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
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”