Job Classification:
Corporate - Human Resources
A GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE
As the Global Asset Management business of Prudential, were always looking for ways to improve financial services. Were passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world.
We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, youll unlock a motivating and impactful career all while growing your skills and advancing your profession at one of the worlds leading global asset managers!
If youre not afraid to think differently and challenge the status quo, come and be a part of a dedicated team thats investing in your future by shaping tomorrow today.
At PGIM, You Can!
What You Will Do
Reporting to the Head of Portfolio Analytics, the VP will have primary responsibility for developing economic assumptions, scenario generation, and asset modeling that feed ALM analysis and portfolio construction for PGIM Multi Asset Solutions (PMA) clients. This will include building models to project the future performance of specific asset classes under different economic scenariosespecially, bespoke private and structured assets with less data visibility. It may also include contributing to the development of nimble, asset-focused optimization tools and of our full ALM-based optimization framework.
The position will involve individual contribution at the technical level, leading junior colleagues, and potentially direct management responsibility as PMAs business grows. It will require developing new models and gaining mastery of existing models within PMAs analytics platform for multi-asset portfolio optimization, real-world economic simulation, and risk/capital analytics
This role is based in our office in Newark, NJ. Our organization follows a hybrid work structure ( 3 days in office) whereemployees 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
Develop deal-specific economic assumptions for portfolios of ABF, RML, CML, MML and Mezzanine loans
Build valuation models, or configure 3rd party functionality, for bespoke assets and derivative hedges
Build dynamical models for spreads and losses associated with public and private assets
Calibrate vols and correlations within these dynamical models to historical data
Devise mapping methodologies to leverage public market data for bespoke asset modeling
Develop portfolio optimization models incorporating the impact of regulatory capital charges
Investigate what drives key model outputs like the shape of efficient frontiers and composition of optimal portfolios
Work with asset specialists to analyze historical loss data for private and structured assets
Explain model outputs to other quants, portfolio managers, client specialists, and business leaders
Build attribution models for breaking down portfolio or liability value changes in terms of various risk factors
Lead junior colleagues on time-critical projects for PMA clients
What You Will Bring
Masters in quantitative finance or comparable academic experience in math, physics, etc.
5-10+ years experience in a quant role within banking, asset management, or insurance
Experience with structured products, ABF, and other bespoke private assets
Solid programming background, with a Python emphasis (pandas, numpy, scipy, etc.)
Reliable knowledge of core quant finance topics: probability theory, canonical stochastic models, convex and general non-linear optimization, fixed income modeling and securitization, options theory, etc.
Practitioners understanding of why these models were originally defined, how they are actually applied, what their limitations are, and how they could be enhanced or generalized according to business needs
What will set you apart?
Technical mastery, experience with bespoke assets, leadership and communication skills, and experience managing quants
Familiarity with different insurance regulatory regimes, especially Bermuda
*PGIM welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.
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 $170,000 to $200,000. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skill
About PGIM Multi-Asset Solutions Group (PMA)
PGIM Multi-Asset Solutions (PMA) is a 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, PMA will oversee portfolio construction and management and will partner with PGIM affiliates including PGIM Fixed Income, PGIM Private Capital, PGIM Real Estate and PGIM Quantitative Solutions to deliver best in class origination, trading, research, and risk management capabilities across a full range of asset classes.
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 Programs including up to $1,600...

Equal Opportunity Employer - minorities/females/veterans/individuals with disabilities/sexual orientation/gender identity