PGIM Fixed Income - Associate Manager, Alternative Operations (Hybrid/Newark, NJ)

Job Classification:

Investment Management - Investment Operations

A GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE

As the Global Asset Management business of Prudential, we’re always looking for ways to improve financial services. We’re passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world.

We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you’ll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world’s leading global asset managers! 

If you’re not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that’s investing in your future by shaping tomorrow today.

At PGIM, You Can!

What you will do

The Associate Manager is responsible for providing support to the Prudential Investment Management Fixed Income CLO business. 

What you can expect

• Monitor CLO platform and provide solutions to support trading desk by determining investment eligibility across funds.

• Lead trade testing initiative through delegation and open communication on various trading scenarios

• Review and analyze legal documents to provide accurate investor reporting and understand all underlying eligibility requirement.

• Support fund launches by managing process from Pricing to Closing date, including approval of Flow of Funds.

• Manage team’s monthly investor reports deliverables to ensure test, trading activity, and other deal trend accuracy.

• Oversight and ownership of all data attributes within the compliance application to provide optimal support to CLO Analysts and Portfolio Managers.  

• Primary point of contact for activities performed by the CLO Business Management Team, specifically for monthly trustee reports.

• Reconcile holdings and 50+ data attributes between internal compliance application against the Trustee(s) data for his/her respective deal on a monthly basis.

• Calculate and verify quarterly distribution payments made to Dryden CLO investors.

• Reconcile and investigate cash discrepancies with trustees and internal/external operational teams.

• Test and validate new compliance model as per the CLO Indenture; provide feedback to vendor, if needed.

• Establish proper controls and create efficiencies to mitigate risk and improve processes.

• Manage internal relationships (Operations, Analysts, Portfolio Managers, Technology) and external members (Trustees and Investors) to ensure proper service levels are achieved.

• Manage, lead, and develop direct reports through core processes and career management.

• Develop an understanding of the Fixed Income trading business and use that knowledge to increase service levels.

What you will bring

• Degree in Economics, Finance, or Business preferred.

• 4 to 5 years of Collateralized Loan Obligations (CLOs) and/or Bank Loans experience.

• Familiar with key tests within the Indenture – OC/IC, WAS, WARF, WAC, C-Basket, Discount Obligations, and other haircuts

• Experience with any CLO Compliance system preferred.

• Experience with S&P’s Wall Street Office and/or BlackRock’s Aladdin.

• Outstanding academic achievement, extracurricular involvement, work experience and demonstrated leadership skills.

• Solid understanding of Fixed Income products, investment strategies, and derivatives preferred

• Excellent analytical and problem-solving skills.

• Self- starter, self-motivated, and ability to work within a team environment.

• Willingness and desire to learn and teach others.

• Proficient knowledge of Excel; VBA a plus

• Excellent written and verbal communication skills.

• Ability to work in a fast-paced, high-intensity environment.

• Able to multi-task and manage multiple projects/requests in a timely manner.

* Dependent upon the business, flexible work schedules are necessary to provide coverage to our business partners from 7:00 a.m. to 8:00 p.m.  Prudential Investment Management follows the NYSE holiday schedule.  This position also requires over-time during peak periods (Quarter/Month end).

*PGIM welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.

What we offer you

• Medical, dental, vision, life insurance and PTO (Paid Time Off)

• Retirement plans:

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