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Senior Analyst, Collateral Management and Servicing
Prudential Securities
Newark, NJ, United States
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Description
PGIM Fixed Income is a global asset manager offering active solutions across all fixed income markets. As of December 31, 2018, the firm has $743 billion of assets under management including $312 billion in institutional assets, $132 billion in retail assets, and $299 billion in proprietary assets. Over 600 institutional asset owners have entrusted PGIM Fixed Income with their assets.
The Collateral Management and Servicing Analyst is responsible for providing collateral management operational support to the PGIM Fixed Income business for Swaps, Futures, FX, Options, Repo and MBS. Responsibilities include monitoring counterparty exposure and collateral, supporting initial margin requirements, performing position reconciliations, as well as maintaining open dialogue with internal Operations teams (ex: Product Support, Confirmations, CODI), as well as Portfolio Managers, client relations representatives, and counterparties.
Job responsibilities:
• Reconciliation of trade details against executing and/or clearing counterparty
• Daily reconciliation and instruction of variation margin
• Daily monitoring of counterparty exposure, and resulting collateralization in accordance with our executed trading agreements (ISDA/CSA, GMRA/MRA, MSFTA, CDEA)
• Verify, place/respond, and instruct upon daily collateral margin calls, including substitutions and resolution of disputed items.
• Fails resolution for all settlements (i.e. Collateral moves, interest, swap payments, variation margin)
• Performing monthly collateral reconciliations against counterparties/banks to internal systems.
• Verifying/validating periodic payments related to derivative products (i.e. swaps)
• Assuming ownership for any operational issues that are raised and providing resolution in a manner that is seamless regardless of which operational issues are impacted.
• Anticipating issues that may adversely affect the operational support of all derivative products and acting to reduce the risk of such occurrences.
• Proactively seeking ways to improve current processes by leveraging the tools available.
• Cultivating both internal and external relationships to ensure proper service levels are achieved and maintained 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.
• Develop an understanding of the fixed income trading business and share knowledge with operations teams to increase service levels.
Qualifications
• Degree in Economics, Finance or Business preferred.
• Strong knowledge of interest rate and credit derivatives (swaps, options, futures) and/or other fixed income products.
• 4+ years of fixed income capital markets operations experience.