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Form of workJob Classification:
Investment Management - Investments
A GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE
Our Vision:
At PGIM, we believe talent is key to achieving our vision. 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!
What you will do:
Reporting to the Head of Portfolio Analytics, the Associate, Portfolio Analytics will assume key responsibilities in building out a state-of-the-art quant platform supporting multi-asset portfolio optimization, real-world economic simulation, and risk/capital analytics. They will be getting in at the ground floor of this emerging business area and have a formative role in developing the models and strategic analysis needed to drive it forward.
This role is based in our office in Newark, NJ. Our organization follows a hybrid work structure (3 days in office and 2 days remote) where employees can work remotely and/ from the office, as needed, based on demands of specific tasks or personal work preferences. Working from the office is encouraged when working on tasks that require a high degree of collaboration.
What you can expect:
- Help build, test, and enhance models for economic scenario generation, ALM simulation, and portfolio optimization
- Explain model results in terms of economic drivers, portfolio characteristics, and modeling assumptions
- Design infrastructure to organize market, economic, and portfolio data, feed it into models, and analyze model outputs to inform asset allocation and quantify key risks.
- Design systems for attributing portfolio returns in terms of economic risk factors and security characteristics
- Construct and simulate derivative-based hedging strategies
- Analyze the impact of different capital regimes on asset allocation strategies
- Explore applicability of modern data science methods to real-world investment analysis
- Collaborate with colleagues across PGIM and Prudential to acquire proprietary data and learn about different modeling approaches that will help to grow our platform
What you will bring:
- Master's in quantitative finance (or comparable academic experience in math, physics, etc.) and/or up to 3 years' experience in a quant role within banking, asset management, or insurance.
- Solid programming background, with a Python emphasis (pandas, numpy, etc.)
- Reliable knowledge of core quant finance topics: probability theory, statistics, stochastic models, options theory, yield curve construction, fixed income analytics, CAPM, etc.-both at the technical level but also conceptually, in terms of basic financial intuitions accessible to non-quants.
- Experience in coding models for instrument pricing and simulation is desirable-bonds, structured credit, equities, alternatives, and derivatives as well as liabilities like life insurance and annuity contracts
What will set you apart:
- Creativity, intellectual curiosity, and the ability to break down quantitative ideas for non-quant audiences
- Entrepreneurial appetite and mindset for a growth business venture
*PGIM welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.
AT PGIM, YOU CAN
We're passionate about making a meaningful impact on the world, touching the lives of millions and doing things the right way.
As the global asset management business of Prudential, we're always looking for ways to improve financial services, working with purpose in an open, friendly, and positive culture.
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.
Turn big ideas into reality!
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, visit Work Life Balance | Prudential Careers
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 $120,000 to $160,000. 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. In addition, employees are eligible for standard benefits package including paid time off, medical, dental and retirement.
About PGIM Portfolio Advisory Group
PGIM Portfolio Advisory (PPA) is a newly established business within PGIM responsible for providing institutional clients asset-liability management and multi-asset class solutions, with liability driven and insurance expertise. On behalf of its clients, PPA will oversee portfolio construction and management, and will partner with PGIM affiliates including Fixed Income, Private Capital, Real Estate and Quantitative Solutions to deliver best in class origination, trading, research, and risk management capabilities across a full range of asset classes.
About PGIM - Global Asset Management
PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), a leading global investment manager with nearly US$1.2 trillion in assets under management as of 30th December,2022. With offices in 18 countries, PGIM's businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives.
With a history dating back almost 145 years, and experience through more than 30 market cycles, PGIM takes a long-term view, not only in our investment philosophy, but also in how we develop our talent. We want to see our employees excel from their first day with the firm and throughout their tenure with PGIM. We will inspire you, support you, and help you reach your greatest personal and professional aspirations. If PGIM sounds like the place for you, join us. For more information about PGIM, visit PGIM.com.
Our Commitment to Diversity, Equity, and Inclusion
Prudential Financial, Inc. is focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don't just accept difference-we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career, and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential.
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.
