Treasury Associate Job Listing at Prudential in Newark, NJ

Insurance, Finance

The Bank Compensation Unit is part of the Treasurer's Department and is primarily responsible for consulting, validation and payment of bank fees, negotiation of Treasury related bank agreements and monitoring of compliance processes.   
 
The position responsibilities supporting bank relationships include:

• Liaising between banks and businesses on bank servicing issues and opportunities, along with administration of monthly scorecard process


• Periodically collecting bank relationship information from various sources  


• Administration of credit related reporting requirements, payments and ad-hoc support to management on credit related initiatives


• Fielding information requests from internal sources and financial institutions with regard to financial information or compensation information


• Participating as needed in projects assigned to the Corporate Banking   


• Developing a thorough working knowledge of the bank compensation process and applications used in order to complete assigned bank payments (i.e. Weiland, ORACLE, CHARMS)


• Preparing payment packages for authorization, perform payment processing, and voucher processing


• Performing trend analysis upon request or proactively based on identified issues


• Utilizing available systems to provide analysis to management and create reports to summarize payment trends, variance information and service satisfaction


• Documenting processes and updating procedures as necessary


• Continuously identifying areas for improvement within the bank relationship function

 
This position requires standard business hours with possible mandatory overtime.  Additional responsibilities will depend largely on the candidate's background, skills, experience and performance. While the individual will initially have the responsibilities described above, there may also be the opportunity for exposure to work in other aspects of Corporate Banking.
 

• A minimum of a Bachelor's degree is required. Finance or business administration major preferred
• Good oral and written communication skills to effectively address processing issues and work with business partners and outside service providers to build relationships
• Comprehension of basic analytical concepts (i.e. trending and identification of cyclical patterns, variance analysis, cost benefit analysis, etc.)
• Solid organizational skills, self-motivated and the ability to manage multiple tasks to maintain an efficient processing flow
• Good problem solving and decision making skills to respond to business unit (and bank) inquiries and processing issues
• Self starter with the ability to work independently
• Judgment (Ability to apply sound business principles and practices to projects)
• Flexibility to assume other area assignments in the future as the staff is periodically rotated
• Ability to work well under pressure and meet tight deadlines in a team environment
• PC experience preferred; MS Excel and Word strongly preferred, Powerpoint a plus)