PGIM O&I, Investment Operations Specialist(Newark, NJ/or Tampa, FL-Hybrid)

Job Classification:

PGIM, the global investment management businesses of Prudential Financial Inc., is one of the world’s leading money managers. With offices in 15 countries and over $1.5 trillion in assets under management, clients rely on our risk management expertise, intellectual capital and creative solutions to realize their investment objectives. Our distinct multi-manager model delivers a broad suite of actively managed solutions in the areas of public and private fixed income, equities, alternatives and real estate to serve our clients’ needs. We are passionate about delivering investment returns for our clients and dedicated to our greatest asset – our people. Learn more about who we are and how we can work together, please visit: [Register to View]

Our Function:

PGIM Operations and Innovation drives digital transformation, modern data analytics, and operational excellence across PGIM in partnership with our business and corporate functions. We are aligned into seven verticals to drive innovative solutions and deliver operational services that contribute to PGIM being a world-class investment manager. Our workstreams operate in a collaborative, agile manner and foster a strong community focused on most relevant emerging technologies and best-in-class solutions.

PGIM Plan Accounting and Investment Operations:

Depending on your experience and interest, your role could include responsibilities in the following areas.:

PGIM Plan Accounting is an integral component in the support of PGIM, Retirement and the Group Insurance businesses and their clients’ investments in separate accounts and trust vehicles. The Investment Operations Specialist position provides an opportunity for cultivation of leadership skills. Positions in Plan Accounting provide the opportunity to gain broad business knowledge by way of consistent exposure to a wide network of business partners. These include corporate and business functions such as Finance, Operations and Systems, Risk Management, Compliance, Audit, Product Development, Client Relationship Management and Actuarial Services as well as external banks and financial companies.

• Client Reporting: Production of client level commingled asset and investment reports; Client service support; 5500 and Schedule C regulatory reporting; Client performance; Audit support

• Financial Accounting and Analysis: Calculation of investment management and other fees; Invoicing and collection of fees; Accounting entries and revenue collection; AUM reporting; Audit support; Transaction processing including client contributions, withdrawals, and bank account monitoring; Accounting entries; Cash & ledger reconciliations; Client set up

• Fund and Investor Services: Support of new fund development and set up; Oversee fund and client launch projects; Bank and vendor oversight; Regulatory reporting; Retirement Pooled Financial Statements; Audit Support; Asset Manager relationship management and cashflow forecasting; Client order processing including exchanges and withdrawals; NSCC trading

• Fund Valuation and Performance: Calculation of fund level pricing/unit values; Fund level performance reporting; Support of new fund development and set up; Transfer agency including asset to liability reconciliations and investor share ownership; Retirement Pooled Financial Statements; Single Client reporting; Audit support

Your Impact:

• Supporting, monitoring and calculating unit values for the investments we support

• Transfer agency services including asset to liability reconciliations and investor share ownership

• Production of client level commingled asset and investment reports, 5500/Schedule C and regulatory reporting

• Calculation, invoicing, and collection of fees related to Investment management services and administration

• Transaction processing including client contributions, withdrawals, and bank account monitoring

• ORACLE accounting entries and ledger revenue reconciliations

• Asset Manager relationship management and cashflow forecasting

• Client order processing including exchanges and withdrawals; NSCC trading

• Support of new fund development, set ups and closings

• Bank Oversight and Related Reconciliation/Reporting Functions

• Portfolio and Client level transition events (ie. securities in-kind transfers, manager replacements, etc)

• External and Internal audit review and support; Client service support

• Participate in various analysis and special projects

PGIM Investment Operations provides recordkeeping, accounting, and reporting for the investment portfolios supporting the Insurance Companies. Additionally, we support all investment data for the Chief Investment Officer and the Chief Risk officer for Prudential.

• Accounting: Validation of portfolio and transaction level activity including trades, income payments, corporate actions and deal restructurings in sub-ledger systems; Preparing and verifying general ledger entries; Completing reconciliations to custody banks, trade systems and financial statements; Providing various reports to business partners

• Data Quality Group: Oversight of portfolio and security level financial data quality in the investment risk data warehouse, accounting system, investment forecast model and reporting databases; Submission and verification of adjustments to financial data; Performing reconciliations and data analysis; Resolving inquiries; Supporting projects

• Reporting: Supporting business partners by preparing, analyzing, and distributing limit monitoring, activity and holdings reports on a daily, weekly, monthly, quarterly, and annual basis sourced from ledger as well as various internal data warehouses; Preparation of monthly, quarterly, and annual Statutory and GAAP reporting

Your Impact:

• Preparing General Ledger entries on a monthly basis (when needed) for Stat Market Value adjustments.

• Preparing monthly reconciliations for Asset and Income accounts.

• Preparing monthly, quarterly, and annual Pricing, Tax and STAT reporting workflows:

• Researching issues related to accounting entries and the subledger Investment system.

• Documenting procedures for any new reporting requirements.

• Completing various ad-hoc requests that are received from internal clients.

• Gathering information for both internal and external audits.

• Supporting, monitoring, and calculating unit values for the investments we support

• Transfer agency services including asset to liability reconciliations and investor share ownership

• Production of client level commingled asset and investment reports, 5500/Schedule C and regulatory reporting

• Calculation, invoicing, and collection of fees related to Investment management services and administration

• Transaction processing including client contributions, withdrawals, and bank account monitoring

• ORACLE accounting entries and ledger revenue reconciliations

• Asset Manager relationship management and cashflow forecasting

• Client order processing including exchanges and withdrawals; NSCC trading

• Support of new fund development, set ups and closings

• Bank Oversight and Related Reconciliation/Reporting Functions

• Portfolio and Client level transition events (ie. securities in-kind transfers, manager replacements, etc)

• External and Internal audit review and support; Client service support

• Participate in various analysis and special projects

Your Desired Skills:

• Candidates must possess a bachelor’s degree ; preferred majors include Accounting, Economics, Finance or Business

• 3-6 years of prior experience in Investment Operations,

• Experience with Statutory and GAAP accounting preferred

• Prior experience in accounting/investment operations

• Strong written, oral communication, and interpersonal skills

• Advanced proficiency with Microsoft Excel and Word

• Proficient oral and written communication skills

• Excel at managing a team or working independently

Note: Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $75,000 to $90,000. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. Roles may also be eligible for additional compensation and/or benefits. Eligibility to participate in a discretionary annual incentive program is subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance. In addition, employees are eligible for standard benefits package including paid time off, medical, dental and retirement.

Our Culture:

Prudential is focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don’t just accept difference—we celebrate it, support it, and thrive on it. At Prudential employees have a unique opportunity to build their career path by owning their development, their career and their future. We encourage employees to utilize the internal “Skills Accelerator” to hone their skills and explore the opportunities available to them within Prudential.