PGIM Quantitative Solutions, Sr Trader, Principal (Hybrid) (Finance)
Job Classification:
Investment Management - InvestmentsAs the Global Asset Management business of Prudential, we're always looking for ways to improve financial services. We're 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, you'll unlock a motivating and impactful career – all while growing your skills and advancing your profession at one of the world's leading global asset managers!
If you're not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that's investing in your future by shaping tomorrow today. At PGIM, You Can!
What you can expect:
The PGIM Quantitative Solutions (PQS) trading team is responsible for the accurate and timely execution of trades submitted by portfolio managers. Trading must be conducted in a way that meets best execution requirements expected by PQS's investment management clients. In addition to execution responsibilities, the trade team monitors the performance of trades and trading counterparties; ensures that trades are accurately filled in a timely manner; sees that trade results are quickly reconciled and incorporated into portfolio management and accounting systems; evaluates brokers, counterparties and trading technologies. The team works very closely with portfolio management and reports daily on trading performance and market conditions. Most equity trading involves large baskets of securities and may involve balanced, or unbalanced trades. Although the team's primary focus is on global equity trading, it is also responsible for trading a variety of other securities around the world including a variety of derivatives and some fixed income instruments. Most trading is accomplished within a normal business day, however, this position may entail work outside of conventional business hours to accommodate trading on international stock exchanges.
What you will do:
- Trading derivatives, equities and other financial instruments on US and International portfolios.
- Manage rolls of domestic and international futures contracts.
- Monitor contributions and withdrawals and futures positions in equity portfolios.
- Prepare baskets for agency and principal trading.
- Work block trades.
- Prepare detail analysis of international trades; run individual or aggregate pre-trade and post trade analyses.
- Reconcile post trade performance and monitor individual broker performance.
- Monitor developments affecting broker capabilities and business stability.
- Monitor and report on market conditions.
- Monitor developments in trade execution theory and practice, including new execution venues and tools used by institutional trade desks.
- Keep abreast of academic and industry literature relevant to trading.
- Back-up head trader when required.
- Collaborate with senior management to provide feedback on market conditions, client needs, and emerging trends to shape future offerings.
What you will bring:
- Bachelor's degree with corresponding experience.
- At least 7-10 years working in a domestic/international trading environment trading equities and futures.
- Experience with various trading algorithms and platforms.
- Strong understanding of investment management processes, equity and fixed income markets and procedures and controls related to trading, portfolio accounting and portfolio administration; this includes a strong understanding of trade entry, settlement and reconciliation processes.
- Knowledge of international equity and currency markets and institutions.
- Working knowledge of modern portfolio theory, stock market microstructure.
- Strong understanding of the basics of trade cost measurement including VWAP and implementation shortfall.
- Strong quantitative and analytical skills; some experience with computing languages and database structure is helpful.
- Excellent communicator, negation, and relationship building skills.
- Highly organized and detail-oriented.
What will set you apart:
- MBA and/or CFA (or working towards) strongly preferred,
- Programming skills
- Advanced skills in Excel and capable of working with large data sets.
- SWAP/FX Trading Experience
- AI Related Training
PGIM believes in the Power of a Hybrid work arrangement. The Power of Hybrid is both the flexibility of work from home, as well as the networking and career development of in-person work with colleagues through weekly anchor day(s). This position will work a hybrid schedule in our Newark, NJ office.
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 $150,000 to $200,000. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and 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.
About PGIM Quantitative Solutions Group Our Business:
PGIM Quantitative Solutions is the quantitative, multi-asset and liquid alternatives specialist of PGIM. For more than 45 years, PGIM Quant Solutions has helped investors around the world solve their unique needs by leveraging the power of technology and data as well as advanced academic research. PGIM Quant Solutions manages portfolios across equities, multi-asset and liquid alternatives and offers defined contribution solutions. For more information, please visit PGIM Quantitative Solutions
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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 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.
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 accommodations.hw@prudential.com.
If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.
