About the role
Job Classification
Investment Management - Investment Operations
GLOBAL FIRM WITH A DIVERSE & INCLUSIVE CULTURE
As the Global Asset Management business of Prudential, we're always looking for ways to improve financial services. We're passionate about making a meaningful impact - touching the lives of millions and solving financial challenges in an ever-changing world. We also believe talent is key to achieving our vision and are intentional about building a culture on respect and collaboration. When you join PGIM, you'll unlock a motivating and impactful career - all while growing your skills and advancing your profession at one of the world's leading global asset managers!
If you're not afraid to think differently and challenge the status quo, come and be a part of a dedicated team that's investing in your future by shaping tomorrow today. At PGIM, You Can!
What you will do
The candidate will be responsible for processing incoming borrower payments and wire activity, ensuring cash is accurately applied to the appropriate loan records and that daily work is balanced and reconciled. This role requires strong attention to detail, the ability to research unidentified or unapplied wires, and timely coordination with internal teams to resolve exceptions.
What you can expect
Handle cash processing functions for loans serviced by PRELS, including incoming borrower payments, wire transfers, ACH activity, and other cash receipts.
Perform daily cash balancing and reconciliation to ensure payments processed agree to bank activity and system postings.
Research and resolve unidentified wires, unapplied receipts, payment discrepancies, receipt account items, and posting exceptions, including monitoring aging items and escalating unresolved issues as appropriate.
Process approved disbursements in the loan system, including suspense, expense, escrow, and reserve activity, and set up and monitor pre-authorized borrower transfers.
Support monthly subsidy billing, MIP transmission to HUD, month-end reporting, ad hoc reporting, and audit requests.
Communicate with internal teams, banking partners, Treasury, Accounting, Asset Management, Special Servicing, and other servicing contacts to obtain supporting details needed to identify, apply, and clear funds.
Maintain accurate documentation of research, resolution steps, clearing activity, and audit support while ensuring payment processing follows internal controls, servicing requirements, and established deadlines.
Identify recurring payment issues or process gaps and recommend improvements to reduce unapplied cash and enhance productivity, efficiency, and customer service.
What you will bring
Bachelor's degree with treasury, banking, cash operations, or loan servicing experience.
Strong understanding of cash processing, bank activity, payment application, daily balancing, and reconciliation responsibilities.
Proficiency in Microsoft Excel, including spreadsheets, formulas, calculations, and data review.
Strong organizational skills with the ability to prioritize high-volume, deadline-driven cash processing work.
Strong attention to detail with the ability to identify discrepancies, research payment exceptions, reconcile daily activity, and manage outstanding items through resolution.
Ability to clearly document research findings, resolution steps, and support for audit or review purposes.
What will set you apart
Experience researching unidentified wires, unapplied cash, suspense activity, receipt account items, or payment exceptions.
Familiarity with commercial mortgage loan payment processing, borrower remittances, banking systems, and loan servicing systems such as McCracken Strategy.
Strong analytical and problem-solving skills with the ability to identify recurring payment issues and recommend process improvements.
Self-starter with a strong sense of urgency and the ability to work independently in a time-sensitive environment.
We know not everyone will meet 100% of the requirements, however we encourage you to apply if you think your skills are a good fit for this role.
PGIM welcomes all applicants, even if you don't meet every requirement. If your skills align with the role, we encourage you to apply.
Note: Prudential is required by state specific laws to include the salary range for this role when hiring a resident in applicable locations. The salary range for this role is from $70,000 to $85,000. Specific pricing for the role may vary within the above range based on many factors including geographic location, candidate experience, and skills. Roles may also be eligible for additional compensation and/or benefits.
About PGIM Real Estate
With $207.9 billion in gross assets under management and administration ($133.8 billion net),1 PGIM Real Estate provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum.
PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate's risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing,2 and the local experience of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit pgimrealestate.com.
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 accommodations.hw@prudential.com.
If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.