PGIM Fixed Income: Vice President, Commercial Real Estate Debt Research (Hybrid/Newark, NJ)

PGIM • Newark, NJ

47d • $175,000 - $200,000 • Hybrid

About The Position

This will be a senior commercial mortgage-backed securities (CMBS) research role within the Securitized Products group at PGIM Fixed Income. The successful candidate will underwrite and analyze the creditworthiness of CMBS collateral and related commercial real estate loans. This role involves detailed financial analysis, market research, and risk assessment to support the investment decisions of the portfolio management team.

Requirements

• Minimum of 8 years' experience in commercial real estate credit analysis & underwriting.
• Underwriting experience should include a majority of property sectors. Workout experience is a plus
• Keen interest in capital markets and the securitization of CRE debt instruments
• Strong analytical and financial modeling skills
• Excellent communication and presentation skills
• Understanding of fixed income and bond valuation concepts
• Works well as part of a team and enjoys a fast paced, high intensity environment
• Possesses strong attention to detail and ability to manage tasks and deadlines effectively
• BA/BS degree required (MBA, MS and/or CFA are pluses)

Responsibilities

• Perform re-underwriting of transaction collateral by evaluating property cash flows, market trends, property location, tenant credit quality and other relevant factors
• Develop and maintain complex financial models to project cash flows and assess the impact of various scenarios on CMBS portfolios.
• Conduct stress testing and scenario analysis to evaluate the impact of adverse market conditions on CMBS portfolios
• Review of transaction documentation packages (credit memos, appraisals, environmental reports etc.)
• Prepare detailed credit presentations and reports for senior research analysts and portfolio managers
• Present buy or sell recommendations to portfolio management team based on credit analysis
• Ongoing monitoring and analysis of portfolio positions to assess credit risk, ratings stability, and cash flow volatility
• Maintain views of dynamics within various property-type sectors, major geographical markets, and CMBS primary and secondary markets
• Mentor and trains junior members of the CMBS team in fundamental credit analysis

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.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Funds, Trusts, and Other Financial Vehicles
• Number of Employees: 1,001-5,000 employees