Financial Reporting Associate

Prudential Financial • Newark, NJ

5d • Hybrid

About The Position

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 ALM – Treasury Controllers group is looking for a Financial Reporting Associate. The group is responsible for direct oversight of Prudential’s derivative, cumulative translation adjustments (CTA) and debt/treasury stock activity, including the reporting, analyzing, and communicating of those results to Senior Management and the Prudential businesses. The group is also responsible for the analyzing, reporting, and communicating actual and forecasted derivatives results of PFI to senior management, Prudential businesses and external financial filings under US GAAP and Statutory accounting standards. Specific functional areas cover: Accounting and financial reporting for Prudential Global Funding (PGF) subsidiary All aspects of the reporting and analysis of General Account, Domestic and International derivative and foreign exchange (“FX”) activities Prudential Global Funding (PGF) acts as a derivatives conduit by facilitating derivative and related activity for PICA and other subsidiaries of Prudential. This subsidiary maintains an investment portfolio consisting of derivatives (including swaps, options, futures, credit default swaps and foreign exchange contracts), cash equivalents and bonds. The successful candidate would have primary responsibility in preparing and reviewing the daily, monthly and quarterly financial reporting requirements of the PGF subsidiary. The current employee work arrangement 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.

Requirements

• Undergraduate degree, preferably in Accounting or Finance
• Self-motivated and proactive with ability to work independently and as part of a team
• Good analytical and problem-solving skills
• Proficient in Microsoft Excel (advanced formulas and functions)
• Highly organized and attentive to details
• Effective interpersonal, communication and partnering skills
• Able to effectively prioritize and manage time in a fast-paced, ever-changing and challenging environment
• Flexibility to work overtime is required

Nice To Haves

• Experience with Oracle general ledger and related reporting supplemental tool and Finastra Summit a plus

Responsibilities

• Complete the daily profit & loss (P&L) statements and accounting entries for investment activity, including interaction with derivative Traders
• Prepare the PGF subsidiary monthly and quarterly book close journal entries and reconcile ledger accounts to appropriate supporting systems reports or data
• Assist in the preparation of the subsidiary’s quarterly stand-alone financial results and analysis presentation for senior management
• Prepare PGF stand-alone annual reports, including financial statements and footnotes
• Daily monitoring of derivative trades for proper hedge code assignment
• Quarterly consolidation and analysis of derivative results by strategy for international subsidiaries
• Coordinate with functional and business partners in PGF Operations, PGF Documentation Group, PGF Systems, International subsidiaries, Treasurers, and Investment Risk Management, as well as Internal and External Auditors
• Ensure that the accounting and financial reporting processes and deliverables are controlled and meet Sarbanes-Oxley requirements
• Support department projects and ad-hoc requests
• Assistance in monitoring, analysis, and presentation of Company-wide foreign currency exposure, including impact to Company-wide cumulative translation adjustment (CTA)
• Support periodic forecasting of Derivative results for PFI

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.
• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Number of Employees: 5,001-10,000 employees