Job Classification:
Investment Management - Investment Operations
At Prudential, we believe talent is key to achieving our vision. When you join Prudential, you’ll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world’s leading financial services institutions!
The Core Operations team within COO is seeking a Senior Investment Operations Specialist to join the team. The Core Operations provides trade support and back-office operations for Prudential Global Funding LLC, the Global Hedge Management team, as well as several affiliates. Primary support functions include ensuring the accurate maintenance of trade records for all OTC derivatives within the firm (for Prudential businesses only - excludes 3rd party managed and retail funds, non-guaranteed separate accounts), as well as certain exchange traded instruments from inception through maturity, confirmation and processing of payments related to derivatives activity, maintaining market data for purposes of trade valuations, management of collateral related to derivatives positions, preparation of daily risk reports for management, and drafting and reviewing contract confirmations.
The current Employee Work Agreement (EWA) for this position is Hybrid and requires your on-site presence on a reoccurring basis as determined by your business. Your manager will provide additional details relative to the specific number of days you are expected to be on-site.
What you can expect:
The specialist's responsibilities include some of the processes described below:
Cash Processes
Acts as the central point for all incoming or outgoing wire transfers. Some of the more critical functions associated with the Cash Desk include the daily bank reconciliation, cash projections and the processing of all US dollar and foreign denominated wires. Responsibilities may also include the daily preparation and processing of all interest rate swap payments, as well as any FX conversions and payments for both PGF and the Enterprise.
Market Data Processes
The team handles the uploading and maintaining of all the market data needed for the pricing and valuation of derivatives. Examples of this include setting the rates on all swaps, caps, floors and collars and ensuring the upload of the USD, FX, volatility and spread curves into the Summit system.
Collateral Processes
The team handles the daily monitoring of counterparty exposure to support the collateral service agreement (CSA) and initial margin requirements for cleared OTC and bilateral OTC derivatives. In addition to monitoring and reporting the exposure, responsibilities include responding to and instructing upon daily collateral calls. This includes substitutions, researching any disputed items, performing reconciliations of portfolios when disputes occur and managing the principal and interest processing of collateral posted and held.
Maintenance of new trades and performing deal verification to ensure the accuracy of the trade details in the derivative system.
Resolution of fails for all settlements.
Research and resolve trade discrepancies.
Responding to ad-hoc requests.
Additional job responsibilities may include:
Aside from the daily responsibilities, the individual is also expected to work on various assigned projects and become more actively involved in the development and implementation of value-added initiatives. Not only will such projects challenge the individual and broaden their scope of knowledge, but also benefit the group by streamlining and/or creating efficiencies to current work processes.
What you’ll need:
3+ years of related experience.
Bachelor's Degree.
Knowledge of regulatory compliance and industry requirements necessary to support the processes within PGF including but not limited to Sarbanes-Oxley and Dodd-Frank regulations.
Ability to learn and understand how the group fits into the larger organization and considers information from the customers’ perspective, so we can better meet their needs.
Excellent interpersonal skills. Ability to communicate in a tactful, diplomatic manner.
Good organization and time management skills.
Ability to complete both daily and long term assignments.
Ability to work well under pressure and meet tight deadlines.
Self-starter.
Solid understanding of Microsoft Excel.
Excellent quantitative and analytical skills.
Able to communicate and work well in a team environment.
It’d be a plus if you had:
Prudential welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.
At Prudential, you can:
Take charge of your career. People who have successfully developed their skills in this role have gone on to be promoted within Investment Management - Operations or have moved into a role within the Chief Investment Office (CIO)
We equip and empower our employees to expand their skills and experience by using powerful learning, gigs, and job opportunities. We offer a suite of services including 1:1 Career advice, on demand resources and networking to propel your career forward.
We’re a global organization, full of outstandingly dedicated people who aren’t afraid to think differently, challenge the status quo and take logical risks along the way. You will enjoy pushing boundaries as we build innovative technology that helps clients, customers and employees live their best lives. You will have access to leadership and learning opportunities and the resources needed to take your career in any direction. We will help you do your best work, offering flexibility, while delivering on our Purpose.
What we offer you:
Market competitive base salaries, with a yearly bonus potential at every level
Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave
Retirement plans:
401(k) plan with company match (up to 4%)
Company-funded pension plan
Wellness Programs to help you achieve your wellbeing goals, including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs
Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
Tuition Assistance to help finance traditional college enrollment toward obtaining an approved degree, many accredited certificate programs, and industry designations.
Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service.
To find out more about our Total Reward package, see our Total Rewards Brochure. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.
What we offer you:
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 $71,100.00 to $105,900.00. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills.
Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
Work/Life Resources to help support topics such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
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. To find out more about our Total Rewards package, visit Work Life Balance | Prudential Careers. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
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.
