PGIM - Associate, SMA Investment Operations Opens in window

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Job Classification:

Investment Management - Investment Operations

We are seeking an Associate to support the day-to-day operational functions of the separately managed account (SMA) platform. This role is responsible for providing end-to-end operational oversight for the SMA platform, ensuring accurate, timely, and well-controlled execution across daily, periodic, and annual processes. The position supports critical functions including billing and revenue reporting, client agreements and RIA documentation, new account onboarding, custodian coordination, operational reporting, and exception management.

The role partners closely with Finance, Legal, Sales, Trading, and Technology teams to resolve issues, maintain data integrity, and support platform growth, while continuously enhancing operational controls, documentation, and process efficiency.

PGIM Custom Harvest, a division of the PGIM Global Wealth group, is a pioneer in the development of tax-beneficial investment strategies using exchange-traded funds (ETFs) for clients seeking improved after-tax outcomes. We provide full exposure to a client-selected benchmark while generating tax alpha through customized SMA portfolios of ETFs. PGIM Custom Harvest manages $7.1 billion on behalf of a wide range of RIAs and wealth managers.

• Separately Managed Account Operations:
  Support of daily SMA operational workflows:
  Account onboarding, maintenance, and funding;
  Provide end-to-end operational oversight across daily, weekly, monthly, quarterly, and annual SMA operational processes to ensure accuracy, timeliness, and control.

• Billing & Revenue Support:
  Support all aspects of the billing lifecycle, including estimated and final quarterly management fees, terminations, and billing backup coverage;
  Prepare and deliver quarter-end management fee and account balance reporting for Finance, including PGIM seed and management fee accounts;
  Maintain and update Quarterly Management Fee Summary files and support revenue reconciliation processes.

• Client Agreements & RIA Documentation:
  Coordinate and support new and updated Client Service Agreements (CSAs) and RIA side letters, including onboarding of new RIAs;
  Ensure documentation is accurate, complete, and aligned with operational and legal requirements.

• New Account & Custodian Onboarding:
  Support new account onboarding across custodians, including Proxy Edge setup and custodian-specific configurations (e.g., LPL, Raymond James, Goldman Sachs);
  Assist with account setup nuances such as HIFO elections, sponsor profiles, and seed account templates.

• Daily Operational Oversight:
  Oversee daily operational workflows (Account terminations and reactivations, Corporate actions and related communications, Rep code updates and relationship pricing maintenance, Family  and account data integrity reviews);
  Monitor and manage operational inboxes, systems, and service tools to ensure timely issue resolution; and Partner with internal and external stakeholders to investigate and resolve operational exceptions.

• Ongoing Reporting & Data Management:
  Produce and distribute daily and combined trade files, account status reports, and operational reporting for key stakeholders;
  Maintain and validate AUM, flow, and revenue reporting, including monthly and quarterly deliverables;
  Support quarterly data submissions…