Are you looking to grow your career within Operations and deepen your understanding of financial services products under the Asset Management umbrella? Are you looking to diversify your skill-set by expanding your quantitative skills with a growing organization? Our Fixed Income Operations team is seeking a Fund Administration Specialist which is responsible for providing operations support to the Portfolio Administration business; specifically the hedge fund platform.
Who are we?
PGIM Fixed Income is a top global fixed income asset manager with over $681 billion in assets under management. Our parent company is Prudential Financial, Inc. We are headquartered in Newark, NJ (U.S.) with affiliates in London, Tokyo and Singapore.
PGIM Fixed Income maintains a collegial and supportive work environment that promotes and rewards individual contributions while placing equal importance on results of the larger team. Associates within PGIM Fixed Income share their insights, skills, and diverse perspectives with a talented team working toward common goals. We place high priority on maintaining a work environment that develops, motivates, rewards, and retains employees. We offer a total rewards package that includes competitive pay, performance-based incentives, long-term savings opportunities, and just as important, support for life beyond work.
Our Operations team is a dynamic group that collaborates with all areas of Prudential; in turn creating a myriad of learning opportunities and a collaborative culture. Operations span all of our products and markets while we serve as an internal business partner to aid in processes and controls; as well as help improve our systems that deliver accuracy, efficiency, and the overall integrity to our business.
Specific responsibilities of the associate include but are not limited to:
Following the team’s effective control environment to ensure adherence to established accounting procedures and protocols.
Identify risk and escalate in a timely manner. Proactively identify and recommend improvements to internal and external controls and processes.
Review of Monthly NAV Calculations produced by an external Fund Administrator including performance fees and capital accounts where applicable and expense and budget reviews
Hands on shadow accounting and oversight of Administrator NAV with analysis at the instrument level to ensure internally maintained records align with the Administrator and Prime Broker’s activities.
Meeting client reporting needs and responding to ad-hoc requirements
Build strong relationships with all Business Operations and PGIM Fixed Income teams as needed, including but not limited to Finance, Compliance, Legal, Client Advisory Group, Information Technology, Sales & Marketing, Risk Management, Pricing, and Trade Operations to effectively deliver on the business’s evolving data and accounting needs on an ad hoc and recurring basis.
Participate in the review of financial statements. Work with the Fund Administrator and external auditors for the audit process to ensure accurate and timely delivery of audited financial statements.
Manage the expenses payment to third party vendors
Participate in projects such as fund launches, closures, mergers or regulatory change, contributing from an accounting and records perspective and working closely with other groups to deliver these projects cleanly.
Managing the Service Provider relationships (Prime Brokers & Administrators) to ensure robust and effective delivery on all aspects of the product
Review of KPIs and attendance at periodic service review group meetings
Assist with annual health checks on service providers and identify and process or control issues.
Must be able to work independently, and as part of a team both within the Portfolio Administration team and across functions. The position requires the ability to handle multiple tasks, meet reporting deadlines and flexibility.
The employee must also possess accounting and analytical skills and be capable of leveraging technology effectively.
BlackRock Solutions Aladdin experience is highly desired.
Must have strong interpersonal and communication skills and the ability to manage service providers to high standards.
Demonstrable experience for supporting multi-currency Fixed Income and Derivatives instruments required.
Attention to detail is a key requirement of the role and the ability to identify risk and escalate appropriately.
The associate should have a history of performing hedge fund administration and including the processes which contribute to supporting NAV and detailed fees calculation models.
An Accounting qualification such as CPA, ACCA, or CIMA is preferred
A minimum of 3 years of Fund Accounting experience in the alternatives products sector is highly desirable.
© 2018. Prudential Financial, Inc. Prudential is an equal opportunity employer (disability/veterans). EEO is the law.