PGIM: Director, Product Development (Hybrid/Newark, NJ)

Prudential•Newark, NJ

44d•Hybrid

About The Position

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! We are seeking an individual to join our Product Development team. Our team manages the product development lifecycle and plays a critical role in creating, structuring, and delivering innovative investment strategies (public and private) to global investors across all channels (including retail, institutional, insurance and private wealth). This role will support strategic initiatives, primarily focused on creating, structuring and delivering innovative private real estate investment solutions for the institutional channel. The role will have immediate impact, leading the implementation of the new fund launches and creation of innovative fund structures. This individual will play a key role in driving the growth of PGIM's alternatives efforts globally, by having a deep expertise on the current investment vehicle structure landscape and translating this knowledge to help design competitive alternatives products. This person will partner cross-functionally with the investment, distribution, marketing, legal, tax and business operations teams, including senior leadership and executive stakeholders. Strong analytical skills, experience in the asset management industry and the ability to independently drive product-related initiatives are a must. Leadership with humility, detail-orientation, clear communication, and teamwork will be critical characteristics necessary to succeed in this role. This position reports to the Senior Product Development Specialist dedicated to PGIM's Real Estate business, based in London, UK. However, the individual who fills the role will join a large product development team based in Newark, NJ. This is an excellent opportunity for someone who has worked in an investment product related area in the past and is very motivated to learn/get exposed to the wide breadth of business and strategy of the PGIM organization.

Requirements

8+ years of relevant experience required; experience preferably related to knowledge of asset management related to the real estate investment market and vehicle structures
Capacity to handle multiple projects simultaneously; strong execution and follow through skills in a fast-paced environment
Intellectually curious, goal-oriented individual, self-starter with a bias toward action and a commitment to work with integrity to deliver high quality results
Ability to manage ambiguity, solve complex problems, propose workable solutions and distill complex information into simple, clear, communication format
Strong analytical, problem-solving, highly organized with strong attention to detail.
Clear communication (written and verbal) with proven ability to easily collaborate with all levels of the organization
Ability to work independently and build partnerships across all levels of the organization
Proficiency in full Microsoft suite.

Nice To Haves

Experience launching new funds from start to finish
Self-starter, efficient and flexible to meet and work within time-sensitive deadlines
Excellent interpersonal skills, written and verbal skills, attention to detail
Ability to plan, prioritize and manage multiple complex initiatives at different levels of granularity
Team player; must be able to establish and maintain effective, cooperative working relationships with all departments and organizational levels
PGIM welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.

Responsibilities

Collaborate with key stakeholders across distribution, product strategy, portfolio management, marketing, legal, tax, technology, business operations and compliance to bring alternatives strategies to market that continuously meet evolving client needs
Oversee and execute cross-functional activities spanning the product lifecycle including product design, development, approval, go-to-market preparedness, post-launch operational readiness, and related infrastructure build-out
Partner with the real estate investment teams, legal and tax counsel to define structuring for private and registered products (covering closed-end and open-end and evergreen structures)
Lead cross-functional activities related to the design and launch of new alternative investment products
Manage alternative product pipeline content and meet with internal stakeholders to communicate new product pipeline activities
Act as subject matter expert for the firm on the PGIM Real Estate's commingled funds platform, key fund structuring concepts, distribution markets and channels, and the impact of local regulations; leverage knowledge to support innovation
Maintain technical expertise and understanding of regulatory, legal and tax frameworks, proactively considering the implications on new and existing products and responses to changing requirements

Benefits

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.
401(k) plan with company match (up to 4%).
Company-funded pension plan.
Wellness Programs 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.
Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
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.

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