PGIM Investments, Director, Mutual Fund Administration

Job Description

PGIMPGIM is the investment arm of Prudential Financial, Inc., a company incorporated and with its principal place of business in the United States, and which is listed on the NYSE (NYSE: PRU) [1]. Prudential Financial, Inc. is not affiliated in any manner withPrudential plc, a company incorporated in the United Kingdom. PGIM manages over US$1 trillion in assets under management and is a top 10 worldwide money manager servicing pension funds, central banks, sovereign wealth funds and insurance companies. PGIM also offers a wide range of products and services for retail clients,including managing investments for mutual funds, annuities and 401(k) plans. PGIM is comprised of autonomous asset management businesses each specialising in a particular asset class with a focused investment approach. Each group holds a strong market position in the asset class in which it offers products and services, and benefitsfrom the support of a strong financial parent. Whilst they share infrastructure, common resources and a central investment philosophy (focus on investment performance and alpha generation), each boutique runs an autonomous investment process and entrepreneurialculture which allows them to attract/retain top talent and execute nimbly. CulturePGIM has a global footprint with presence in 18 countries. The group employs over 3,500 employees including over 1,200 investment professionals and is proud of its distinctive culture. It is a non-political and non-aggressive organisation with a sound reputationfor the pedigree and professionalism of its employees. PGIM prides itself on employing intelligent, thoughtful and hard-working individuals. It has a strong risk management culture driven by its insurance heritage and a deep credit culture based on a bottom-upunderstanding of individual credits. The organisation has a feeling of quality and stability but at the same time it is forward-thinking and evolutionary in its approach. Employees find it a hugely congenial place to work with a strong sense of team spirit existing throughout the group at everylevel. As a result, staff turnover is particularly low, especially on the investment side where investment professionals average 23 years industry experience including 15 years working for PGIM. This is also testament to the groups dedication in helping employeesdevelop their careers within the organisation. PGIM launched an Irish domiciled UCITS platform in 2013 (PGIM Funds PLC) which currently has over $7.5billion in assets across 29 funds managed by PGIM Fixed Income, PGIM Real Estate, Jennison and PGIM Wadhwani. These assets have come from third parties aswell as PGIM seed capital. PGIM has taken a strategic decision to aggressively pursue asset raising opportunities, particularly in the global retail markets where it has not been prominent to date. PGIM will develop relationships with third party distributors outside the US, with a primaryfocus on EMEA but also seeking opportunities in Asia, Japan & South America. Relationships with distributors of Prudentials retail mutual fund family in the US will be leveraged. The range of funds available in the UCITS vehicle is being expanded to includefurther funds managed by the PGIM investment management businesses. The UCITS initiative and the legacy QIF platform propelled the need to create a London based group, PGIM Investments International, that is focused on (i) development, management and servicing of the distribution relationships; (ii) operational support forthe day-to-day activities of the fund including on-going supervision of outsourced service providers; (iii) management of the extensive governance requirements of the fund; and (iv) maintenance and development of the fund structure from a legal and regulatorypoint of view. PGIM Investments plans to realize its growth opportunities in Europe by building regional teams to cover the largest addressable markets. As PGIMs asset management affiliates have separate sales team(s) who target institutional opportunities (sovereign wealth,pension, central bank) the Financial Intermediary Group (FIG) is keenly focused on UHNW intermediary opportunities, including private bank, family offices, unit linked, fund of funds and distribution platforms throughout the region(s). As part of the firms global expansion, PGIM Investments International is looking to hire a Fund Administration Manager to bolster operational support for the day-to-day activities of the fund including on-going supervision of outsourced service providers;maintenance of the governance requirements of the funds and maintenance of the fund structure from a legal and regulatory point of view. Key Responsibilities

• Team leader for NAV review on UCITS/QIF funds (Alternative Real Estate, Fixed Income, Equity funds) & error management with outsourced fund administrator
• Team leader for maintaining swing pricing governance & review
• Team leader for oversight of management fee billing, performance fees & rebate processing
• Team leader for oversight of fund invoice processing and ensuring adherence to best practices for vendor & invoice payment management
• Team leader for outsourced custody fund services, cash & position aged break review and oversight
• Sub custody market opening review & maintenance for countries where the funds trade directly in the local markets
• Lead weekly outsourced fund administration service calls, SLA review & annual due diligence visits
• Team leader for expense budget & TER review at fund & class level
• Monthly & Quarterly fund distributions review
• Work with each investment management Affiliate on day to day requests, product events e.g. In Specie/TIK/fund launches/fund closures
• Work with the administrator and external auditor to coordinate the annual audit/interim reporting and tax requirements at umbrella and sub fund level
• Key point of contact for accounting and regulatory fund disclosures
• Assist with the oversight of outsourced fund services, including fund accountants, auditors and tax advisors
• Maintain oversight & governance of funds credit facility

Background & Qualifications

Qualified Accountant (ACCA/ACA) preferred

Experience with UCITS/QIF fund structures, Equity, Fixed Income, Real Estate funds

Minimum of 4-5 years experience preferably at an Investment Manager, focused on outsourced fund admin oversight

Degree educated

Strong technical knowledge of NAV production & accounting regulations

Stakeholder management, internal and external relationships including accountants, auditors and tax advisorsHigh energy, proactive, enthusiastic, high quality in