PGIM Fixed Income, with $920 billion in assets under management as of June 30, 2020, is a global asset manager offering active solutions across all fixed income markets. The company has offices in Newark, N.J., Amsterdam, London, Tokyo and Singapore
The Collateral Management and Servicing Senior Associate is responsible for providing collateral management operational support to the PGIM Fixed Income business for Swaps, Futures, FX, Options, Repo and MBS. Responsibilities include monitoring counterparty exposure and collateral, supporting initial margin, performing position reconciliations, as well as maintaining open dialogue with internal Operations teams (ex: Product Support, Confirmations, CODI), as well Portfolio Managers, client relations representatives, and counterparties.
Job responsibilities may include:
- Knowledge of derivative products
- Reconciliation of trade details against executing and/or clearing counterparty
- Daily reconciliation and instruction of variation margin
- Daily monitoring of counterparty exposure, and resulting collateralization in accordance with our executed trading agreements (ISDA/CSA, GMRA/MRA, MSFTA, CDEA)
- Verify, place/respond, and instruct upon daily collateral margin calls. Including substitutions, research and resolution of disputed items.
- Fails resolution for all settlements (i.e. Collateral moves, interest, swap payments, variation margin)
- Performing monthly collateral reconciliations against counterparties/banks to internal systems.
- Verifying/validating periodic payments related to derivative products (i.e. swaps)
- Assuming ownership for any operational issues that are raised and providing resolution in a manner that is seamless regardless of which operational issues are impacted.
- Anticipating issues that may adversely affect the operational support of all derivative products and taking action to reduce the risk of such occurrences.
- Proactively seeking ways to improve current processes by leveraging the tools available.
- Cultivating both internal and external relationships to ensure proper service levels are achieved and maintained for each fund supported.
- Keeping abreast of industry initiatives and market trends that can impact our business model and/or offer opportunities to improve our processes.
- Develop an understanding of the fixed income trading business and share knowledge with operations teams in order to increase service levels.
- Degree in Economics, Finance or Business preferred
- Knowledge of derivatives and/or other fixed income products and investment strategies.
- Outstanding academic achievement, extracurricular involvement, work experience and demonstrated leadership qualities.
- Previous Operations experience.