Tracking Code


Job Description

Position Overview 

The Compliance Manager assists the CCO, PMAM/Penn Series in the design, development and implementation of our asset management Compliance Program.  The purpose of our Compliance Program is to comply with laws and regulations that apply to investment advisers, as well as our internal policies and procedures designed to prevent, detect, and correct any violation of laws,  regulations, or policies.  The Compliance Manager role is within the Ethics and Compliance Penn Mutual Life Insurance and also interacts with teams covering compliance matters of the Penn Mutual Life Insurance and its affiliates



  • Support the design, development, implementation and monitoring of our Compliance Program
  • Support the design, development, implementation and monitoring of the proprietary fund complex compliance program relating to 29 funds including ten directly-managed funds and 19 equity and fixed income strategies managed by external advisers (sub-advisers)
  • Specific day-to-day activities include:
    • Collaborate in the maintenance of policies and procedures
    • Manage the quarterly and annual update and filings of adviser and fund registration and governing documents, for example, Form ADV, prospectus, Form PF, CTA/CPO filings, SAI, PPM and EM, among others
    • Execute transactional, periodic and forensic testing surrounding investment advisory activities
    • Execute periodic testing and monitoring of third-party partners or service providers related to accounting, transfer agency, custody, and administrator functions
    • Co-facilitate the execution of comprehensive due diligence and onsite visit compliance program for external asset managers in accordance with Investment Company Act of 1940, including annual 15c due-diligence review for the Penn Series Funds
    • Assist the CCO in the annual reviews under 206(4)-7 and under 38(a)-1 and develop annual reports
    • Assist the CCO in the Board and Committees reporting including preparing meeting materials and presenting to the governance bodies
    • Remain current with regulations and  maintain working knowledge of the Investment Company Act of 1940, the Investment Advisers Act of 1940, and any related amendments, state investment requirements and other relevant regulations surrounding PMAM activities
    • Periodic monitoring of liquidity classifications for the Fund’s Liquidity Risk Management Programs, supporting the Fund’s LRMP Program Administrator
    • Conduct periodic oversights of compliance rules programmed in Bloomberg’s AIM, while assist Operations on any coding and new rules setup and maintenance
    • Manage Compliance Analyst(s) for testing and monitoring and other activities
    • Perform other compliance activities as assigned

Required Skills

  • Ability to create, document and monitor processes
  • Excellent written and verbal communication skills
  • Strong prioritization and time management skills
  • Proven ability to build effective business relationships with business partners at all levels,
  • The ability to work effectively in a collaborative, team-oriented, fast-paced environment
  • Strong leadership skills and the ability to lead a small team.
  • including senior management, throughout the organization as well as external to the organization
  • Excellent analytical and problem solving skills
  • Dedicated attention to detail, consistency and thoroughness
  • Strong time management skills and the ability to manage various assignments and efforts simultaneously
  • Knowledge of the Bloomberg system and other related applications and tools

Required Experience

  • 5+ years of investment adviser compliance experience in a similar role


 Education/Licenses/Professional Designations 

  • Bachelor’s degree in Business, Finance, Accounting, or other related field required
  • FINRA Series 7, 24, 66 preferred, but must be obtained with 120 days of hire
  • Interest and motivation in pursuing professional designations (ex: CFE, CFA)


Salary Level = 22


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.

Leaders may, at their discretion, change the responsibilities in this position description at any time due to reasonable accommodation and/or other business reasons.



About the Penn Mutual Life Insurance Company 

Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted financial professionals, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its financial professionals with retirement and investment services through its wholly owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at


Job Location

600 Dresher Road, Horsham, PA

Position Type


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