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PGIM Private Capital - Assistant Controller, Fund Accounting at Prudential Ins Co of America

Posted in Accounting 11 days ago.

This job brought to you by eQuest

Type: Full-Time
Location: Chicago, Illinois





Job Description:

PGIM, the global investment management businesses of Prudential Financial Inc., is a multi-manager organization that delivers industry-leading strategies and solutions to clients around the world. PGIM Private Capital (“PPC”) is the private capital investment arm of PGIM and one of the largest private debt investors in the world with nearly $87 billion in AUM across more than 1,000 companies globally (as of March 31, 2019). PGIM Private Capital typically invests over $13 billion annually in privately placed senior and mezzanine financings with middle-market companies.


With 14 regional offices worldwide, PGIM Private Capital is known for its unique regional sourcing network, known as Prudential Private Capital, and its relationship-based investment approach, which has delivered strong and consistent results over the past 75+ years. Prudential Private Capital provides strategic financing across the private capital risk spectrum (debt, mezzanine, and equity) in a diverse set of bespoke and proprietary transactions generated by its global office network. 

Assistant Controller Role:

The PPC Alternatives Operations and Finance team is a unit within PPC responsible for the financial oversight and reporting of multiple credit fund strategies and their limited partnerships. Currently, the team is responsible for four mezzanine funds, one mezzanine energy fund and will support the Direct Lending strategy and its potential future funds. The limited partners within these funds include various subsidiaries of Prudential Financial Inc. along with outside U.S. and non-U.S. institutional investors including public and private pension funds, other insurance companies, sovereign wealth funds and family offices.   

The Alternatives Operations and Finance team is seeking an Assistant Controller to join their team.  This position will serve a critical role as part of a global, collaborative and dynamic team. This position is in Chicago and will report to team’s Chief Financial Officer (CFO). The Prudential job title will be at the Associate Manager level.    

The position responsibilities will include, but may not be limited to, the following:


  • Directs and works with the funds’ outside fund administrators engaged in the collection, recording, analysis and reporting of accounting transactions

  • Responsible for accounting projects relating to the maintenance of a complete and accurate general ledger

  • Directs and works with the funds’ tax compliance providers engaged in the calculation and dissemination of tax estimates, tax analyses and tax returns

  • Planning and calculating investor capital activity and preparation of investor communication related to capital activity

  • Cash and line of credit management within the assigned funds

  • Perform fund accounting tasks resulting in timely and accurate managerial reports and financial statements

  • Identify and resolve workflow issues and assist in the implementation of policies and procedures

  • Assemble and analyze fund performance data and asset valuation analyses

  • Collect and analyze data in support of the various regulatory and compliance obligations of the various funds, and data used in marketing the funds to new investors

  • Support the Fund Controllers and Chief Financial Officer on various assignments/projects as needed

  • Supporting the investment teams with respect to the information needed for fundraising and new product and strategy exploration, both during the formal marketing period and between funds

  • Management and supervision of staff located in Ireland, to include providing appropriate training and coaching

Requirements


  • BS/BA degree in Accounting, Finance or related discipline required.  A CPA designation would be a plus

  • Two plus years of administrative, accounting, tax or operations experience in the financial services industry

  • Knowledge and proven experience with financial statement preparation and accounting guidelines

  • Ability to convey sense of urgency and to work productively with both internal and external business partners (Prudential Enterprise, investors, investment professionals, portfolio companies, etc.)

  • Strong organizational skills including the ability to adapt to changing circumstances and adjust priorities as needed

  • Superior analytical skills, accuracy and careful attention to detail are essential

  • A person who brings positivity, geniality and optimism to their work

  • Critical thinking and problem-solving experience required

  • Minimal travel (less than 5%)

Pertinent Experience (a plus to have but not a requirement)


  • Experience in a Treasury function including exposure to asset-level leverage credit lines

  • Exposure to closed-end credit funds with floating rate loans including revolvers

  • Exposure to tax structuring solutions for non-US investors including “Season and Sell”