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

$95,000 - $105,000/Yr

Prudential Financial - Newark, NJ

Full-time - Entry Level

Newark, NJ

501-1,000 employees

Insurance Carriers and Related Activities

About the position

The Analyst, Alternative Operations at PGIM Fixed Income plays a crucial role in supporting the Prudential Investment Management Fixed Income CLO business. This position serves as the primary on-site business management point of contact for activities related to the CLOs supported by the CLO Business Management Team. The analyst will oversee and take ownership of all data attributes within the compliance application, ensuring optimal support for CLO Analysts and Portfolio Managers. This includes reconciling holdings and over 50 data attributes between the internal compliance application and the Trustee(s) data for respective deals on a monthly basis. In addition to data reconciliation, the analyst will perform daily, weekly, and monthly tasks to maintain data accuracy and integrity. Responsibilities also include calculating and verifying quarterly distribution payments made to Dryden CLO investors, performing hypothetical trade tests, and managing processes with the internal Product Support team and Trustees. The role requires investigating cash discrepancies with trustees and internal operational teams, supporting fund launches by managing processes from pricing to closing date, and testing new compliance models as per the CLO Indenture. The analyst will establish proper controls and build efficiencies to mitigate risk and improve processes while liaising with internal members (Operations, Analysts, Portfolio Managers, Technology) and external members (Trustees and Investors) to ensure service levels are met. A deep understanding of the Fixed Income trading business will be developed to enhance service levels further.

Responsibilities

• Serve as the primary on-site business management point of contact for CLO activities.
• Oversee and own all data attributes within the compliance application.
• Reconcile holdings and 50+ data attributes between internal compliance application and Trustee(s) data monthly.
• Perform daily, weekly, and monthly tasks to ensure data accuracy and maintenance.
• Calculate and verify quarterly distribution payments to Dryden CLO investors.
• Perform hypothetical trade tests and manage processes with internal Product Support team and Trustees.
• Reconcile and investigate cash discrepancies with trustees and internal operational teams.
• Support fund launches by managing processes from Pricing to Closing date, including approval of Flow of Funds.
• Test and validate new compliance model as per CLO Indenture and provide feedback to vendor if needed.
• Establish proper controls and build efficiencies to mitigate risk and improve processes.
• Liaise with internal and external members to ensure proper service levels are achieved.
• Develop an understanding of the Fixed Income trading business to increase service levels.

Requirements

• Bachelor's degree in Economics, Finance, or Business preferred.
• Outstanding academic achievement, extracurricular involvement, work experience, and demonstrated leadership skills.
• Solid understanding of Fixed Income products, investment strategies, and derivatives preferred.
• Strong analytical and problem-solving skills.
• Self-starter, self-motivated, and ability to work within a team environment.
• Strong knowledge of Excel; VBA a plus.
• Strong written and verbal communication skills.
• Ability to work in a fast-paced, high-intensity environment.

Nice-to-haves

• Experience in investment management or financial services industry.
• Familiarity with compliance applications and data reconciliation processes.

Benefits

• Medical, dental, vision, life insurance and PTO (Paid Time Off)
• 401(k) plan with generous company match (up to 4%)
• Company-funded pension plan
• Wellness Programs with reimbursement for personal wellbeing needs
• Work/Life Resources for various support topics
• Tuition Assistance for traditional college enrollment and accredited programs