Operations - Newark, NJ PGIM Fixed Income Operations - Senior Associate, Derivatives Operations & Collateral Management
About the position
Are you looking to grow your career within Operations and deepen your understanding of financial services products under the Asset Management umbrella? Are you looking to diversify your skill-set by expanding your quantitative skills with a growing organization? We are seeking a Security Operations Investment Associate who will be responsible for providing operational support to the PGIM Fixed Income business for (Swaps, Futures, FX, Options, and MBS).
Who are we?
PGIM Fixed Income is a top global fixed income asset manager with over $681 billion in assets under management. Our parent company is Prudential Financial, Inc. We are headquartered in Newark, NJ (U.S.) with affiliates in London, Tokyo and Singapore.
PGIM Fixed Income maintains a collegial and supportive work environment that promotes and rewards individual contributions while placing equal importance on results of the larger team. Associates within PGIM Fixed Income share their insights, skills, and diverse perspectives with a talented team working toward common goals. We place high priority on maintaining a work environment that develops, motivates, rewards, and retains employees. We offer a total rewards package that includes competitive pay, performance-based incentives, long-term savings opportunities, and just as important, support for life beyond work.
Our Operations team is a dynamic group that collaborates with all areas of Prudential; in turn creating a myriad of learning opportunities and a collaborative culture. Operations span all of our products and markets while we serve as an internal business partner to aid in processes and controls; as well as help improve our systems that deliver accuracy, efficiency, and the overall integrity to our business.
Responsibilities include trade confirmation, monitoring counterparty exposure and collateral, supporting initial margin, providing payment oversight, performing position reconciliation’s, as well as maintaining an open dialogue with Product Support, portfolio managers, and counterparties.
They also may include:
Knowledge of derivative products.
Confirmation of trade details against executing and clearing counterparty
Monitoring of new trades to ensure receipt of legal confirms from counterparties
Research and resolve trade discrepancies
Daily reconciliation and instruction for variation margin
Daily monitoring of counterparty exposure to support collateral service agreement (CSA) and initial margin requirements
Verify, place/respond and instruct upon daily collateral calls. Including substitutions, research and resolution of disputed items.
Fails resolution for all settlements (ie. Trade payments, margin, collateral and principal & income)
Performing monthly collateral reconciliation for internal system(s) and external business partners
Verifying and instruct periodic payments
Researching and resolving security data discrepancies
Responding to ad-hoc reporting request
Assuming ownership for any operational issues that are raised and providing resolution in a manner that is seamless regardless of which operational areas are impacted.
Anticipating issues that may adversely affect the operational support of all derivative products and taking action to reduce the risk of occurrences.
Providing investment professionals with on-site training and technical assistance on use of existing or future systems.
Proactively seeking ways to improve current processes by leveraging the tools available to identify inefficiencies.
Cultivating both internal and external relationships to ensure proper service levels are achieved for each fund supported.
Communicating operational support changes and initiatives to all impacted areas of Operations and investment professionals.
Keeping abreast of industry initiatives and market trends that can impact our business model and/or offer opportunities to improve our processes.
Developing an understanding of the fixed income trading business and sharing knowledge with operations teams in order to increase service levels.
- Degree in Economics, Finance or Business preferred.
- Knowledge of derivatives and/or other fixed income products and investment strategies.
- Outstanding academic achievement, extracurricular involvement, work experience and demonstrated leadership qualities.
- Previous Operations experience.
- Willingness and desire to learn and teach others.
- Proven ability to develop and cultivate relationships across all staff levels.
- Strong analytical and problem solving skills.
- Self-motivation and ability to work within a team environment.
- PC skills with strong knowledge of spreadsheets, portfolio management tools and mainframe applications.
- Has an entrepreneurial spirit that is willing to take on additional responsibility quickly
- Strong written and verbal communication skills.
- Enjoys a fast-paced, high-intensity environment.
- Works well as part of a team.
- Able to multi-task and absorb information across a broad spectrum of products.
- Ability to organize, prioritize tasks and work in a deadline oriented environment.
Dependent upon the business, flexible work schedules is necessary to provide operational coverage to our business partners from 7:00 a.m. to 8:00 p.m. One of the responsibilities of this position includes the processing of wire transfers. In accordance with the Treasurer's Policy "Background Screenings on Wire Transfer Associates", any candidates selected for this position will be required to submit to a background screening including an extensive background screening and credit check. Failure to comply will eliminate a candidate from consideration for this position. In addition, any negative information obtained as a result of the background screening may result in the disqualification of the candidate from this and any other position in Prudential, including their current one if they are an internal applicant. Prudential Investment Management follows the NYSE holiday schedule. This position also requires over-time during peak periods.
Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at email@example.com for more information about doing business with Prudential.Apply Now
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