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PGIM Fixed Income | Principal, Special Situations - Securitized Products at Prudential Ins Co of America

Posted in Accounting 30+ days ago.

Type: Full-Time
Location: Newark, New Jersey





Job Description:

PGIM is the diversified asset management business of Prudential Financial, Inc. (NYSE: PRU). With $1.5 trillion in assets under management, and 38 offices spanning 16 countries, PGIM is among the world’s top-10 largest asset managers. Comprised of seven self-governing asset management divisions, each PGIM business offers a distinct workplace culture that aligns with the firm’s ultimate objective: to provide premier service to our clients while fostering an inclusive workplace culture that is rooted in trust, respect and equality.

Our Business:

PGIM Fixed Income is a global asset manager offering active solutions across all fixed income markets. With 950 employees and $968bn assets under management, the company has offices worldwide. Our business climate is a safe inclusive environment, centered around mutual respect, intellectual honesty, transparency, and teamwork. Our leaders are focused on talent and culture; dedicated to fostering growth and development at all levels to develop the industry leaders of tomorrow.

Our Role:

A research position working with the Principal of the Special Situations transaction team within the 24-person Securitized Products group of PGIM Fixed Income ($112bn assets under management). The successful candidate will work closely with the team’s senior associates to help evaluate bespoke U.S. and global transactions across the ABS/CMBS/RMBS sectors and conduct ongoing research activities in these sectors. The successful candidate will be responsible  for reviewing transaction documentation packages, developing and maintaining issuer and complementary creditor partnerships, conducting issuer due diligence as necessary, communicating with investment banking teams,  working closely with portfolio management, in-house counsel, and other internal colleagues to determine investment suitability and relative attractiveness, presenting  to clients and conducting surveillance on existing investments and industry trends.

Your Impact:


  • Underwriting new issue and secondary investment opportunities

    • Working with senior research analysts and traders to source opportunities

    • Negotiating document terms with issuers, sponsors and other transaction parties

    • Analyzing collateral to develop modelling assumptions

    • Determining proprietary credit ratings

    • Performing an ESG review of the issuer and transaction parties and assign the proprietary ESG Impact score



  • Undertaking the ongoing monitoring and analysis of portfolio positions to assess credit risk, credit ratings stability, cash flow volatility, portfolio positioning and trading opportunities

  • Presenting results from transaction-specific and sector-wide analyses to wider internal and external audiences, including portfolio managers and clients

  • Maintaining views on industry-wide issues that impact originators, broker/dealers & investors. Responsibilities may include monitoring U.S. and global regulatory changes, accounting and capital requirement changes, federal, state, and global lending laws, and any legal precedents.

Your Required Skills:


  • Robust knowledge of the issuers, intermediaries, and investors in the U.S.; familiarity with global participants is beneficial

  • Solid understanding of U.S. and European securitization structures, legal foundations, and legal transaction documents

  • Demonstrated ability to source, underwrite, document and monitor transactions

  • Excellent attention to detail and the ability to work independently while contributing to the overall team culture

Your Desired Skills:


  • Post-graduate qualification or CFA a plus

  • Possesses strong communication and presentation skills

  • Enjoys a fast paced, high intensity transactional environment

  • Solid capabilities in fixed income mathematics and statistics

Our Culture:

Prudential Financial, Inc. is focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don’t just accept difference—we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career, and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential.

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Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

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, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law. 

The Prudential Insurance Company of America, Newark, NJ and its affiliates.

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.

PEOPLE WITH DISABILITIES:
If you need an accommodation to complete the application process, which may include an assessment, please call (800) 433-8960, prompt 4 or email accommodation.h&w@prudential.com.

Please note that the above number and email are solely for individuals with disabilities requesting an accommodation.  If you are experiencing a technical issue with your application or an assessment, please email careers@prudential.com to request assistance.





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