With over $450 billion in assets under management, the Chief Investment Office (CIO) is responsible for asset liability management (ALM), interest rate risk management, oversight and reporting on investment performance and related hedge management activities. The Chief Investment Office is a major strategic partner to many other departments across the enterprise and relies upon a collaborative culture to effectively create both micro and macro solutions to the most interesting challenges at Prudential. The CIO controls the management of the investment portfolios of Prudential's General Accounts through its U.S. and International Portfolio Management groups, Alternative Assets Group, Portfolio Strategy Group, Global Hedge Management team and ALM Strategy & Analytics unit.
The individual will be part of Global Hedge Management (GHM). GHM provides comprehensive hedging solutions and efficient trade execution across multiple hedge programs. The GHM Trade Desk executes all derivative and foreign exchange hedges as required by the General Account. The GHM team also delivers thought leadership on new product development, capital markets trends and trade execution technology. The team supplies analytics and guidance on derivative usage across the enterprise while highlighting key performance measures for its various hedge programs.
Global Hedge Management is looking for an individual to build out and develop credit hedging and structuring expertise. The successful candidate will become part of a dedicated team with specific responsibility for supporting a credit derivative hedge program. Additional expectations include but are not limited to the following:
- Collaboration with Portfolio Managers and Strategists to identify bespoke credit hedging opportunities
- Execution of credit-based hedges
- Development of capital markets expertise pertaining to credit derivatives
- Generation of trade and hedging ideas for the purpose of generating net investment income
- Creation of appropriate pricing models
- Collaborate with Investment Risk Management (IRM) on measurement of risk
- Participate in quarterly portfolio review with CIO and IRM
The candidate will report to the Head of Equity and Option Trading.
- Minimum of five years of relevant credit and/or capital market experience
- Prior history of managing and identifying credit risks in portfolios
- Familiarity with derivatives such as options, total return swaps, ETFs and CDX
- Experience working on a trade desk with prior experience executing derivative trades
- Credit oriented training or experience
- Proficient financial modeling skills, with experience evaluating structured credit transactions
- Candidates with Math / Engineering / Computer Science background preferred
- Masters, MBA and/or CFA degree desirable
- Strong Excel skills with a background in VBA and Python helpful
- Tech forward mindset
- Candidate should exhibit strong personal drive, individual initiative, a sense of urgency and willingness to take on increasing levels of responsibility