Prudential: 2023 Chief Investment Office (CIO) Summer Analyst (Internship)

Job Classification:

Corporate - Risk

Location(s): 

Newark, NJ; Hybrid

Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with more than $1.5 trillion in assets under management as of March 31, 2022, has operations in the United States, Asia, Europe and Latin America. Prudential’s diverse and talented employees help to make lives better by creating financial opportunity for more people. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit news.prudential.com.  

Are you looking for a career that helps you apply your love of capital markets, data analysis, and investments to inform business strategy and work with diverse teams on challenging projects? Are you interested in being a part of an exciting internship program that is focused on developing technical and professional skills while collaborating alongside leaders in the investment community? If you are results driven, have a passion for working with numbers, and are deeply technical and highly innovative, then Prudential’s Chief Investment Office (CIO) Internship is the role for you!

The Chief Investment Office (CIO) is a major strategic partner to many other departments across the enterprise and relies upon a collaborative culture to effectively create both micro and macro solutions to the most interesting challenges at Prudential. With over $400 billion in assets under management as of 12/31/2021, the CIO is responsible for asset/liability (ALM) management, interest rate risk management, oversight and reporting on product investment margin performance and related hedge management activities. The CIO controls the management of the investment portfolios of Prudential’s General Accounts through its Alternative Assets Group and Global Hedge Management team operating within Prudential Select Strategies LLC, an SEC registered investment adviser, and its U.S. and International Portfolio groups, and Global Investment Strategy team.

Timeline:

The internship program will run from Monday, June 5th, 2023, to Friday, August 11th, 2023.

We review applications on a rolling basis, and we encourage you to apply as soon as you are ready. To ensure you are considered for the opportunities you want most, you are only able to apply to 3 positions per recruiting season. All applications must be submitted at one time. 

All applications should be fully completed by March 17th, 2023, at midnight ET.

The 10-week Internship Program will provide you with valuable professional and personal development experiences.

Placements will vary across the business, some experiences within our CIO Summer Analyst Internship could include:

• Alternative Assets Group – This group originates, underwrites, and manages a diversified portfolio of fund investments to maximize risk-adjusted return on required capital. The team is organized into the following asset classes and teams: Private Equity, Hedge Funds, Real Assets, Manager of Managers, and Risk Management.
• Global Hedge Management (GHM) – GHM provides comprehensive hedging solutions and efficient trade execution. The team utilizes its capital markets acumen and liability knowledge to implement and manage multiple hedge programs for the CIO. Some of GHM’s responsibilities include Trading & Hedge Management, Hedge Strategy, Marketing & Production Development, and Managerial Analytics.
• U.S. Portfolio Management (USPM) – The U.S. Portfolio Management (USPM) group is the portfolio manager responsible for managing Prudential’s proprietary U.S. investment portfolios.  USPM develops asset-liability management-oriented portfolio strategies that include target levels of interest rate exposure and asset allocation among various public and private fixed income sectors and alternative assets.   USPM implements these portfolio strategies by selecting, directing, and overseeing asset managers with scale and demonstrated expertise in the management of specific asset classes.
• International Portfolio Management (IPM) – IPM is the portfolio manager responsible for managing Prudential’s proprietary international investment portfolios. IPM develops asset-liability management-oriented portfolio strategies that include target levels of interest rate exposure and asset allocation among various public and private fixed income sectors and alternative assets. IPM implement these portfolio strategies by selecting, directing, and overseeing asset managers with scale and demonstrated expertise in the management of specific asset classes.
• Global Investment Strategy (GIS) – The GIS group is responsible for the broad investment strategy and portfolio management across the varying legal entities and portfolios.  The development of the enterprise investment strategy includes key inputs such as market and strategic initiatives, ALM strategy and analytics as well as credit risk portfolio management.  In addition, the flexibility of the non-AOI portfolios allows implementation of total rate of return strategies to significantly enhance economic value.

Required Qualifications:

• Candidates must be enrolled in an accredited bachelor’s program graduating between December 2023 and May 2025
• Preferred majors include mathematics, engineering, economics, computer science, finance, actuarial sciences, or a similarly quantitative subject area.
• Minimum 3.0 GPA recommended
• Prudential does not provide visa sponsorship for this position. Successful candidates must possess the requisite US employment authorization to be eligible for consideration

Preferred Skills:

• Strong written, oral communication, and interpersonal skills
• Advanced proficiency in Excel

Our Application Process:

1. Submit your application.

2. Receive invitation for a digital interview; this includes answering pre-recorded interview questions with the business(es) that advance your application(s).

3. Receive invitation for a final round interview; if selected, you will have the opportunity to meet with us in person or virtually to learn more about our business and culture.

For 2023 early talent roles, our process is designed to help you learn more about Prudential/PGIM and share your story with us. Digital interviewing allows greater flexibility, enables a quicker interview process, allows us to meet more candidates and share your story with more members of the team.

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

Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

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. 

The Prudential Insurance Company of America, Newark, NJ and its affiliates.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at [email protected] for more information about doing business with Prudential.

PEOPLE WITH DISABILITIES:
If you need an accommodation to complete the application process, which may include an assessment, please email [email protected].

Please note that the above email is solely for individuals with disabilities requesting an accommodation.  If you are experiencing a technical issue with your application or an assessment, please email [email protected] to request assistance.