1+ months

PGIM Fixed Income - Associate, Collateral Management & Servicing - GLO000OZ

Newark, NJ
  • Job Code
Primary Location United States-New Jersey-Newark (NJ)
!*!PGIM Fixed Income, with $920 billion in assets under management as of June 30, 2020, is a global asset manager offering active solutions across all fixed income markets. The company has offices in Newark, N.J., Amsterdam, London, Tokyo and Singapore
The Collateral Management and Servicing Senior Associate is responsible for providing collateral management operational support to the PGIM Fixed Income business for Swaps, Futures, FX, Options, Repo and MBS. Responsibilities include monitoring counterparty exposure and collateral, supporting initial margin, performing position reconciliations, as well as maintaining open dialogue with internal Operations teams (ex: Product Support, Confirmations, CODI), as well Portfolio Managers, client relations representatives, and counterparties.
Job responsibilities may include:
Knowledge of derivative products
Reconciliation of trade details against executing and/or clearing counterparty
Daily reconciliation and instruction of variation margin
Daily monitoring of counterparty exposure, and resulting collateralization in accordance with our executed trading agreements (ISDA/CSA, GMRA/MRA, MSFTA, CDEA)
Verify, place/respond, and instruct upon daily collateral margin calls. Including substitutions, research and resolution of disputed items.
Fails resolution for all settlements (i.e. Collateral moves, interest, swap payments, variation margin)
Performing monthly collateral reconciliations against counterparties/banks to internal systems.
Verifying/validating periodic payments related to derivative products (i.e. swaps)
Assuming ownership for any operational issues that are raised and providing resolution in a manner that is seamless regardless of which operational issues are impacted.
Anticipating issues that may adversely affect the operational support of all derivative products and taking action to reduce the risk of such occurrences.
Proactively seeking ways to improve current processes by leveraging the tools available.
Cultivating both internal and external relationships to ensure proper service levels are achieved and maintained for each fund supported.
Keeping abreast of industry initiatives and market trends that can impact our business model and/or offer opportunities to improve our processes.
Develop an understanding of the fixed income trading business and share knowledge with operations teams in order to increase service levels.


Qualifications include:

  • Degree in Economics, Finance or Business preferred
  • Knowledge of derivatives and/or other fixed income products and investment strategies.
  • Outstanding academic achievement, extracurricular involvement, work experience and demonstrated leadership qualities.
  • Previous Operations experience. 

@!*!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 companys 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. For more information please visit www.prudential.com.

Prudential is not accepting unsolicited resumes from search firms for this open position unless contracted with Staffing. Agencies must work with Staffing as the primary point of contact and follow the Prudential application process to be considered for business. All resumes submitted by search firms to any employee at Prudential via-email Internet or directly to hiring managers in any form without a valid written search agreement in place for that position will be deemed the sole property of Prudential and no fee will be paid in the event the candidate is hired by Prudential.
Note: Any search agreement entered into with Prudential before January 2004 is null and void. Search firms are essential to the recruitment and staffing efforts at Prudential and we value the partnerships we have built with our preferred vendors. Prudential has established and regularly maintains a preferred vendor list and even preferred vendors need to have a written search agreement signed by the Director Recruiting Programs Staffing at Prudential in place for the specific position in order for a fee to be paid for any candidate referrals.
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Posted: 2020-10-15 Expires: 2020-12-13

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PGIM Fixed Income - Associate, Collateral Management & Servicing - GLO000OZ

Newark, NJ

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