PGIM Fixed Income - Investment Risk Associate (Hybrid/Newark, NJ)
PGIM Fixed Income is a global asset manager offering active solutions across all fixed income markets. With approximately 1000 employees and $770bn assets under management, the company has offices in Newark, London, Letterkenny, Amsterdam, Munich, Zurich, Tokyo, Hong Kong, and Singapore. Our business climate is a safe inclusive environment, centered around mutual respect, intellectual honesty, transparency, and teamwork. Our leaders are focused on talent & culture; dedicated to fostering growth & development at all levels to develop the industry leaders of tomorrow.
PGIM Fixed Income Investment Risk Management is responsible for overseeing risk positioning for over $500 billion in third-party client assets in more than 600 individual portfolios. Investment Risk is a close-knit group of technical and motivated individuals operating in a cooperative environment. The group works closely with the rest of the investment organization in a variety of roles including the development and maintenance of risk budgets, consultation with the trading desks concerning portfolio positioning and development of Fixed Income’s proprietary risk system.
Investment Risk Management is seeking to add an experienced Associate to maintain its high level of service and support to the organization as the size and breadth of assets under management continue to grow. We are looking for a seasoned professional with demonstrated fixed income and/or investment risk management experience with the ability to quickly add value to the many functions of our group.
Primary responsibilities of the successful candidate include:
- Attend and participate in internal portfolio management and strategy review meetings to represent risk management and keep up with market developments, sector views and trading strategies
- Begin to independently risk manage mandates and other aspects of the risk framework, reporting to more senior members of the team
- Be prepared to lead the team through a summary review of notable risk positions and proposed resolutions at weekly risk meetings
- Assist with the review of risk related aspects of client guidelines to identify constraints that will influence portfolio construction and/or internal alpha targets and risk budgets. Coordinate with client advisors to negotiate acceptable resolutions.
- Support the team with managing client/portfolio onboarding and account maintenance including coordination with Client Advisors, Client Onboarding, Compliance, Portfolio Analysts and Portfolio Managers, as necessary
- Assist with the creation of documentation and presentation materials for use internally and with clients to describe various aspects of our proprietary internal analytics
- Participate in internal training and information to broaden the organizations understanding of our risk analytics
- Provide support to all aspects of the risk management function, including oversight of daily portfolio risk positioning, interaction with portfolio managers to address risk issues, review and sign-off on the risk related aspects of client guidelines, risk budgeting, addressing client inquiries, responding to ad-hoc requests for risk analysis or information from internal and client sources, etc.
- Develop relationships with colleagues throughout the organization to ensure that Risk Management, the Portfolio Analysis Group and Portfolio Management teams have the risk tools and information required to effectively manage portfolios
- Coordinate with Quantitative Modeling and Strategies and the systems group on designing, testing, implementing and documenting changes to our proprietary internal risk analytics and systems. Meet with affected trading desks to review proposed changes and highlight impacts on portfolio risk
- Coordinate with associates in investment risk and the Quantitative Research Group to prepare responses to due diligence questionnaires, requests for proposals and ad-hoc inquiries from clients and prospects related to our Investment Risk Management Framework
Necessary Job Skills / Experience
- Bachelor’s degree, preferably with concentration(s) in Finance, Economics, Mathematics, Business, Data Analytics or Engineering
- 5+ years fixed income investment experience
- CFA, graduate degree or willingness to pursue
- Demonstrated competence with statistical, quantitative and technical aspects of fixed income markets
- Strong interpersonal skills and experience interacting with senior management and seasoned investment professionals
- Exceptional organizational and task/project management skills. Ability to manage multiple, and at times competing, priorities to specific deliverable timelines within both a team construct and individually
- Attention to detail, accuracy, and completeness
- Demonstrated skills as a team player and capable of working independently
- Ability to maintain high levels of productivity and self-direction and act as a liaison for internal constituents
- Shares responsibilities for the group with peers and demonstrates leadership potential
- Excellent verbal and written communications skills including the ability to productively give/receive feedback and share ideas
- Extensive experience with MS Excel, Tableau, Python, SQL and other technical data analysis / modelling tools and ability with to work with large datasets - Embraces and encourages change and development
This is a hybrid role and will require to work in the Newark, NJ office three days a week and two days remote.
PGIM is proud of its distinctive and inclusive culture, with a sound reputation for the pedigree and professionalism of its employees. PGIM has a feeling of quality and stability, but at the same time it is forward-thinking and evolutionary in its approach. Employees have a unique opportunity to build their career path by owning their development, their career and their future. As a result, staff turnover is particularly low, and leadership is dedicated to growing talent at all levels within the organization.
Note: Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations.
The salary range for this role is from $130,000 to $150,000. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. Roles may also be eligible for additional compensation and/or benefits. Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. In addition, employees are eligible for standard benefits package including paid time off, medical, dental and retirement.
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.
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