Job Classification:
Investment Management - Portfolio Research
What you will do A research position within the Securitized Products group of PGIM Fixed Income focused on CLO credit strategies. The successful candidate will work closely with portfolio management teams to analyze CLO investments, monitor portfolio positions, and contribute to investment decision-making. Responsibilities include analyzing CLO collateral and structures, conducting surveillance on existing investments, assigning and maintaining internal credit ratings, and evaluating relative value opportunities. The role also involves assessing CLO collateral managers, integrating macroeconomic and sector trends, and contributing to investment strategy and portfolio positioning. The candidate will collaborate with internal teams and external market participants including investment banks, rating agencies, and trustees, to support due diligence, transaction execution, and ongoing market insight.
This position follows a hybrid work model, with working 3 days in the Newark, NJ office and 2 days remote.
What you can expect - Contribute to capital deployment strategies by identifying investment opportunities across CLO transactions.
- Present and support investment research and relative value analysis to portfolio management teams, influencing portfolio positioning.
- Analyze CLO collateral, structural features, and documentation.
- Track portfolio positions to evaluate credit risk, rating stability, cash flow performance, and relative value opportunities.
- Conduct sensitivity and scenario analysis on CLO investments and automate analytical processes where appropriate.
- Assess collateral behavior by integrating bottom-up analysis with macroeconomic and market trends.
- Develop, enhance, and maintain analytical tools, models, and data pipelines to support research and portfolio monitoring.
- Organize and process data from multiple sources to facilitate surveillance of collateral managers and tranche performance.
- Perform ongoing surveillance of CLO portfolios, including monitoring collateral quality, manager behavior, and structural triggers.
- Support due diligence on CLO collateral managers, including evaluation of business models, underwriting processes, and performance.
- Assist in negotiation and review of structural terms and transaction documentation for new issue CLO investments.
- Engage with market participants including collateral managers, rating agencies, trustees, and other investors to develop market insight.
- Monitor industry trends, regulatory developments, and macroeconomic conditions impacting CLO markets.
- Explore and implement advanced analytical techniques, including automation and natural language processing, to improve research efficiency.
- Develop client-facing materials and support presentations for prospective and existing clients.
What you will bring - BA/BS degree, preferably in a quantitative field
- 8+ years experience in fixed income, banking, and/or capital markets
- 5+ years credit research experience particularly with exposure to CLOs or leveraged loans preferred.
- Strong analytical and quantitative skills.
- Programming and data visualization skills (e.g., Python, Power BI, Tableau) are preferred.
- Experience with Intex and structured finance modeling are required.
- Experience developing analytical tools, automating workflows, or working with large datasets is preferred.
- Knowledge of CLO structures and underlying leveraged loan collateral; familiarity with loan markets is a plus.
- Strong attention to detail and ability to manage multiple assignments in a fast-paced environment.
- Excellent communication and presentation skills, with the ability to articulate investment views clearly.
- Ability to work independently and collaboratively across teams.
- Intellectual curiosity and strong interest in CLOs and leveraged loan markets.
*PGIM welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply. Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The annual base salary range for this role is from $195,000 to $215,000. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. This role is also eligible for additional compensation and/or benefits including a competitive, discretionary annual cash bonus opportunity along with long term incentive awards. Eligibility to participate in the discretionary annual incentive programs are subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance.
What we offer you:- Market competitive base salaries, with a yearly bonus potential at every level.
- Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
- 401(k) plan with company match (up to 4%).
- Company-funded pension plan.
- Wellness Programsincluding 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 and mental health, and career development.
- Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
- Employee Stock Purchase Plan: Shares can be purchased at 85% of the lower of two prices (Beginning or End of the purchase period), after one year of service.
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. To find out more about our Total Rewards package, visit Work Life Balance | Prudential Careers. Some of the above benefits may not apply to part-time employees scheduled to work less than 20 hours per week.
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
