Job Classification:
Investment Management - Investments
Global Portfolio Management (GPM) is a unit of the Chief Investment Office (CIO) organization that is responsible for the management of the $400 billion General Account, which includes the domestic and international insurance investment portfolios of Prudential Financial Inc. and affiliates.
GPM is responsible for developing asset liability management (ALM) oriented portfolio strategies that include target levels of interest rate exposure and asset allocation among various public and private fixed income sectors, public equities, and alternative assets. GPM implements these portfolio strategies by selecting, directing, and overseeing asset managers with scale and demonstrated expertise in the management of specific asset classes.
We are seeking an Investment Senior Associate to join our Portfolio Strategist team within GPM. In this role you will provide critical, hands-on support in the research, development, and implementation of the Individual Life Insurance (ILI) and Closed Block Division (CBD) investment strategies. The individual will work closely with CIO’s portfolio managers, business partners within ILI and CBD as well as corporate functions to support both businesses.
The current EWA for this position is Hybrid and requires your on-site presence on a reoccurring basis as determined by your business. Your manager will provide additional details relative to the specific number of days you are expected to be on-site.
What you can expect:
• Participate in the development and implementation of the investment strategies supporting the Individual Life and Closed Block investment portfolios totaling $80B in assets.
• Develop Strategic Asset Allocation (SAA) targets and reinvestment strategies to support financial objectives that align with the duration profile and risk characteristics of the liability.
• Recommend portfolio strategies within investment guidelines while balancing multiple constraints including investment and market risk limits, income volatility, tax realization, liquidity and capital usage.
• Collaborate with the businesses to identify, measure, and manage capital markets exposures embedded in the liabilities.
• Propose investment assumptions used in new product pricing and in-force projections.
• Assess appropriateness of new asset classes to support liability profile in context of portfolio’s overall risk/return profile and applicable constraints.
• Present investment portfolio and capital markets topics to senior audiences.
• Partner with associates in Individual Life and Closed Block, other teams within CIO (e.g., Global Investment Strategy (GIS), Manager of Managers, Modeling and Analytics) and corporate functions (e.g., Finance and Actuarial, Enterprise Risk Management, Treasurer’s department) in understanding and addressing portfolio issues.
• Engage in broad portfolio surveillance across multiple asset classes.
What you’ll need:
• 6-8 years of investment and/or risk management experience is required
• Bachelor’s Degree.
• Capital markets knowledge with experience in a variety of asset classes including corporate bonds, securitized products, mortgage loans and derivatives.
• Strong communicator, coordinator and thought partner; as well as ability to problem solve and explain solutions (both oral and written).
• Excellent project management skills.
It’d be a plus if you had:
• A CFA designation and/or MBA or FSA.
• Previous experience in investments, credit analysis or fixed income.
• Knowledge of insurance products and insurance capital frameworks.
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 $160,000 to $190,000. 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.
What we offer you:
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Market competitive base salaries, with a yearly bonus potential at every level.
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Medical, dental, vision, life insurance, disability insurance, Paid Time Off (PTO), and leave of absences, such as parental and military leave.
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401(k) plan with company match (up to 4%).
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Company-funded pension plan.
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Wellness Programs including up to $1,600 a year for reimbursement of items purchased to support personal wellbeing needs.
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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.
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Education Benefit to help finance traditional college enrollment toward obtaining an approved degree and many accredited certificate programs.
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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.
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.
If you need an accommodation to complete the application process, please email [email protected].
If you are experiencing a technical issue with your application or an assessment, please email [email protected] to request assistance.
Top Skills
What We Do
PGIM, the investment management business of Prudential Financial, Inc.* is a multi-manager that delivers industry-leading strategies and solutions to clients. Each business maintains its own investment process and culture, allowing for a singular focus on delivering investment returns for clients.
The PGIM businesses offer investors a wide range of investment strategies across asset classes and geographies, including public equities, public and private fixed income, commercial mortgages and real estate. Clients of PGIM can rely on superior long-term performance, risk management expertise and innovative products to help them realize a wide range of business objectives.
In addition, PGIM uses its collective knowledge and business expertise to work with public, private and non-profit sector partners to create solutions that address critical social issues that have an enduring impact.
*Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.
