PGIM: Senior Director, Securitized Products Credit Research (Hybrid/Newark, NJ)

About the role

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

• 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.

Requirements

• 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.

Qualifications

• Experience with CLOs or leveraged loans.
• Strong analytical and quantitative skills.
• Programming and data visualization skills (e.g., Python, Power BI, Tableau).
• Experience with Intex and structured finance modeling.
• Experience developing analytical tools, automating workflows, or working with large datasets.
• Knowledge of CLO structures and underlying leveraged loan collateral.
• Strong attention to detail and ability to manage multiple assignments in a fast-paced environment.
• Excellent communication and presentation skills.
• Ability to work independently and collaboratively across teams.
• Intellectual curiosity and strong interest in CLOs and leveraged loan markets.

Skills

• Strong analytical and quantitative skills.
• Programming and data visualization skills (e.g., Python, Power BI, Tableau).
• Experience with Intex and structured finance modeling.
• Experience developing analytical tools, automating workflows, or working with large datasets.
• Knowledge of CLO structures and underlying leveraged loan collateral.
• Strong attention to detail and ability to manage multiple assignments in a fast-paced environment.
• Excellent communication and presentation skills.
• Ability to work independently and collaboratively across teams.
• Intellectual curiosity and strong interest in CLOs and leveraged loan markets.

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.

Pay

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.

Schedule

This role follows a hybrid work model, with working 3 days in the Newark, NJ office and 2 days remote.