POR000D- Lead Analyst

Location: Newark

The position is for a Lead Analyst, Risk Management to support Prudential Mortgage Capital Company, LLC (PMCC), the commercial mortgage lending unit of Prudential's Asset Management Business.  PMCC's Risk Management team supports the strategic objectives of the business by helping to maintain an effective and efficient risk management program. 

There is the opportunity for this position to be worked from other PMCC offices in the US.

The incumbent will be responsible for managing PMCC's enterprise-wide risk management priorities, including, but not limited to, workflow mapping, procedural development and documentation.  This position reports directly to the Vice President, PMCC Risk Management. The associate holding this position will:

• Support business processes by reviewing, monitoring, and assessing the control environment for new and established products and activities
• Work with the VP Risk Management and business management to proactively identify and evaluate operational business risks and trends, and develop processes that help mitigate risk, ensure compliance, and protect PMCC's brand
• Actively assist management with review and analysis of new initiatives (including complex structured products) and projects, the development and implementation of appropriate control standards, and provide project management support
• Monitor, analyze and communicate emerging risks and trends
• Manage all aspects of the audit process, including conducting pre-self assessment, planning, coordinating action plan development and execution
• Lead PMCC's Sarbanes-Oxley efforts and related reviews.  Communicate results and analysis to senior management and key internal stakeholders
• Oversee  the monitoring of HUD, Ginnie Mae, Fannie Mae, and Freddie Mac regulations in an effort to identify and communicate rule changes
• Oversee the maintenance of the relevant state license requirements for PMCC as well as HUD, FHA, Ginnie Mae, Fannie Mae and Freddie Mac approvals and licenses.  
• Coordinate the vendor governance process for PMCC.  Participate in the contract review with the business and legal team, conduct risk assessments, risk rank the vendor, conduct site visits, as necessary, etc.
• Conduct periodic internal control reviews focused on identified high risk items.
• Assist the VP PMCC Risk Management with training on Prudential's Principles and Policies;
• Establish and maintain relationships with Asset Management and PMCC's  Business and Functional Leaders, as well as the larger Risk Management community, Internal Audit, Legal, Compliance, Operations, and Finance staff
• Lead, or participate on, PMCC-wide initiatives or projects as applicable.

Qualifications:

• Five to seven years experience with institutional asset management business.  Real estate investment and/or Agency experience is preferred. 
• Experience with operational process and internal control design
• Audit, Finance, and/or Real Estate Investment background
• Working knowledge of Sarbanes-Oxley
• Project management experience
• Strong analytical skills
• Ability to work independently
• Attention to detail, yet able to summarize and communicate complex issues effectively, orally and in writing

Travel approximately 25% of time to the other PMCC offices

COR0002P - Director, Treasury

Location: Newark

The Bank Administration, Cash Management and Capital Market's Units are part of the Corporate Banking Division of the Treasurer's Department.  Bank Administration is responsible for managing the wholesale bank administration activities for the firm including bank account openings, closings, maintenance and compensation. Cash Management is responsible for managing the firm's short term liquidity including preparing short term cash investment calculations based on forecasts and historical trends, concentrating funds for investment, reconciling forecast to actual and analyzing variances, preparing short term cashflow reports, and acting as liaison between banks and business units.  The Capital Market's Unit supports all debt settlement activities including the following:  loan processing, settlement of principle and interest payments, agreement execution, ensuring the debt is calculated and recorded appropriately, and debt reporting.

The person in this position is responsible for leading the Bank Administration, Cash Management and Capital Markets Units. 

The primary job responsibilities for this position include:

• Understanding total daily cash positions and CP outstandings
• Overseeing investment related decisions 
• Ensuring that daily cash actual to forecasted activity is reconciled
• Ensuring all daily borrowing needs and actuals are reconciled appropriately
• Delivering and discussing business variance analysis reports
• Ensuring that all required reports are delivered accurately and on-time
• Providing consulting to various business units of Prudential to improve processing flows, forecasting and investment related activity. 
• Understanding business requirements and how they apply to existing banking infrastructures.
• Supporting business unit requests for bank account maintenance including, but not limited to, bank account openings, closings and changes associated with the account. 
• Managing the bank compensation and bank servicing activities of the firm including paying bank fees and creation and distribution of bank scorecards and service meeting coordination
• Acting as a liaison between financial institutions (banks) and business units within Prudential to effect required changes as requested
• Building relationships with business partners, asset management back office and banks
• Communicating with banks and various Prudential business units to investigate and resolve issues
• Overseeing the wire transfer function to ensure accuracy and controls
• Monitoring all valid statistics for each function and report to management
• Ensuring procedure and workflow documentation is continuously kept current
• Conducting and documenting financial analysis projects/reports.
• Supporting independent and group projects related to banking and cash management initiatives

