PGIM Fixed Income: Principal, ABF Research
1 month ago
Job Classification:
Investment Management - Portfolio ResearchA 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
What you will do
A research position as a Principal within the public and private Securitized Products group of PGIM Fixed Income ($118bn assets under management). The successful candidate will work closely with the team’s senior associates to help evaluate bespoke U.S. and global transactions across the consumer, esoteric and/or commercial ABF/ABS sectors and conduct ongoing research activities in these sectors. The successful candidate will be responsible for reviewing transaction documentation packages, developing and maintaining issuer and complementary creditor partnerships, conducting issuer due diligence as necessary, communicating with investment banking teams, working closely with portfolio management, in-house counsel, and other internal colleagues to determine investment suitability and relative attractiveness, presenting to clients and conducting surveillance on existing investments and industry trends.
What you can expect
Underwriting new issue and secondary investment opportunities within the consumer, esoteric and/or commercial ABF / ABS markets
Negotiating document terms with issuers, sponsors and other transaction parties
Analyzing collateral to develop modelling assumptions
Determining proprietary credit ratings
Performing an ESG review of the issuer and transaction parties and assign a proprietary ESG Impact score
Presenting results from transaction-specific and sector-wide analyses to wider internal and external audiences, including portfolio managers and clients
Maintaining views on industry-wide issues that impact originators, broker/dealers & investors. Responsibilities may include monitoring U.S. and global regulatory changes, accounting and capital requirement changes, federal, state, and global lending laws, and any legal precedents.
Undertaking the ongoing monitoring and analysis of portfolio positions to assess credit risk, credit ratings stability, cash flow volatility, portfolio positioning and trading opportunities
What you will bring
Minimum 10 years’ experience in consumer, esoteric and/or commercial ABF / ABS
Prior experience in analyzing consumer, esoteric and/or commercial ABF / ABS transactions in a buy side or sell side research role
Demonstrated ability to prioritize and delegate tasks to accomplish key team priorities
Prior experience generating collateral performance assumptions, evaluating credit risk and negotiating deal terms
Robust knowledge of the ABF /ABS issuers, intermediaries, and investors
Solid understanding of U.S. and European securitization structures, legal foundations, and legal transaction documents
Demonstrated ability to source, underwrite, document and monitor transactions
Excellent attention to detail and the ability to work independently while contributing to the overall team culture
Strong verbal and written communication skills
*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%) and 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.
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