Asset Management - Newark (NJ), NJ PGIM Fixed Income - Director, Trading Documentation
About the position
Are you looking to grow your career and deepen your understanding of financial services products under the Asset Management umbrella? Are you looking to diversify your skill-set by expanding your professional & technical skills with a growing organization? We are seeking a Global Markets Documentation Negotiator to join PGIM Fixed Income’s Trading Documentation Group. The Trading Documentation Group supports master agreement documentation across the trading product spectrum for all range of PGIM Fixed Income’s global client base, including hedge funds, pension plans, mutual funds, corporations, trusts, insurance companies, money market accounts and government agencies (foreign and domestic).
Who are we?
PGIM Fixed Income is a global asset manager offering active solutions across all fixed income markets. We have offices in Newark, New Jersey, London, Netherlands, Tokyo and Singapore. The firm has over $700 billion of assets under management. More than 500 institutional asset owners have entrusted PGIM Fixed Income with their assets.
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.
Trading Documentation Production
• Drafting, analyzing, negotiating and executing master agreements (including ISDA, Futures & OTC Clearing, futures give up agreements, Cleared Derivatives Execution Agreements, MSFTA, GMRA, MRA, MSLA, prime brokerage and related tripartite agreements) and other ancillary documents (including NDA Agreements) across the trading product spectrum and a broad range of clients. Our Documentation Negotiators must ensure that legal, operational and other risks are adequately addressed in trading agreements.
• Understand impact of core regulations on the derivatives and other trading markets such as Dodd Frank, EMIR, FATCA, MiFid II and other applicable regulations on the business area and ensure that agreements meet such regulatory requirements. The successful individual will review/negotiate a broad range of standard legal agreements but must also be comfortable working on bespoke documentation structures.
• Apply in-depth understanding of how associated risks differ depending on product and documentation envisaged in relevant jurisdiction(s) and advise accordingly. Liaising with business units, operations, legal, credit, compliance, client services and broker/dealers on various documentation issues relating to clients and contracts.
• Contribute to the development and implementation of process improvements, through liaising with internal stakeholders such as Risk, Client Risk Facilitation, Client Onboarding, Regulatory Reform, Operations, Compliance and Legal.
• Work with internal legal counsel to resolve more complex issues, such as ERISA provisions.
• Comply with internal and external audit requests, including supplying client documentation and other relevant information as requested by auditors in accordance with specified time frames.
• Participate in conference calls with business colleagues and external clients to discuss issues relating to trading documentation.
• The successful candidate will be expected to develop a strong understanding of PGIM’s products, services and client base.
Client Documentation Review
• Reviewing Investment Management Agreements and guidelines to check for appropriate provisions provide comments and ensure that appropriate documentation can be put in place to allow trading in the client account.
• Review of formation documents (i.e. Trust Agreements, Prospectus, Partnership Agreements, Offering Memorandum, Memorandum and Articles of Association, Tax Documents or other corporate governance documents). These documents evidence capacity and authority of client and permitted investments of our clients.
Other Support Functions:
• Maintain negotiation priority list including status of each negotiation and track execution phase of documents until file is complete
• Maintain original master agreement files.
• Oversee input of agreement terms into Collateral Database.
• Monitor monthly NAV decline ratios.
• Ensure NAV reports are sent to counterparties on a monthly basis
• Notify counterparties of certain events relating to manager or fund (including updated guidelines or prospectuses).
• Monitor OTC counterparty ratings and guideline requirements regarding such ratings.
• Create and maintain document templates.
• Identify, track and coordinate within the firm key documentation issues and credit terms.
• Learn, use and help develop procedures, policies and system tools.
10+ years of experience at a large financial institution as a document negotiator.
J.D. degree and Bachelor's degree from an accredited school are preferred.
Strong verbal, interpersonal and drafting skills a must. This includes the ability to convey thoughts clearly and succinctly and to communicate complex information in a clear and organized manner.
Strong analytical and organizational skills.
The ability to manage multiple priorities, work under pressure to meet deadlines, respond creatively and quickly in a fast-paced and changing environment.
The ability to work independently while understanding when to involve other team members as needed and to work effectively in a team environment.
High degree of integrity and strong work ethic. The ability to promote best practices within department.
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.