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

Prudential Financial•Newark, NJ

3d•Hybrid

About The Position

The Associate supports PGIM Alternative Investments’ operations platform, with responsibility for settlement activities for USD bank loans and assistance with non-USD bank loans. The work includes maintaining data integrity, communicating about trades, coordinating settlements, and supporting ongoing portfolios. The role works closely with Portfolio Management, Deal Teams, Legal, Compliance, counterparties, custodians, trustees, and agent banks to execute transactions accurately and on time. The Associate coordinates with trade counterparties and borrowers to receive and review loan-trade documentation and facilitate KYC and onboarding for new accounts. The role also addresses operational issues, investigates security-data discrepancies, monitors industry initiatives and market trends, anticipates and mitigates operational risks, and identifies process improvements. The position may lead large-scale strategic initiatives in collaboration with vendors and internal technology teams. This position is based in Newark, New Jersey, and follows a hybrid schedule with three days in the office. The Associate joins a global operations team with staff in Newark, London, and Ireland.

Requirements

Five to seven or more years of experience closing par loans.
Experience drafting and reviewing loan-trading documentation.
Strong knowledge of bank-loan products.
Familiarity with par and near-par loan-trading market conventions.
Ability to read and interpret credit agreements.
Strong presentation, written communication, and interpersonal skills, including experience engaging with all levels of management.
Superior analytical skills, accuracy, and careful attention to detail.
Ability to organize and prioritize tasks and work in a deadline-oriented environment.
Critical-thinking and problem-solving experience.
Ability to develop and cultivate relationships across staff levels.
Self-motivation and ability to work in a team environment.
Willingness to learn and teach others and take on additional responsibility.
Strong written and verbal communication skills.
Ability to work in a fast-paced, high-intensity environment.

Nice To Haves

A degree in Economics, Finance, or Business.
Exposure to Aladdin, Wall Street Office, and S&P application suites.
Familiarity with distressed-loan trading conventions.
Experience with the ClearPar loan-closing system.
Outstanding academic achievement, extracurricular involvement, work experience, and demonstrated leadership qualities.

Responsibilities

Support settlement activities for US (LSTA) and non-USD (LMA) bank loans.
Maintain data integrity and coordinate trade communications and settlements.
Coordinate with counterparties and borrowers to receive and review loan-trade documentation.
Facilitate KYC and onboarding for new accounts.
Collaborate with Portfolio Management, Deal Teams, Legal, Compliance, counterparties, custodians, trustees, and agent banks to support accurate and timely transactions.
Research and resolve security-data discrepancies and operational issues.
Help staff solve problems and incorporate processes that mitigate risk.
Keep abreast of industry initiatives and market trends that may affect the business or offer opportunities to improve processes.
Anticipate operational issues affecting bank-loan support and take action to reduce the risk of their occurrence.
Communicate issues proactively with relevant business partners and provide resolutions that consider impacts on other operational areas.
Identify process inefficiencies and proactively seek improvements using available tools.
Cultivate internal and external relationships to achieve appropriate service levels.
Lead and manage large-scale strategic initiatives in collaboration with vendors and internal technology teams.

Benefits

Market-competitive base salary with yearly bonus potential.
Medical, dental, vision, life, and disability insurance.
Paid time off and leaves of absence, including parental and military leave.
401(k) plan with company match up to 4%.
Company-funded pension plan.
Wellness programs, including up to $1,600 per year in reimbursement for eligible personal-wellbeing purchases.
Work/life resources covering areas such as parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
Education benefit for approved degree programs and accredited certificate programs.
Employee Stock Purchase Plan, with shares available at 85% of the lower of the beginning or ending purchase-period price.
Eligibility to participate in a discretionary annual incentive program, subject to program rules and applicable performance factors.