PGIM - Associate, SMA Investment Operations

Job Classification:
Investment Management - Investment Operations

What You Will Do

We are seeking an Associate to support the day-to-day operational functions of the separately managed account (SMA) platform. This role is responsible for providing end-to-end operational oversight for the SMA platform, ensuring accurate, timely, and well-controlled execution across daily, periodic, and annual processes. The position supports critical functions including billing and revenue reporting, client agreements and RIA documentation, new account onboarding, custodian coordination, operational reporting, and exception management. The role partners closely with Finance, Legal, Sales, Trading, and Technology teams to resolve issues, maintain data integrity, and support platform growth, while continuously enhancing operational controls, documentation, and process efficiency.

PGIM Custom Harvest, a division of the PGIM Global Wealth group, is a pioneer in the development of tax-beneficial investment strategies using exchange-traded funds (ETFs) for clients seeking improved after-tax outcomes. We provide full exposure to a client-selected benchmark while generating tax alpha through customized SMA portfolios of ETFs. PGIM Custom Harvest manages $7.1 billion on behalf of a wide range of RIAs and wealth managers.

What You Can Expect:

• Separately Managed Account Operations: Support of daily SMA operational workflows: Account onboarding, maintenance, and funding; Provide end-to-end operational oversight across daily, weekly, monthly, quarterly, and annual SMA operational processes to ensure accuracy, timeliness, and control.
• Billing & Revenue Support: Support all aspects of the billing lifecycle, including estimated and final quarterly management fees, terminations, and billing backup coverage; Prepare and deliver quarter-end management fee and account balance reporting for Finance, including PGIM seed and management fee accounts; Maintain and update Quarterly Management Fee Summary files and support revenue reconciliation processes.
• Client Agreements & RIA Documentation: Coordinate and support new and updated Client Service Agreements (CSAs) and RIA side letters, including onboarding of new RIAs; Ensure documentation is accurate, complete, and aligned with operational and legal requirements.
• New Account & Custodian Onboarding: Support new account onboarding across custodians, including Proxy Edge setup and custodian-specific configurations (e.g., LPL, Raymond James, Goldman Sachs); Assist with account setup nuances such as HIFO elections, sponsor profiles, and seed account templates.
• Daily Operational Oversight: Oversee daily operational workflows (Account terminations and reactivations, Corporate actions and related communications, Rep code updates and relationship pricing maintenance, Family ID linking and account data integrity reviews); Monitor and manage operational inboxes, systems, and service tools to ensure timely issue resolution; and Partner with internal and external stakeholders to investigate and resolve operational exceptions.
• Ongoing Reporting & Data Management: Produce and distribute daily and combined trade files, account status reports, and operational reporting for key stakeholders; Maintain and validate AUM, flow, and revenue reporting, including monthly and quarterly deliverables; Support quarterly data submissions for external benchmarks and providers.
• Periodic Process Oversight: Perform weekly operational reviews, including frozen account, FA detail, and non-model termination reviews; Manage monthly operational processes, such as AUM reporting, trade file delivery, and flow reporting; Support quarterly and annual oversight processes, including ADV distribution and benchmark AUM reporting.
• Operational Governance & Continuous Improvement: Maintain and enhance operational controls, templates, and documentation; Identify process gaps, risks, and opportunities for automation or efficiency improvements; Partner cross-functionally with Finance, Legal, Sales, Trading, and Technology teams on ongoing initiatives and enhancements.

• 3-5+ years of experience in investment operations supporting separately managed accounts (SMA's)
• Strong analytical and problem-solving skills with high attention to detail.
• Proficiency in Excel; familiarity with reporting or data tools is a plus.
• Ability to manage multiple priorities in a fast-paced environment.
• Strong communication skills and the ability to work cross-functionally
• Bachelor's degree in finance, accounting, business, or a related field.

• 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 Programsincluding 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.