PGIM: 2022 Investment Operations Associate (Grad Date: May 2022)
We review applications on a rolling basis, and we encourage you to apply as soon as you are ready. Our goal is to notify you of your status within 3 weeks after each application period concludes.
- Period 1: July 15, 2021 to September 1, 2021
- Period 2: September 1, 2021 to October 1, 2021
- Period 3: October 1, 2021 to November 1, 2021
All applications should be fully completed by November 1, 2021
To ensure you are considered for the opportunities you want most, you are only able to apply to 3 positions per recruiting season. All applications must be submitted within one sitting.
Are you looking for a career that helps you apply your love of data, financial analysis, and investments to facilitate business strategy and work with diverse teams on challenging projects? Are you passionate about being a part of an exciting team that is focused on developing technical and professional skills while collaborating alongside leaders in the asset management community? If you are results driven, have a real passion for working with financial data, are deeply analytical and highly creative, then PGIM’s Investment Operations Associate role is for you!
PGIM is the diversified asset management business of Prudential Financial, Inc. (NYSE: PRU). With $1.4 trillion in assets under management, and 38 offices spanning 16 countries, PGIM is among the world’s top-10 largest asset managers. Comprised of seven self-governing asset management divisions, each PGIM business offers a distinct workplace culture that aligns with the firm’s ultimate objective: to provide premier service to our clients while fostering an inclusive workplace culture that is rooted in trust, respect and equality. Prudential is a Fully Inclusive Workplace: At Prudential, we value the unique perspectives and experiences of every individual, and we work hard ensure to Prudential is a welcoming and rewarding place to work for people of all identities and backgrounds.
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.
Your Day to Day:
You will be empowered to contribute in a meaningful way, add new value to organization initiatives and effect change. Within PGIM Operations and Innovation, associates can be placed into one of two business areas (PGIM Plan Accounting or PGIM Investment Operations) which are both detailed below:
PGIM Plan Accounting (Location: Newark, NJ)
PGIM’s Plan Accounting is a shared service organization supporting the PGIM, Prudential Retirement and Group Insurance businesses and their clients’ investments in separate accounts and trust vehicles.
- 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
PGIM Investment Operations (Location: Newark, NJ)
PGIM’s 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 Desired Skills:
- Candidates must be enrolled in an accredited bachelor’s program graduating May 2022
- Preferred majors include Accounting, Economics, Finance or Business. Minimum 2.8 GPA required
- Prudential does not provide visa sponsorship for this position. Successful candidates must possess the requisite US employment authorization to be eligible for consideration
- Strong written, oral communication, and interpersonal skills
- Advanced proficiency with Microsoft Excel and Word
Our Application Process:
1. Submit your application.
2. Receive invitation for first-round digital interviews – Part one includes telling us about yourself via a digital introduction. Part two includes answering pre-recorded interview questions with the business(es) that are advancing your applications(s).
3. Last step, final round interviews– If selected, you will have the opportunity to meet with us in person or virtually to learn more about our business and culture.
For 2022 early talent roles, our process is designed to help you learn more about Prudential and share your story with us. Digital interviewing allows greater flexibility, enables a quicker interview process, allows us to meet more candidates and share your story with more members of your team.
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 email@example.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 call (800) 433-8960, prompt 4 or email firstname.lastname@example.org.
Please note that the above number and email are solely for individuals with disabilities requesting an accommodation. If you are experiencing a technical issue with your application or an assessment, please email email@example.com to request assistance.