Investment Operations Associate
Location:
Newark , New Jersey
Posted:
November 17, 2017
Reference:
7965662

Prudential Global Funding provides a wide array of services and support to various business lines across the organization.  Our focal point has always been, and continues to be, to provide unsurpassed risk management analysis and support to Global Trading.  “Risk Management is more than just a tool used to quantify and measure risk.  It is a utilization of extensive proofs and controls, processes and analysis, all working in unison to help attain organizational goals.”

 

PGF Operations provides derivative trade support and back office operations for the Derivatives Product Group (Prudential Global Funding), as well as a number of affiliates.  Primary support functions include ensuring the accurate maintenance of trade records for all OTC derivatives within the firm (for Prudential businesses only - excludes 3rd party managed and retail funds, non-guaranteed separate accounts), as well as certain exchange traded instruments from inception through maturity, confirmation and processing of payments related to derivatives activity, maintaining market data for purposes of trade valuations, management of collateral related to derivatives positions, and preparation of daily risk reports for management.  Secondary functions include the processing of non-USD payments and foreign exchange conversions for certain domestic businesses. 

 

The associate will be responsible for some of the processes described below:

 

The Cash Desk functions as the central point for all incoming or outgoing wire transfers for Prudential Global Funding. Some of the more critical functions associated with the Cash Desk include the daily bank reconciliation, cash projections and the processing of all US dollar and foreign denominated wires.  Responsibilities may also include the daily preparation and processing of all interest rate swap payments, as well as any FX conversions and payments for both PGF and the Enterprise.

 

PGF Operations is responsible for uploading and maintaining all of the market data needed for the pricing and valuation of derivatives.  Examples of this include setting the rates on all swaps, caps, floors and collars and ensuring the upload of the USD, FX, volatility and spread curves into the Summit system.

 

PGF is responsible for the daily monitoring of counterparty exposure to support the collateral service agreement (CSA) and initial margin requirements for cleared OTC and bilateral OTC derivatives.  In addition to monitoring and reporting the exposure, responsibilities include responding to and instructing upon daily collateral calls.  This includes substitutions, researching any disputed items, performing reconciliations of portfolios when disputes occur and managing the principal and interest processing of collateral posted and held.

 

Additional job responsibilities may include:

  • Maintenance of new trades and performing deal verification to ensure the accuracy of  the trade details in the derivative system
  • Resolution of fails for all settlements
  • Research and resolve trade discrepancies
  • Responding to ad-hoc requests.

 

All of the desks within PGF require an individual who has strong analytical skills, is able to research and resolve outstanding items independently, works well in a team environment, completes one’s responsibilities in a timely and accurate manner and who exhibits good interpersonal skills.  Aside from the daily responsibilities, the individual is also expected to work on various assigned projects and become more actively involved in the development and implementation of value added initiatives.  Not only will such projects challenge the individual and broaden their scope of knowledge, but also benefit the group by streamlining and/or creating efficiencies to current work processes.


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