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Position Overview

At PNC, our people are our greatest differentiator and competitive advantage in the markets we serve. We are all united in delivering the best experience for our customers. We work together each day to foster an inclusive workplace culture where all of our employees feel respected, valued and have an opportunity to contribute to the company’s success.

PNC’s CIO team is searching for an experienced portfolio management and balance sheet analytics director. As an Associate Director in ALM Investments – Portfolio Management, you will be based in New York, NY.

This is a front-office, buy-side position within the investment management arm of PNC’s bank portfolio (ALM Investments). This group manages PNC’s $175+ billion-dollar fixed income and derivatives portfolio representing over 25% of PNC Bank’s total assets. The successful candidate will be a key contributor within the ALM Investments team and work directly with senior leadership as well as PNC’s CIO.

The ideal candidate will have a well-rounded skill set that includes advanced fixed income and financial analytics, some programming and quantitative analytics, strong interpersonal skills for working within a collaborative team, and the ability to provide practical solutions for improving investment performance and risk management. The successful candidate will contribute to fixed-income portfolio analytics and attribution, forecasting and analysis of securities and swap net interest income, portfolio stress testing, as well as balance sheet management and interest rate risk management within a large bank setting. In addition, the candidate will have the opportunity to analyze banking industry trends and perform analysis among PNC’s peer group. The candidate will also gain an understanding of the various fixed income investment products that are managed by ALM Investments.

Some specific responsibilities will include:

• Become a subject matter expert with detailed understanding of all aspects fixed-income securities and swaps including underlying source data analytics/analysis, product attributes and assumptions, valuation models, forecasting methodologies, etc.

• Collaborate with internal partners such as ALM Finance and Balance Sheet management on the production of monthly securities and swaps interest income forecast and broader balance sheet forecasting / reporting.

• Assist with our portfolio stress testing efforts such as CCAR and portfolio scenario analysis.

• Develop new and add to existing Python-based tools to assist with portfolio management and interest rate risk management.

• Building and maintaining financial models and databases to assist in the day-to-day operations of the ALM Investments team.

• Reviewing research publications, annual reports, and other sources to gather, synthesize and interpret data on PNC’s peer group.

Other Specifications for the Role:

• A quantitatively focused undergraduate/graduate degree is preferred

• 5+ year of finance/banking industry experience (ideally from a finance, risk, or ALM position), with some knowledge of bank balance sheet management

• Experience with BlackRock’s Aladdin, Bloomberg, or similar fixed income risk and valuation system

• Operating knowledge of fixed income mathematics, portfolio theory, analytical models, forecasting and planning

• Strong Office skills, particularly in Excel, Word, and PowerPoint.

• Strong, clear and concise written and verbal communication skills with the ability to interact with senior management.

• Ability to work independently, prioritize multiple task, and take ownership of required duties

• Programming skills; Python, SQL and VBA preferred

• Large data management experience is a plus.

As an ALM Portfolio Management Associate Director - Independent Contributor you will be based in New York City, NY.

Job Description

• Using independent judgment and discretion, performs or may lead transaction and portfolio level analysis, conducts research and prepares reports. Performs due diligence and statistical analysis related to portfolio management.

• Utilizes a working knowledge of financial instruments for the bank's investment portfolio, including research and collection of relevant information to contribute to investment decision making process and development of investment/trading strategies.

• Develops, maintains, and utilizes management reports and new projects for management that help the Group meet their goals and directives and help establish the risk position of the organization. Using discretion, identifies problems in analytics and develops solutions. Interacts with internal/external service partners, including broker dealers and/or analytics providers, and leverages their knowledge.

• Develops, administers and performs defined processes and procedures.

• Maintains knowledge of markets and macroeconomics and may make associated recommendations. Assesses the potential impact of these on ALM and the assigned business unit.

PNC Employees take pride in our reputation and to continue building upon that we expect our employees to be:

• Customer Focused - Knowledgeable of the values and practices that align customer needs and satisfaction as primary considerations in all business decisions and able to leverage that information in creating customized customer solutions.

• Managing Risk - Assessing and effectively managing all of the risks associated with their business objectives and activities to ensure they adhere to and support PNC's Enterprise Risk Management Framework.

Qualifications

Successful candidates must demonstrate appropriate knowledge, skills, and abilities for a role. Listed below are skills, competencies, work experience, education, and required certifications/licensures needed to be successful in this position.

Preferred Skills

Asset Allocation, Auditing Operations, Business Case Analyses, Credit Risk Analysis, Data Analytics, Data Visualization, Decision Making, Investments, Market Research

Competencies

Asset and Liability Management (ALM), Business Acumen, Derivatives, Financial Analysis, Industry Knowledge, Investment Performance Measurement, Investments, Portfolio Management, Pricing Models and Analytics, Regulatory Environment - Financial Services

Work Experience

Roles at this level typically require a university / college degree, with 5+ years of industry-relevant experience. Specific certifications are often required. In lieu of a degree, a comparable combination of education, job specific certification(s), and experience (including military service) may be considered.

Education

Bachelors

Certifications

No Required Certification(s)

Licenses

No Required License(s)

Pay Transparency

Base Salary: $140,000.00 – $200,000.00

Salaries may vary based on geographic location, market data and on individual skills, experience, and education. This role is incentive eligible with the payment based upon company, business and/or individual performance.

Application Window

Generally, this opening is expected to be posted for two business days from 07/23/2024, although it may be longer with business discretion.

Benefits

PNC offers a comprehensive range of benefits to help meet your needs now and in the future. Depending on your eligibility, options for full-time employees include: medical/prescription drug coverage (with a Health Savings Account feature), dental and vision options; employee and spouse/child life insurance; short and long-term disability protection; 401(k) with PNC match, pension and stock purchase plans; dependent care reimbursement account; back-up child/elder care; adoption, surrogacy, and doula reimbursement; educational assistance, including select programs fully paid; a robust wellness program with financial incentives.

In addition, PNC generally provides the following paid time off, depending on your eligibility*: maternity and/or parental leave; up to 11 paid holidays each year; 8 occasional absence days each year, unless otherwise required by law; between 15 to 25 vacation days each year, depending on career level; and years of service.

To learn more about these and other programs, including benefits for full time and part-time employees, visit pncbenefits.com > New to PNC.

*For more information, please click on the following links:

Time Away from Work (https://www.pncbenefits.com/timeaway.html)

PNC Full-Time Benefits Summary

PNC Part-Time Benefits Summary (https://www.pncbenefits.com/ft-benefits-overview.html)

Disability Accommodations Statement

If an accommodation is required to participate in the application process, please contact us via email at AccommodationRequest@pnc.com . Please include “accommodation request” in the subject line title and be sure to include your name, the job ID, and your preferred method of contact in the body of the email. Emails not related to accommodation requests will not receive responses. Applicants may also call 877-968-7762 and say "Workday" for accommodation assistance. All information provided will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.

At PNC we foster an inclusive and accessible workplace. We provide reasonable accommodations to employment applicants and qualified individuals with a disability who need an accommodation to perform the essential functions of their positions.

Equal Employment Opportunity (EEO)

PNC provides equal employment opportunity to qualified persons regardless of race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, veteran status, or other categories protected by law.

California Residents

Refer to the California Consumer Privacy Act Privacy Notice (https://content.pncmc.com/live/pnc/aboutus/HR/Onboarding/PNC_CCPA_Privacy_Disclosure_Employee.pdf) to gain understanding of how PNC may use or disclose your personal information in our hiring practices.