PGIM Credit, Sr Associate, Asset Backed Securities Research
About The Position
A research position on the Consumer Asset Backed Securities (“ABS”) credit research team within the Securitized Products group of PGIM Credit. The successful candidate will work closely with the ABF and ABS portfolio management teams to help formulate Consumer ABS strategy and help monitor the Consumer ABS portfolio. The successful candidate will be responsible for analyzing transaction collateral and economic conditions, assigning and maintaining internal credit ratings, reviewing transaction structures and documentation packages, communicating with investment banking teams, working closely with portfolio management and other internal colleagues to determine investment suitability and relative attractiveness, conducting surveillance on existing investments, and following industry trends.
Requirements
- Bachelor’s degree required
- 4-7 years of relevant experience in fixed income, securitized products, or consumer finance, with meaningful exposure to Consumer ABS or related consumer credit products.
- Strong analytical and quantitative skills.
- Exposure to consumer loan collateral, securitization structures, cash flow analysis, and key drivers of Consumer ABS performance are required.
- Proficiency in Excel and some experience working with large datasets is required.
- Strong attention to detail and ability to manage multiple assignments in a fast-paced environment.
- Excellent communication and presentation skills, with the ability to articulate investment views clearly.
- Intellectual curiosity and strong interest in Consumer ABS and consumer lending markets.
Nice To Haves
- Programming and data visualization skills (e.g., Python, Power BI, Tableau) are preferred.
- Experience with Intex and structured finance modeling are preferred.
Responsibilities
- Contribute to capital deployment strategies by identifying high-impact opportunities across Consumer ABS sectors and issuers, fueling investment idea generation and market positioning.
- Present and support investment research and relative value trading strategies to the ABS portfolio management team, shaping the risk and positioning of the Consumer ABS book.
- Engage with an issuer’s executive team to analyze business models, operational strategies, and financial health in the process of developing and maintaining internal credit ratings.
- Assess issuer performance by integrating bottom-up historical data with top-down macroeconomic trends to inform risk-return expectations and influence security level buy, hold, or pass decisions.
- Design, enhance, and maintain analytical tools and visualizations to strengthen risk and analytics frameworks, to drive actionable data driven insights.
- Impact Consumer ABS sector strategies by monitoring emerging consumer borrower performance trends, macroeconomic indicators, and legal and regulatory changes.
- Track Consumer ABS portfolio positions to evaluate credit risk, rating stability, and cash flow dynamics, while identifying trading opportunities.
- Advance ESG integration by contributing to proprietary ESG Impact Ratings and documenting ESG engagements.
- Build and nurture relationships with market participants, including buy-side investors, legal teams, rating agencies, sell-side firms, and trustees—to gain insights on emerging market dynamics.
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).
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
