PGIM Fixed Income - Manager of Trade Management Operations, Trade Support Group
Job Code: 397738
Job Location: New Jersey-Newark
Are you looking to grow your career within operations and deepen your understanding of financial services products under the Asset Management umbrella? Are you looking to diversify your skill-set by expanding your quantitative skills with a growing organization? Our Fixed Income Operations team is seeking a Manager, Trade Operations which is responsible for providing operations support to the Trade Support business. The Trade Management organization within the Operations and Systems department provides operational support and risk mitigation to the PGIM business by managing all aspects of the trade confirmation, instruction, and settlement functions.
Who are we?
PGIM Fixed Income is a top global fixed income asset manager with over $681 billion in assets under management. Our parent company is Prudential Financial, Inc. We are headquartered in Newark, NJ (U.S.) with affiliates in London, Tokyo and Singapore.
PGIM Fixed Income maintains a collegial and supportive work environment that promotes and rewards individual contributions while placing equal importance on results of the larger team. Associates within PGIM Fixed Income share their insights, skills, and diverse perspectives with a talented team working toward common goals. We place high priority on maintaining a work environment that develops, motivates, rewards, and retains employees. We offer a total rewards package that includes competitive pay, performance-based incentives, long-term savings opportunities, and just as important, support for life beyond work.
Our Operations team is a dynamic group that collaborates with all areas of Prudential; in turn creating a myriad of learning opportunities and a collaborative culture. Operations span all of our products and markets while we serve as an internal business partner to aid in processes and controls; as well as help improve our systems that deliver accuracy, efficiency, and the overall integrity to our business.
Managers within Trade Management are responsible for leading a team that is responsible overseeing the orderly confirmation and for government, corporate, and municipal bonds, emerging market, global debt, and short-term taxable debt, and foreign exchange transactions.
- Managers should be knowledgeable of asset types supported within the functional area and have a thorough understanding of the confirmation and settlement mechanics applied to each within the financial market. Knowledge of domestic and global practices is emphasized within this role.
- Be able to assists the functional head in policy making, personnel related matters, and acts as primary contact with external organizations.
- Will have contact with trade/industry associations or regulatory bodies through committee involvement. Partnering with peers in other organizations and with trade/industry associates through industry training and sub-committees
- Keep abreast of new technologies and applications and their implications for assigned area.
- Establish and ensures compliance with policies and procedures for activities within their group.
- In conjunction with more senior management, develops, recommends and executes business plans for area of responsibility. Drives change and implements strategies to improve current process.
- Responsible for the development and training of subordinate managers and supervisors.
Responsibilities of Manager include:
- Manage issues resolution with dealers for trades pending confirmation / settlement and work with custodians to report outstanding trade fails
- Oversee updates in system for all standing settlement instructions
- Manage the transfer of new client assets onto the Fixed Income platform
- Maintain and review procedures with business unit outlining critical functions
- Review trade corrections and work with investment professionals to ensure timely updates
- Manage or support projects as needed
- Analyze metrics and key indicators; assess impact of industry trends on unit
- Partner with various areas (Account Management, Trade Support, Portfolio Administration) to provide support for client on-boarding
- Perform daily checks to control operational risk
- A BA/BS preferred, and or at least 5 years of experience in the financial industry supporting the settlement of securities with at least 2 years of supervisory experience. Comprehensive knowledge of fixed income investment products, investment strategies, and operational support requirements.
- Knowledge of global settlement preferred.
- Strong diagnostic, analytical and problem solving skills; displays “out of the box” thinking. Ability to identify and communicate complex issues
- Challenge established processes; leverage technology
- Makes decisions that are in the best interest of the company
- Courage to raise issues and ability to work with management on problem resolution
- Demonstrates a strong commitment to professional ethics and environment
- Demonstrated leadership skills – leads by example; is a role model and change agent
- Convey consistent management message to staff via staff meetings or other vehicle
- Ability to motivate and inspire
- Enthusiastic and flexible
Drive for Results
- Develop and manage to metrics for managed group; able to identify trends, determine root cause of deviations and resolve; continuously monitor the impact of key decisions on the operating risks of the area (i.e. feedback loops, use of metrics).
- Works well under pressure and meets scheduled deliverable dates
- Strong diagnostic, analytical and problem solving skills
- Detail Oriented
- Is innovative in problem resolution and in building unit strength and efficiency
- Demonstrates sound decision making skills
- Strives to learn best business practices in the marketplace and implement in managed group i.e., Representative on at least one industry committee
- Expand knowledge beyond operations
- Advanced knowledge of securities industry and operations
- Supports peers and collaborates with others across business
- Strong business partner with portfolio management, operations, accounting, client services and reporting
Building Organizational Capability
- Encourage learning within group; identify areas of personal development; seek out training
- Able to coach and provide timely, actionable feedback based on performance expectations; conduct one-on-ones
- Excellent organization, communication and time management skills
- Customer Focused; understands who customer is and is an advocate for the customer
- Ability to influence others to accomplish objectives
- Recognizes and balances interests and needs of own unit with broader organization
Additional Skills (Business Knowledge)
- Knowledge of international settlement practices a plus
- Identify and manage business risk for department
- Expert understanding of the fixed income trading, operational systems, and workflows
- Manage adherence to company policies such as overtime, timeliness, attendance, etc. for department
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, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.
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.
Job Function: Operations