Qualifications:

• Bachelors Degree in Finance, Accounting, Economics, or Business Administration
• 5 years work experience with Prudential's cash process OR  relevant cash management / commercial banking experiences
• 2-4 years of management experience
• CCM/CTP Preferred
• Excellent oral and written communication skills to effectively address processing issues and work with business partners and outside service providers
• Ability to conduct analysis (analysis of business unit activities i.e. trending and identification of cyclical patterns, variance analysis, investment option returns vs. cost, cost benefit analysis, etc.)
• Solid organizational skills and the ability to manage multiple tasks to maintain an efficient processing flow
• Good problem solving and decision making skills to respond to inquiries and processing issues
• Ability to apply sound business principles and practices to projects (judgment)
• Strong interpersonal skills to support team relationship within Treasurer's and with business partners and service providers
• The flexibility to assume other area assignments in the future as the staff is periodically rotated
• Ability to work well under pressure and meet tight deadlines in a team environment
• PC and spreadsheet experience preferred (MS Office including Excel, Word and Access)
• Self-directed; must be comfortable with establishing objectives, then working independently to achieve them

Must be capable of effectively representing Prudential at corporate, client, and industry functions

Director of Financial Analysis- ALM0001D

Location: Newark

The Enterprise Valuation Group (EVG) within Asset & Liability Management (ALM) Finance is responsible for establishing and implementing valuation policies, validating valuation practices and processes, and reporting on valuation of non-actuarial financial instruments (assets and liabilities) owned and/or managed by Prudential and its affiliates.

The EVG team includes individual with skills and qualifications ranging from accounting policy, financial reporting and procedures development to quantitative modeling of complex financial instruments.

The Director, Valuation and Reporting is responsible for:

• Monitoring emerging valuation related GAAP/IFRS/Statutory/SEC reporting requirements and serving as the subject matter expert for existing pronouncements
• Developing position and company-wide policies and guidelines to comply with valuation reporting requirements
• Assisting business units in developing valuation procedures to comply with the Valuation Policy and Standards
• Ensuring compliance with valuation related external reporting requirements (in 10K/10Q)        
• Supporting development of company-wide Valuation Policy and Guidelines
• Implementing company-wide Valuation Review Procedures
• Performing month-end and Quarter-end valuation reviews
• Producing regular management reports on valuation
• Performing other ad hoc valuation analysis to support financial reporting and management decision making

Qualifications:

• Undergraduate degree in Accounting, Finance or Economics
• Strong financial reporting experience is required
• 7+ years of experience in financial reporting in a public company setting is strongly preferred (financial industry experience strongly preferred)
• Working knowledge of financial security valuation principles and practices
• Experience managing staff and working across multiple teams/business units
• Strong analytical and verbal/written communication skills
• Working knowledge of Excel and Oracle
• Auditing or consulting experience with a public accounting firm is a plus
• CPA, CFA or MBA preferred

VP of Actuary- Ret0003A

Location: Newark

The Vice President, P&SS Pricing, reports to the Vice President & Business Financial Officer, Pension & Structured Solutions.  The successful candidate will lead the combined Pricing and Financial Modeling teams for Prudential's UK and US Pension Risk Transfer and Structured Settlements businesses, comprised of 16 - 18 professionals. The primary responsibilities of the position are:

• Provide overall leadership for P&SS pricing organization
• Establish pricing methodologies and targets; ensure compliance with enterprise pricing standards.
• In partnership with business and pricing leaders, determine and test optimal pricing strategies to balance competitiveness, growth and profitability
• Work closely with business leadership on new product development initiatives
• Pricing & Financial Modeling methodology, tools, and analytics
• Develop and refine pricing, modeling, and capital methodology and financial frameworks for new and existing products
• Coordinate the development of robust, integrated pricing & modeling platform for P&SS businesses.
• Develop models, tools, processes and metrics to facilitate effective decision making
• Provide timely, accurate, and insightful pricing analytics New Business Pricing
• Provide timely and accurate pricing of PRT buy-in and buy-out bids to enable confident decision-making and achieve sales & profit targets.
• Provide timely and accurate pricing for Structured Settlement rate books, daily rates, and special quotes, to enable achievement of sales and profit target.
• Jumbo PRT (UK & US) Deal Pricing and Structuring
• Lead financial assessment and input into structuring of Jumbo PRT transactions; enable corporate approvals to ensure we win the right business.
• Play strong leadership role in seeking necessary approvals from Prudential corporate governance providers
• Support jumbo prospect, intermediary, and counterparty engagement and negotiation.  Inforce Financial Assessment and management
• Assess the existing book of business and develop recommendations to enhance value to the enterprise.
• Develop and implement tools and strategies to improve inforce financial management by optimizing portfolio yields, capital, and risk profile.  Analyze portfolio and derivative strategies and risk/return trade-offs and provide recommendations
• Team leadership & management
• Lead overall team of 16-18 associates, including two vice presidents.
• Attract, align, develop and retain top talent to deliver on team goals and objectives
• Establish team vision and leadership climate to maximize and sustain the team's contribution to financial results.
• Continuously review team capabilities and deployment vs. business needs and make adjustments as necessary to ensure strong support and value add to customers
• Contribute to overall finance & P&SS leadership climate

