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Asset Management - Newark (NJ), NJ PGIM Fixed Income | US Team Lead - Environmental, Social, and Governance Research

About the position

Company Overview

PGIM Fixed Income is a global fixed income asset manager with $920 billion assets under management as of June 30, 2020, making it one of the largest fixed income managers in the world. T


PGIM Fixed Income stands out for the stability and consistency of its investment processes, investment and research teams and its track records. In concert with its internal stability, PGIM Fixed Income also enjoys a high level of client loyalty and a redemption ratio that is far below industry standard.


PGIM Fixed Income’s capabilities and expertise extend across a wide range of traditional and non-traditional fixed income sectors globally. As a group, it specializes in managing credit-related portfolios including investment grade and high yield corporate bonds (global, European and US) emerging markets debt, structured products and bank loans, and multi-sector portfolios. It also manages specialized products including hedge fund strategies (relative value, global macro and emerging market long/short) and collateralized loan obligations (CLOs).


PGIM is proud of its distinctive culture. It is a non-political and non-aggressive organization with a sound reputation for the pedigree and professionalism of its employees. PGIM Fixed Income has a feeling of quality and stability, but at the same time it is forward-thinking and evolutionary in its approach. PGIM Fixed Income has created an environment centered around mutual respect, trust in each other, collegiality, teamwork, meritocracy, intellectual honesty, transparency, and an unwavering commitment to our clients. Employees find it a hugely congenial place to work with a strong sense of team spirit existing throughout the organization at every level. As a result, staff turnover is particularly low, especially on the investment side where senior investment professionals average 20 years tenure with the firm. This is also testament to the group’s dedication to its employees, helping them develop their careers within the organization.


Role Background

PGIM Fixed Income is in the process of expanding its ESG research team as it continues to enhance its ESG capabilities. ESG is fully integrated into PGIM Fixed Income’s investment process and the firm’s 100+ experienced credit research analysts have the primary responsibility for assessing all credit material ESG factors for each issuer they cover. To the extent such ESG factors represent significant risks and/or opportunities for an issuer, this is reflected in its fundamental credit rating. In addition, PGIM Fixed Income’s credit research analysts are tasked with assigning each issuer they cover a separate ESG impact rating. These are not risk ratings, but instead reflect the degree to which an issuer’s overall ESG impact is positive or negative for the environment and society.


To complement the work done by its credit research team, PGIM Fixed Income is currently building a distinct ESG specialist team, which will be responsible for:


Maintaining, enhancing and ensuring the consistent implementation of PGIM Fixed Income’s ESG integration approach, including the processes used to analyze ESG risks and opportunities as well as the framework for applying its ESG impact ratings.


Undertaking sector, thematic, and issuer-level ESG research across all fixed income asset classes and regions.


Partnering with credit research analysts, economists and portfolio managers to identify and incorporate material ESG factors into their investment analyses and decision-making.


Engaging with issuers on ESG issues, both individually and in partnership with credit research analysts and economists.


Tracking ESG-related developments from a market, regulatory and thematic perspective and formulating strategies for PGIM Fixed Income to adapt accordingly.


Understanding and analyzing 3rd party ESG data and research, working with the firm’s technology support group to constantly improve ways of accessing and applying this data, and investigating potential new sources of such information.


Producing ESG-related thought leadership for use by PGIM Fixed Income and its clients.


Interfacing with peers, industry groups and other external ESG organizations.


Partnering with PGIM Fixed Income’s client advisory group to explain the firm’s ESG approach to clients, respond to their ESG-related queries and improve the ESG-related reporting they receive.


Participating in the design and launch of new ESG products and strategies.


The ESG specialist team is led by PGIM Fixed Income’s head of ESG research, who is based in London and reports directly to the firm’s global head of credit research and portfolio management. The team itself will eventually be comprised of 7 professionals split between London and Newark.


Key Job Responsibilities


Maintaining and enhancing PGIM FI’s approach to analyzing ESG risks and opportunities as well as the proprietary framework for applying its ESG impact ratings.


Undertaking sector, thematic, and issuer-level ESG research across all fixed income asset classes and regions.


Building and maintaining relationships with portfolio managers, credit analysts and economists in order to ensure the integration of the ESG specialists team’s work into their investment decision-making processes.


Leading the ESG specialist team’s engagement efforts in the US in close partnership with credit research analysts and economists.


Meeting with US-based clients to explain PGIM Fixed Income’s ESG approach and managing ESG-related relationships with North America-based peers, industry groups and other external ESG organizations.


Tracking ESG-related developments from a market, regulatory and thematic perspective and formulating strategies for PGIM Fixed Income to adapt accordingly, with a focus on North America.


Producing ESG-related thought leadership for use by PGIM Fixed Income and its clients.


Acting as the ESG specialist team’s “on-the-ground” point person in the US and managing 2 other US-based ESG specialists.


This position will be based in Newark.

Qualifications

8 years of experience in an ESG focused role within asset management


Strong knowledge of fixed income asset classes and strategies.


Solid experience conducting ESG research at a sector and/or company level, and ability to assess the materiality of ESG factors for investment performance.


Strong skills and experience in engagement with companies at the board and senior management levels, as well as regulators, policymakers and other stakeholders.


Experience interacting with clients and a proven ability to build and maintain relationships, both internally and externally.


A clear capacity to manage others, with experience doing so a plus.


Excellent analytical skills


Excellent communication and presentation skills, with the ability to clearly articulate complex ideas and concepts at a level of detail adapted to the audience.


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 staffingagencies@prudential.com for more information about doing business with Prudential.

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