A junior research position on the ABS credit research team within the Securitized Products group of PGIM Fixed Income.
The successful candidate will work closely with the ABF and ABS portfolio management teams to help formulate ABS strategy and help monitor the ABS portfolio.
The successful candidate will be responsible for analyzing transaction collateral and economic conditions, assigning and maintaining internal credit ratings, reviewing transaction structures and documentation packages, communicating with investment banking teams, working closely with portfolio management and other internal colleagues to determine investment suitability and relative attractiveness, conducting surveillance on existing investments, and following industry trends.
Contribute to capital deployment strategies by identifying high-impact opportunities across ABS sectors and issuers, fueling investment idea generation and market positioning.
Present and support investment research and relative value trading strategies to the Structured Products ABS portfolio management team, shaping the risk and positioning of the ABS book.
Engage with an issuer’s executive team to analyze business models, operational strategies, and financial health in the process of developing and maintaining internal credit ratings.
Assess issuer performance by integrating bottom-up historical data with top-down macroeconomic trends to inform risk-return expectations and influence security level buy, hold, or pass decisions.
Design, enhance, and maintain analytical tools and visualizations to strengthen risk and analytics frameworks, to drive actionable data driven insights.
Impact ABS sector strategies by monitoring emerging consumer and commercial performance trends, macroeconomic indicators, and legal and regulatory changes.
Track ABS portfolio positions to evaluate credit risk, rating stability, and cash flow dynamics, while identifying trading opportunities.
Advance ESG integration by contributing to proprietary ESG Impact Ratings and documenting ESG engagements.
Build and nurture relationships with market participants—including buy-side investors, legal teams, rating agencies, sell-side firms, and trustees—to gain insights on emerging market dynamics.
Develop and deliver client-facing materials that support presentations for prospective and existing PGIM Fixed Income clients.
Requirements
BA/BS degree (MBA, MS and/or CFA are pluses).
Candidate should have 3-5 years of experience in in fixed income, banking, capital markets, or credit research.
Exposure to securitized products (e.g., MBS, ABS) is helpful but not required.
Programming and Visualization Skills a plus (Power BI, Python, R, Tableau).
Outstanding performance in prior experience and demonstrated leadership qualities.
Works well as part of a team and enjoys a fast paced, high intensity environment.
Possesses strong communication and presentation skills.
Has a keen interest in capital markets and asset-backed securities.
Possesses strong attention to detail and possesses excellent creative and technical skills.
Solid capabilities in fixed income or quantitative finance mathematics.
Benefits
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.
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