Qualifications:

• Excellent presentation and communication skills; ability to communicate results and influence at senior management level
• Ability to convey sense of urgency and to work productively with internal and corporate business partners (product, actuarial, finance, tax, treasurers, ALM, etc.)
• Highly motivated and creative problem solver; able to thrive in a fast-based, results oriented environment
• Strategic thinker on actuarial pricing, modeling, and product design issues; demonstrated ability to thoughtfully analyze, assess, challenge, and influence, across ALM, actuarial, controllers, treasurers, and business partners.
• Superior technical expertise in actuarial risk-based modeling; ability to perform complex actuarial work in reserving, capital modeling and/or management, hedging, and actuarial modeling.
• Strong project management skills
• Collaborative and team-oriented leadership style
• Market exposure within Financial Services/Retirement/Structured Products industry

FSA with 10+ years of actuarial pricing and product development, asset/investment/risk modeling; other risk/investment professional designations such as CFA, CERA, PRM, or FRM would be welcomed.

Investment Associate- ALM0000X

Location: Newark

Asset/Liability Management (ALM) is responsible for the construction of investment portfolios and asset and liability management for Prudential's domestic business operations.

The associate will provide critical, hands-on support in the design and implementation of investment strategies and will serve as team lead to a pool of analysts supporting the domestic institutional businesses.

Responsibilities will include:

• Working closely with portfolio managers in evaluating asset/liability management decisions
• Business support (including transaction support, providing guidance in liability pricing, financial analysis/modeling, scenario analyses, understanding of actuarial implications and communication of complex concepts, etc.)
• Development and monitoring of derivative strategies
• Assessing portfolio investment performance and analyzing the drivers of results
• Evaluating alternative investments and highly structured transactions
• Investigating trends or developments in various industries and sectors of the U.S. economy
• Managing a team of analysts supporting the domestic institutional businesses

Qualifications:

• An undergraduate degree in a highly quantitative discipline such as statistics, mathematics, business, engineering, economics, computer science, finance or a similar quantitative subject area.
• Ability to develop complex data models in Excel
• Strong analytical, organizational and negotiating skills
• Excellent structured problem solving and the ability to explain results (both oral and written).
• Ability to comfortably interact with internal and external counterparties.
• Strong mathematics background
• 5-7 years of prior investment experience required

MBA and/or CFA strongly preferred

Sr. Quantitative Risk Analyst-CAP0000P

Location: Newark

The Quantitative Analysis Group is a newly formed unit reporting to the Head of Capital Markets Hedging. The focus of the group is to design and implement production models for derivatives, assets, and liabilities in support of the Capital Markets Hedging Program within the Annuities business unit. As a senior member of the quantitative staff the emphasis will be on developing robust C++ models including creation and use of C++ libraries, attendant documentation, writing test programs, and contributing to the group's programming standards and development frameworks.

The Senior Quantitative Risk Analyst role is a new position specializing in quantitative modeling and programming reporting to the Head of Modeling.

Principle Duties and Responsibilities:

• Design and implement bespoke C++ models for deployment in a large-scale General Purpose Graphical Processor Unit (GPGPU) -based numerical computing environment using Nvidia's CUDA API, various Boost libraries, and Numerix and Quantlib libraries.
• Assist in the development of a robust software architecture.
• Expert in the financial mathematics of quantitative derivative models and risk models.
• Drive the communication and adoption of quantitative methods by different business/functional users within Capital Markets Hedging. Be a change agent who facilitates transition from existing approaches to newer approaches, and overcomes barriers to mindset change.

Qualifications:

• At least 4-5 years of modeling in risk management or financial engineering within a capital markets and/or variable annuity hedging environment.
• Experience and depth in model calibration and parameter estimation, including optimization techniques and econometric analysis.
• Financial engineering, MS/PhD level mathematics knowledge, along with senior management communication, interaction experience is a strong plus.
• Good written technical communication skills.
• Ability to act collaboratively and be supportive, but also to push back when specific requests are not justified or not appropriate for the overall strategy.
• Strong interpersonal skills, engaging, approachable, with the ability to influence.
• High energy, self-motivated, with good self-management skills.
• Ability to build rapport at all levels and be a strong role model and team player.
• Advanced degree (MS or PhD) in applied mathematics, financial engineering, financial economics, physics, computer science or other quantitative field.