Associate, Investment Operations - Bank Loan Settlements - PGIM Alternative Investments (Hybrid/ Newark, NJ)

Job Classification:

Investment Management - Investment Operations

A GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE

As the Global Asset Management business of Prudential, we're always looking for ways to improve financial services. We're passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world. We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you'll unlock a motivating and impactful career - all while growing your skills and advancing your profession at one of the world's leading global asset managers! If you're not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that's investing in your future by shaping tomorrow today. At PGIM, You Can!

What you will do

In this role, you'll play a key part in supporting PGIM's Alternative Investment Operations platform. The Associate will be responsible for the support of all settlement activities as they relate to USD Bank Loans as well as assist where needed with any non-USD bank loans. This includes data integrity, trade communications/settlements. The role requires extensive collaboration with Portfolio Management, Deal Teams, Legal, Compliance, Counterparties, Custodians, Trustees, and Agent Banks to ensure the accurate and timely execution of transactions and ongoing portfolio support.

Our Operations team is a dynamic group that collaborates with all areas of Prudential; in turn creating a myriad of learning opportunities and a collaborative culture. Operations span all of our products and markets while we serve as an internal business partner to aid in processes and controls; as well as help improve our systems that deliver accuracy, efficiency, and the overall integrity to our business.

The Associate will be responsible for the support of all settlement activities as they relate to USD Bank Loans as well as assist where needed with any non-USD bank loans. This includes data integrity, trade communications/settlements, and requires frequent communication with Trustee's, Agent Banks, Legal, Compliance and Portfolio Management

This position is based in our office in Newark, NJ and will follow a hybrid schedule. Our organization follows a hybrid work structure (3 days in office) where employees can work remotely and/ from the office, as needed, based on demands of specific tasks or personal work preferences. Working from the office is encouraged when working on tasks that require a high degree of collaboration.

What you can expect

• Join a global operations team by working with staff located in Newark, London, and Ireland.
• Having an extensive knowledge of Bank Loan products.
• Support all settlement activities as they relate to US (LSTA) and Non-USD (LMA) Bank Loan settlements
• Candidate will be responsible for coordinating with trade counterparties/ borrower to receive, review loan trade documentation, and facilitate the KYC/Onboarding of any new accounts.
• Help staff solve problems and incorporate new processes to mitigate risks
• Keeping abreast of industry initiatives and market trends that can impact on our business model and/or offer opportunities to improve our processes.
• Researching and resolving security data discrepancies
• Assuming ownership for any operational issues that are raised and providing resolution in a manner that considers the impact to other operational areas.
• Anticipating issues that may adversely affect the operational support of the Bank Loan product and take action to reduce the risk of occurrences.
• Proactively communicating issues with relevant business partners
• Proactively seeking ways to improve current processes by leveraging the tools available to identify inefficiencies.
• Cultivating both internal and external relationships to ensure proper service levels are achieved
• Candidates will interact with people in different groups and across various levels both internally and externally to resolve problems.
• Ability to take the lead and manage large scale strategic initiatives. This should include collaboration with vendors and internal technology teams.

What you will bring

• Degree in Economics, Finance or Business preferred.
• Previous exposure to Aladdin, Wall Street Office, and S & P suites of applications is a plus.
• Strong knowledge of Bank Loan products. (5- 7+ yrs).
• Candidate will have minimum of 5-7 years' experience closing par loans, including: the draft and review of all forms of loan trading documentation. Familiarity with Par/Near Par loan trading market convention. (Familiarity with Distressed loan trading convention a plus).
• Experience with ClearPar loan closing system.
• Ability to read and interpret credit agreements.
• Strong presentation, written communication, and interpersonal skills with exposure to all levels of management
• Superior analytical skills, accuracy and careful attention to detail are crucial.
• Abili