Principal, Senior Municipal Finance Credit Analyst (Hybrid/Newark, NJ)

Job Classification:

Investment Management - Portfolio Research

A GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE 

As 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 will do 

The Senior Municipal Finance Credit Analyst will be a member of an investment team that manages high grade and high yield municipal bonds. The Senior Municipal Finance Credit Analyst will be assigned to cover a group of sectors, which may include real estate development, project finance, transportation, industrial development revenue and territory sectors. The Senior Municipal Finance Credit Analyst will provide the initial underwriting and credit decision for, as well as on-going monitoring of high grade and high yield investments in, the assigned sectors.

The Senior Municipal Finance Credit Analyst will work directly with the tax-exempt and taxable municipal bond portfolio management team in developing recommendations on positioning individual credits and sectors within client portfolios. These recommendations will be the result of fundamental analysis of the obligors together with a relative value assessment of risk-adjusted return opportunities within the analyst's sectors. The Senior Municipal Finance Credit Analyst will be expected to cover issuers across the full credit spectrum, including lower quality and stressed / distressed obligors.

What you can expect 

• Covering one or more municipal sectors with a concentration in high yield

• Pitching detailed investment recommendations to tax-exempt and taxable portfolio managers

• Monitoring opportunities through daily interactions with portfolio managers, Wall Street counterparties and the broader investment team

• Building and maintaining financial models

• Documenting both new issue and secondary research and producing sector-based thematic reports

• Analyzing the impact of federal and state policy changes on covered municipal sectors

• Collaborating with other areas of the firm, including the corporate credit team

• Mentoring junior analysts

What you will bring 

• Ten or more years of credit analysis experience in public finance, preferably at a buy side or sell side firm

• Experience and demonstrated success with high-yield municipal sectors, including workout experience

• Strong bottom-up credit fundamental analysis and financial modeling skills

• Experience with corporate credit and commercial real estate preferred, but not necessary

• Excellent communication skills and ability to write clearly and concisely

• Bachelor’s degree required; MBA or CFA preferred

What will set you apart? 

• Ability to work independently in a fast-paced environment and make quick decisions often with incomplete information

• Strong understanding and demonstrated interest in statistics, economics and global fixed income

• Strong background in global fixed income products and relative value investing

• Experience with Bloomberg. Familiarity with BQuant and Python programming language preferred.

*PGIM welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply. 

Note: Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The annual base salary range for this role is from $220,000 to $230,000. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. This role is also eligible for additional compensation and/or benefits including a competitive, discretionary annual cash bonus opportunity along with long term incentive awards. Eligibility to participate in the discretionary annual incentive programs are subject to the rules governing the program, whereby an award, if any, depends on various factors including, without limitation, individual and organizational performance.

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.