PGIM - Sr. Associate, Loan Operations
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! Our PGIM Private Capital (PPC) Trade Operations team is looking for a Senior Investment Operations Associate. This position involves loan servicing for PPC’s Direct Lending business and interacting extensively with internal and external business partners to assist in facilitating deal closings. With a strong attention to detail, the successful candidate will need to be able to review closing documentation for accuracy as well as maintain organization across data entry systems to effectively capture trade details. This position is based in our office in Newark, New Jersey and will follow a hybrid schedule (3 days in office).
Requirements
- Bachelors Degree and 2+ years in the banking or financial services industry
- Strong attention to detail
- Independent problem-solving skills
- High level of self-motivation
- Excellent communication and analytical skills
- Ability to multi-task during high volume periods
- Strong PC skills, including extensive knowledge of Microsoft Suite, specifically Excel
Nice To Haves
- Experience using Wall Street Office
- Loan closing and servicing experience
Responsibilities
- Loan servicing for PPC’s Direct Lending portfolio
- Review documentation and closing requirements prior to trade settlement
- Ensure accurate trade booking
- Liaise with PGIM Fixed Income and Trustees on servicing and growing the PPC CLO business
- Prepare daily/weekly/monthly reports and reconciliations
- Daily cash matching of open payables/receivables and monitoring of bank account activity
- Data entry into PAM sub-ledger accounting system & Wall Street Office for loan terms
- Review and process wires generated related to Alternatives cash movements
- Review wire instructions and complete call-backs with banks and agents
- Liaison between Deal Teams/Legal and Operations
- Review legal docs for loan terms and document in standardized format
- Maintain documentation to comply with enterprise and departmental standards, facilitating audits and examinations by internal and external regulatory bodies
- Prepare forward hedging models with PGF to mitigate foreign currency risk for non-USD assets
- Continuously seek to find process improvements to increase overall operational productivity and efficiency
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.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Number of Employees
5,001-10,000 employees
