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PGIM Private Capital - Loan Closing Specialist, Direct Lending

AT Prudential Financial
Prudential Financial

PGIM Private Capital - Loan Closing Specialist, Direct Lending

Newark, NJ

Job Classification:
Investment Management - Investment Operations

What you will do:

Our PGIM Private Capital (PPC) Trade Operations team is looking for a highly motivated individual to support PPC's Private Credit investment business. This includes support for our Direct Lending Loans. This Specialist will support our US and European deal teams as they originate, close, and fund new Direct Lending transactions and will play a key liaison role with investment teams, attorneys, banks, and agents.

You will navigate the closing and post-closing process for certain transactions and escalate issues with Europe based investment teams, banks, legal counsels, and Operations teams in the U.S. Leading and being a mentor, and resource to more junior team members is part of the role. The ability to navigate complex settlement activities with the banking community and borrowers is important.

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PGIM Private Capital is responsible for underwriting, originating, and managing a portfolio of privately placed debt and leveraged loans for middle market issuers. Annually our London, Paris, Frankfurt, Madrid, and Milan investment teams close more than 2.5 billion (USD Equivalent) in private credit transactions. In addition, globally PPC manages ~$100 billion of assets and the staff on this team will be accountable for certain cash control, and reconciliation efforts across the global portfolio.

What you can expect:

  • Provide assignment support to U.S. and European based Investment teams, attorneys, and other business partners.
  • Relationship Manager to agents involved in the transfers of private lending transactions in Europe.
  • Prepare and draft various legal documents, including but not limited to assignment documents from form (exhibit), incumbency certificates, assistant secretary certificates, and organizational charts. Understanding corporate documents, senior facilities agreement, credit agreements, note purchase agreements
  • Develop and maintain templates and forms.
  • Review and approve funding and cash movements, trade settlement and notifications while ensuring all parties understand their role, responsibility and or timing.
  • Integrate current Standard Operating Procedures with new product launches including new banks, systems and or reporting requirements.
  • Liaise with internal and external auditors and ensure documentation in in place to comply with enterprise and departmental standards.
  • Coordinate KYC with the Private Credit paralegals.
  • Support assignment team in the management of department workflow, including funding and closing, incoming requests and communications with internal and external clients, vendors, and agents.

What you will bring:

  • Bachelor's degree in law, paralegal studies, business management or similar field
  • 4+ years of experience as a paralegal or similar field
  • Experience in transferring loans between entitites
  • Experience working with loan agreements and bond math (understanding of the characteristics of bonds) and closing documentation of funding
  • Support assignment team in the management of department workflow, including funding and closing, incoming requests and communications with internal and external clients, vendors, and agents.
  • Experience in drafting/reviewing documents such as assignment agreements and transfer certificates
  • Experience with Know Your Client ("KYC") requests
  • Working knowledge of Microsoft Office Suite
  • Ability to work independently, take initiative, and multitask
  • Ability to manage tight deadlines in fast-paced environment
  • Excellent verbal and written communication skills
  • Strong attention to detail and organizational skills

What will set you apart:

  • Paralegal Certificate a plus
  • Experience in the loan market with a focus on direct lending a plus

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

  • Medical, dental, vision, life insurance and PTO (Paid Time Off)
  • Retirement plans: 401(k) plan with generous company match (up to 4%) ; Company-funded pension plan
  • Wellness Programs to help you achieve your wellbeing goals, including 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 health, and career development.
  • Tuition Assistance to help finance traditional college enrollment, approved degrees, many accredited certificate programs, and industry designations.

To find out more about our Total Reward package, see our Total Rewards Brochure.

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 $85,000-$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.

About PGIM Private Capital

At PGIM Private Capital (PPC), expertise, analysis, and experience drive everything we do. We strategically target select global markets to offer unique deal flow to investors and prospective issuers. Our team is comprised of bright, focused professionals who collaborate at all levels to manage originations and a private debt portfolio across investment grade, high yield and mezzanine investments. We invest in the potential of our employees by offering them large-scope, small-team emphasis on collaboration, and commitment to a healthy balance between a professional and personal life. We challenge you as an individual so you can make real contributions while you grow your capabilities.

A GLOBAL FIRM 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! 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!

Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law.

The Prudential Insurance Company of America, Newark, NJ and its affiliates.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.

PEOPLE WITH DISABILITIES:
If you need an accommodation to complete the application process, which may include an assessment, please email accommodations.hw@prudential.com.

Please note that the above email is solely for individuals with disabilities requesting an accommodation. If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.

Client-provided location(s): Newark, NJ, USA
Job ID: Prudential-R-118217
Employment Type: Full Time

Perks and Benefits

  • Health and Wellness

    • Dental Insurance
    • Vision Insurance
    • Life Insurance
    • Short-Term Disability
    • Long-Term Disability
    • FSA
    • FSA With Employer Contribution
    • HSA
    • HSA With Employer Contribution
    • Health Insurance
  • Parental Benefits

    • Adoption Leave
    • Birth Parent or Maternity Leave
    • Adoption Assistance Program
    • Family Support Resources
  • Vacation and Time Off

    • Paid Holidays
    • Personal/Sick Days
  • Financial and Retirement

    • 401(K)
    • 401(K) With Company Matching
    • Pension
    • Stock Purchase Program