PGIM Fixed Income - Analyst, Private Credit, Direct Lending- Bank Loan Servicing (Hybrid/ Ireland)
A GLOBAL LEADING ASSET MANAGER WITH A DIVERSE & INCLUSIVE CULTURE
As the Global Asset Management business of Prudential, we're always looking for ways to improve financial services. We're passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world.
We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you'll unlock a motivating and impactful career - all while growing your skills and advancing your profession at one of the world's leading global asset managers!
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If you're not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that's investing in your future by shaping tomorrow today.
At PGIM, You Can!
What you will do
The Operations team is a unit within PGIM Fixed Income responsible for the support and reporting of multiple Asset Based Finance Strategies. The Associate Manager on the Bank Loan Servicing Team is a technical role responsible for providing operational support to PGIM Fixed Income's Asset Based Financing Direct Lending Loan Business. Associate in this role will have extensive direct lending bank loan servicing related functions experience. This role will be primarily responsible for the support of all servicing activities as they relate to USD Private Credit- Direct Lending and assist where needed with any Broadly Syndicated Bank Loans. This includes data integrity, servicing, and requires frequent communication with Custodians, Agent Banks, Credit, Structured Finance, Legal, Compliance and Portfolio Management.
The Private Credit Direct Lending strategy within PGIM Fixed Income is responsible for supporting the originating, underwriting, and managing a portfolio of privately placed leveraged loans for middle market issuers. The Operations Associate hired for this role will be expected to play an integral role in continuing to grow the strategy.
What you can expect
- Join a global operations team by working with staff located in Newark, and Ireland.
- Having an extensive knowledge of Private Credit Direct Lending, and Bank Loan products and support requirements.
- Support all Servicing related activities as they relate to US Private Credit Direct Lending Bank Loans.
- Candidate will be responsible for coordinating with borrower, and Agent Bank to ensure we are in receipt of all Agent Bank notifications.
- Ability to accurately process bank loan rate resets, paydowns, amendments and other activities related to bank loan servicing.
- Ability to reconcile holdings daily between the internal record keeping systems, Aladdin, and Wall Street Office (WSO).
- Ability to reconcile holdings between our internal record keeping system, Aladdin and the Investment Accounting system, PAM for bank loan General accounts.
- Ability to review and reconcile various data points between Aladdin and Wall Street Office (WSO)
- Communicate and resolve, when possible, cash, and position reconciliation breaks.
- Candidate will interact with people in different groups and across various levels both internally and externally to resolve problems.
- Help staff to resolve problems and incorporate new processes to mitigate risks.
- Understanding industry initiatives including implementation (i.e. documentation, industry standards, etc.)
- Assuming ownership for any operational issues that are raised and providing resolution in a manner that is seamless regardless of which operational areas are impacted.
- Anticipating issues that may adversely affect the operational support of the Direct Lending Bank Loan product and take action to reduce the risk of occurrences.
- Proactively seeking ways to improve current processes by leveraging the tools available to identify inefficiencies.
- Cultivating both internal and external relationships to ensure proper service levels are achieved 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.
- Developing an understanding of the Direct Lending trading business and sharing knowledge with operations teams to increase service levels.
What you will bring
- Degree in Economics, Finance or Business preferred.
- Previous exposure to Aladdin, Wall Street Office, and S & P suites of applications is a plus.
- Previous exposure to Direct Lending and private credit funds is a plus.
- Strong knowledge of Bank Loan products. (5 yrs).
- Ability to read and interpret credit agreements.
- Strong presentation, written communication, and interpersonal skills with exposure to all levels of management
- Ability to organize, prioritize tasks and work in a deadline-oriented environment.
- Critical thinking and problem-solving experience required.
- Proven ability to develop and cultivate relationships across all staff levels.
- Strong analytical skills, problem-solving skills and careful attention to detail are crucial.
- Self-motivation and ability to work within a team environment.
- Has an entrepreneurial spirit that is willing to take on additional responsibility.
- Enjoys a fast-paced, high-intensity environment.
Dependent upon the business, flexible work schedules are necessary to provide operational coverage to our business partners from 12:00 p.m. to 9:00 p.m GMT. Possibility fully remote available for right candidate.
PGIM welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.
What we offer you
- Health Insurance: PGIM Ireland partner with Laya and BUPA to provide health insurance schemes that cover eligible employees day to day medical and hospital expenses.
- Annual Leave of 23 days at full pay.
- Pension Scheme: Members of the scheme can contribute up to 6% of salary per annum and PGIM Ireland matches contributions up to 6% of salary. Members can also make voluntary contributions to the scheme.
- Annual Bonus Programme & Shop LK Vouchers: Along with an annual bonus employees are rewarded with Shop LK vouchers which are paid tax free.
- Life Assurance: fully paid by PGIM Ireland, employees are covered from their start date and beneficiaries are provided with a lump sum of four times an employee's salary.
- Education Assistance: PGIM Ireland have an Education Assistance Programme that reimburses eligible employees for furthering their education.
About PGIM Fixed Income
PGIM Fixed Income is a global asset manager offering active solutions across all fixed income markets. With approximately 1000 employees and $821Bn assets under management, the company has offices in Newark, London, Letterkenny, Amsterdam, Munich, Zurich, Tokyo, Hong Kong, and Singapore. Our business climate is a safe inclusive environment, centered around mutual respect, intellectual honesty, transparency, and teamwork. Our leaders are focused on talent & culture; dedicated to fostering growth & development at all levels to develop the industry leaders of tomorrow.
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PGIM Ireland is proud to be an equal opportunity employer and is committed to equal employment opportunity regardless of applicants' gender, civil status, family status, sexual orientation, religion, age, disability, race or membership of the traveler community. PGIM Ireland's aim is to hire the best people for the open roles and all appointments will be made on merit.
Any offer of employment made by PGIM Ireland will be contingent on receiving satisfactory references. Applicants should be aware that background checks will be carried out on all candidates offered a position within PGIM Ireland.
PGIM Ireland has been awarded the IBEC Keep Well Accreditation Mark, this is in recognition of our commitment to making our employees wellbeing a priority.