PGIM Fixed Income - Trader, Agency Mortgage Backed Securities
- Newark, NJ
PGIM Fixed Income is a global asset manager offering active solutions across all fixed income markets. As of December 31, 2018, the firm has $743 billion of assets under management including $312 billion in institutional assets, $132 billion in retail assets, and $299 billion in proprietary assets. Over 600 institutional asset owners have entrusted PGIM Fixed Income with their assets.
There is a Trader opening within the Agency Mortgage Backed Securities group in PGIM Fixed Income. The successful candidate will be part of a team which will address the needs of client portfolios spanning Institutional, Retail, General Account and Leveraged Hedge Funds. The successful candidate will be expected to use proprietary and third-party models, in addition to current market information, to monitor portfolio risk and positions, and to assist in the development and implementation of both relative value and macro strategies across our client base. Given the dynamic and global nature of the fixed-income markets, the candidate will be expected to be active and engaged in the market throughout the entire NY trading session along with flexibility to work with our Asia affiliates from time to time. The candidate must show a strong desire to learn, participate and engage in a competitive, fast-paced, dynamic environment.
Upon successful completion of training and clear demonstration of market aptitude, the successful candidate will be granted trading execution authority under the supervision of an experienced portfolio manager. The candidate will be expected to take ownership of trades from the beginning to end, and to grow into a leading alpha generation role.
Responsibilities will include:
- Relative Value idea generation and implementation across the Agency Mortgage sector. Execution of trades for client portfolios as warranted, given the successful completion of training as noted above. Trades will be executed via voice or electronic trading platforms.
- Daily interaction with Wall Street salespeople and traders to obtain market information and trade ideas. The candidate will be expected to disseminate information in a timely fashion to other team members.
- Daily review of cash and risk management reports necessary in the proper management of client accounts.
- Review of in-house, bank and 3rd--party client performance reports.
- Ad-hoc reporting and marketing proposal requests.
- Participate in client and department market review meetings
- 8 years of experience in Agency Mortgage Backed Securities within either a trading or portfolio management team
- MBA, CFA or equivalent work experience.
- Solid capabilities in fixed-income mathematics
- Experience trading to be announced "TBAs" and specified pools a must and experience trading CMM, IOS, MBS Options or CMOs are highly desirable.
- Strong understanding of portfolio risk and compliance functions.
- Solid understanding of Agency MBS mandates
- Ability to work in a stressful environment is a must.
- Strong exper ience with MS Excel
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