Managing Director, Head of Quantitative Research and Chief Investment Risk Officer

About the position PGIM Public and Private Fixed Income seeks an executive for the role of Chief Investment Risk Officer (CIRO) and Head of Quantitative Research in Newark, NJ. This role involves managing investment risk, overseeing the quant research group, and co-managing the portfolio analysis group. Reporting to the Head of PGIM Public and Private Fixed Income, the executive will identify and manage market and credit risks, oversee proprietary modeling development, and supervise quantitative research staff. Responsibilities include enhancing risk management analytics and working with the Technology Solutions Group on portfolio tools. The role involves managing a team of 70+ people, requiring strong leadership, mentoring skills, and relationship-building. The executive will engage with clients, sharing insights into PGIM's risk function and capabilities.

Responsibilities

• Manage a risk function that is capable of identifying, assessing and anticipating market and credit risk factors, as well as successfully managing the impact and effects of the evolving regulatory framework within the asset management industry.
• Meet with existing and potential institutional investors on a regular basis to describe PGIM Public and Private Fixed Income's differentiated risk capabilities and approach.
• Oversee the ongoing development of the firm's proprietary modeling capability, supervising all quantitative fixed income research staff.
• Oversee the development of overall risk management analytics, performance attribution capabilities and engage in the development of yield curve, credit, structured product and mortgage modeling. Work closely with the Technology Solutions Group to help implement and deliver portfolio risk and analytic tools to the desk.
• Jointly oversee a portfolio analysis group (PAG), which supports the investment process by evaluating portfolio positioning, providing portfolio construction and alignment insight, and analyzing performance drivers across a multitude of investment products and processes to deliver performance attribution.

Requirements

• Detailed public and private fixed income market knowledge and understanding of independent information channels that will aid the investment division in their efforts to structure portfolios, identify investment opportunities, and strategically allocate assets to generate strong risk adjusted returns.
• Experience as the senior investment risk officer at a fixed income asset management firm, hedge fund, or the fixed income division of a bank.
• Managed risk and/or quantitative research at a firm with multiple locations around the world and an international suite of products.
• Ability to actively work with the desk heads/portfolio managers and create excellent working relations with these parties while maintaining intellectual independence.
• Experience partnering with regulatory affairs and a deep understanding of the impact regulatory changes may have on the business.
• Strong management experience, leading teams of senior and more junior professionals with a track record for developing and mentoring others.
• An entrepreneurial spirit with a hands-on management style able to build upon the existing quantitative research and risk management structure and capabilities.
• Ability to think both strategically and tactically, while proactively managing a diverse group of employees.
• Comfortable communicating with clients as a thought leader in the global public and private fixed income investment field.

Nice-to-haves

• Strong academic credentials with a graduate degree.
• Quant modeling background.
• Portfolio management experience and tech resource leadership.
• Entrepreneurial spirit to bring vision to fruition, leveraging internal teams and identifying resources for implementing an investment risk platform and quant research function.

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.

Apply tot his job Apply To this Job