Senior CMBS Research Lead (Hybrid)

Prudential Financial, Inc in; Newark (NJ); Hybrid; USD 145,000 - 155,000; Full time

Benefits offered by this job

Market base salary

Medical insurance

PTO

401(k) match

Pension plan

Wellness programs

Work/Life resources

Education benefit

Employee stock purchase plan

Job summary

PGIM Credit in Newark is seeking a Sr Associate for CMBS Research within the Finance group. The role analyzes CMBS investments, supports portfolio decisions, and collaborates across internal teams and external participants to uncover opportunities and manage risk.

You will build credit views, maintain models, and contribute to market insights while engaging with issuers and market participants to support execution and investment ideas. A hybrid work approach is offered with competitive rewards.

Qualifications

• Bachelor's degree required.
• 4-7 years in fixed income, securitized products, CRE finance, or CMBS research.
• Strong analytical and quantitative skills in credit analysis and cash flow modeling.
• Programming and data visualization skills preferred (Python, Power BI, Tableau).
• Exposure to CMBS collateral, CRE fundamentals, and securitization structures.
• Proficiency in Excel and large data set handling.
• Excellent communication and presentation abilities.

Responsibilities

• Analyze CMBS transactions across new issue and secondary markets, evaluating collateral, underwriting, loan structure, sponsor strength, and credit features.
• Develop internal credit views and relative value assessments for CMBS, including conduit and CRE securitized products.
• Build models and run scenario analyses to assess bond performance under CRE, interest rates, prepayment, and default scenarios.
• Assign and monitor internal credit ratings, credit migration risk, and portfolio positioning.
• Review transaction documents, materials, third‑party reports, and deal structures.
• Monitor markets and CRE fundamentals, identifying risks and opportunities affecting risk/return.
• Collaborate with PMs, traders, and research teams to form investment recommendations and CMBS strategy.
• Engage with issuers, dealers, servicers, rating agencies, and trustees to deepen market insight and execute transactions.
• Contribute to internal presentations and client materials on CMBS themes and portfolio positioning.

Skills

CMBS research

Fixed income

Credit analysis

Cash flow analysis

Scenario modeling

Python

Power BI

Tableau

Excel

Data visualization

Education

Bachelor's degree

Tools

Intex

Trepp

Bloomberg

Real Capital Analytics

Job description

PGIM Credit in Newark is seeking a Sr Associate for CMBS Research within the Finance group. The role analyzes CMBS investments, supports portfolio decisions, and collaborates across internal teams and external participants to uncover opportunities and manage risk.

You will build credit views, maintain models, and contribute to market insights while engaging with issuers and market participants to support execution and investment ideas. A hybrid work approach is offered with competitive rewards.