Accounting Specialist - PGIM Fixed Income (Hybrid - Newark, NJ)

Prudential Financial; Newark (NJ); On-site; USD 90,000 - 120,000; Full time

Benefits offered by this job

Medical, dental, vision insurance

401(k) plan with company match

Pension plan

Paid Time Off

Job summary

Prudential Financial’s PGIM Fixed Income unit is seeking a Finance & Accounting professional to support the Global Fee Billing team. The role focuses on calculating and preparing invoices for third party institutional clients and assisting with revenue accruals, data governance, and financial reporting.

You will collaborate with Product Data, Client Management, Operations, and Finance to ensure accurate fee terms are reflected in invoices and inquiries are resolved promptly.

Qualifications

• 2–5 years of experience in asset management, billing, or finance roles.
• Bachelor’s degree in business, economics, accounting, or finance.
• Experience with Envestnet Revenue Manager, Oracle, or Salesforce preferred.
• Knowledge of investment performance reporting and incentive-based fee schedules preferred.
• Excellent written communication and strong organizational abilities.

Responsibilities

• Review investment management agreements to determine fee terms.
• Set up accounts in Envestnet Revenue Manager for accurate invoicing.
• Support monthly accruals for third party institutional clients.
• Prepare and review client invoices within contractual terms.
• Assist with month-end close and revenue-related responsibilities.

Skills

Excel

Data analysis

Written communication

Interpersonal skills

Time management

Attention to detail

Tableau

Power BI

Education

Bachelor’s degree in Business/Economics/Accounting/Finance

Tools

Envestnet Revenue Manager

Oracle

Salesforce

Job description

Job Classification: Finance & Accounting - Finance & Accounting Overview: We are seeking a candidate to support the Global Fee Billing team within PGIM Fixed Income. The candidate will focus on invoice calculation/preparation for third party institutional clients and the support the revenue accrual function. They will collaborate closely with various internal teams including Product Data, Client Management, Operations, and Finance. The role will enable the candidate to deepen their understanding of fee and revenue calculation, data management & governance, financial reporting, and fixed income products.

Role Responsibilities

• Review investment management agreements to determine appropriate fee terms and calculations to be applied to client invoices.
• Set up new accounts in the Envestnet Revenue Manager system according to contracted fee terms, which enables accurate invoicing and revenue accounting.
• Support the monthly accruals for third party institutional asset management clients via Envestnet Revenue Manager.
• Develop models to be utilized for custom performance‑based fee calculation agreements.
• Partner with account managers to address and resolve client inquiries related to their fees.
• Support completion of the annual SOX audit by gathering sample information and answering inquiries for our external auditor.
• Assist with the preparation, review and finalization of quarterly/monthly client invoices. Ensure invoices are prepared in accordance with the contractual terms and within expected timeframes.
• Provide timely responses to client inquires and special requests.
• Assist in identifying causes of accrual/billing issues as the need arises and work to provide prompt resolution.
• Maintain accurate, up to date, processes and controls for customer billing and fees.
• Provide exceptional client service to PGIM’s clients.
• Assist with the month end close and revenue related responsibilities.

Qualifications

• 2-5 years related experience, preferably in a similar role focusing on asset management.
• Bachelor’s degree in business, Economics, Accounting, or Finance
• Previous experience working in an Operations, Billing, Reporting, or Finance department for an institutional investment management organization is a plus
• Previous experience with Envestnet (Revenue Manager), Oracle and Salesforce are preferred
• Familiarity with investment performance reporting and calculation of incentive-based fee schedules is preferred.
• Essential skills include strong written communication abilities and attention to detail.
• Candidate must also demonstrate exceptional interpersonal, organizational, and time management skills
• Must have strong organizational and time management skills
• Must be capable of maintaining focus on both internal and external customers
• Candidate should be self‑motivated and proactive with a willingness & a strong desire to learn.
• Strong proficiency with Microsoft Office applications is required, especially Excel.
• Proficiency with data analytical tools such as Tableau, Power BI a plus.

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).
• 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.

Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status, medical condition or any other characteristic protected by law.

To maintain the integrity and security of our hiring process, Prudential may use identity verification technologies. Your consent will be obtained before any verification takes place.

If you need an accommodation to complete the application process, please email [e-mail].

If you are experiencing a technical issue with your application or an assessment, please email [e-mail] to request assistance.

Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.4 trillion in assets under management as of Dec. 31, 2023, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security.

Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for 150 years. For more information please visit news.prudential.com.

Our Commitment to an Inclusive Workplace

Prudential Financial, Inc. serves its customers in more than 40 countries and territories, and we seek talented, creative individuals from a variety of backgrounds, worldviews, and life circumstances to work with us. We are focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don’t just accept difference—we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career, and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential.

PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), is a global investment manager with US $1.3 trillion in assets under management as of Dec. 31, 2023. With offices in 18 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate, and alternatives. For more information about PGIM, visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

PGIM Inc. (PGIM) is the principal asset management business of Prudential Financial, Inc. (PFI), a company incorporated and with its principal place of business in the United States. PFI of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.

Our Commitment to an Inclusive Workplace

Prudential Financial, Inc. serves its customers in more than 40 countries and territories, and we seek talented, creative individuals from a variety of backgrounds, worldviews, and life circumstances to work with us. We are focused on creating a fully inclusive culture, where all employees feel comfortable bringing their authentic selves to work. We don’t just accept difference—we celebrate it, support it, and thrive on it. At Prudential, employees have a unique opportunity to build their career path by owning their development, their career, and their future. We encourage employees to hone their skills and explore continued opportunities within Prudential.