PGIM Fixed Income: Manager, Fixed Income 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

As a key member of our Operations team, you will support our Private Credit, Special Situations, and Asset-Based Finance business, including Direct Lending, Opportunistic Credit, and Distressed Debt/Restructures. Your primary focus will be on assisting the Deal Teams with various aspects of deal execution, settlement, and secondary trading processes. This role involves significant interaction with Portfolio Management, Legal, and other internal parties to ensure seamless operations.

What you can expect

• Deal Execution: Facilitate the execution process for privately held assets, including trade capture, wire processing, KYC, settlement, and coordination with deal teams, internal counsel, data integrity, external parties, and more. Candidates should be capable of quarterbacking a new deal from inception to closing with minimal oversight.

• Trade Capture: Record primary and secondary trading activities in the Order Management System.

• Reconciliation: Collaborate with internal teams to research and resolve cash and position reconciliation breaks in a timely manner.

• Wire Management: Independently ensure that deals are funded and wires are processed promptly with little guidance from management.

• Reporting: Independently compile regular and ad-hoc reports for various areas within the firm.

• Strategic Initiatives: Assist in strategic initiatives related to technology and process enhancements.

• Trade Settlements: Independently manage settlements and transfers for primary and secondary bond, privately held equity, and private loan trades.

• Loan Servicing: Review and distribute agent notices internally and respond to audit requests.

What you will bring

• Educational Background: Bachelor’s Degree in Finance, Accounting, Business, or a related discipline.

• Professional Experience: 5-10 years of experience in Financial Services, particularly in Private Credit, Restructures/Special Situations, Bond, or Bank Loan Operations.

• Technical Expertise: Proficiency in interpreting Credit Agreements and Purchase Agreements, and intermediate to advanced skills with Microsoft Office Suite.

• Attention to Detail: A detail-oriented self-starter with the ability to work independently and as part of a team.

• Problem Solving: Strong problem-solving and critical thinking abilities.

• Work Ethic: A strong work ethic, honesty, integrity, and excellent interpersonal and communication skills.

• Time Management: The ability to manage and prioritize multiple tasks in a deadline-driven environment.

• Industry Knowledge: Understanding of the global trade lifecycle and industry technology (DTCC CTM, Swift, Bloomberg).

• Additional Skills: Experience working with Transfer Agents, settling Delayed Draw Term Loans (DDTL) and Revolvers, and instructing/settling DWAC, DRS, FOP, and physical bonds or equities is a plus.

• Software Proficiency: Experience with Aladdin and WSO (or other loan servicing platforms) is advantageous.

*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

Note: Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $135,000 to $145,000. Specific pricing for the rol