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About the Role

The ALM Associate Senior will support PNC's Chief Investment Office, managing over $200 billion in fixed income assets and derivative products. This role involves developing credit and relative value views, evaluating investment opportunities, conducting research, and supporting credit modeling. It also supports regulatory and risk initiatives, offering exposure to bank balance sheet management and ALM strategy.

Responsibilities

Evaluate new-issue ABS, CLO, RMBS, and CMBS transactions for potential portfolio acquisition, including structural analysis, collateral review, cash flow modeling, and relative value assessment.
Analyze and recommend potential purchases and sales of securitized products to enhance portfolio performance.
Coordinate with portfolio managers, broker-dealers, and rating agencies to support investment decision-making.
Develop and maintain credit and relative value views across the structured products portfolio.
Perform ongoing collateral surveillance, spread analysis, and sector-level performance monitoring.
Prepare analytics packages, trade recommendations, and reporting for portfolio managers and trader meetings.
Support credit model review and validations.
Conduct fundamental sector, market, and security-level analysis and synthesize findings into well-researched investment recommendations and sector theses.
Communicate views clearly to portfolio managers, traders, and senior staff, collaborating across internal and external stakeholders to inform portfolio strategy.
Support regulatory reporting, capital and liquidity exercises, loss reserving (CECL), stress testing, and model validation efforts for the structured products portfolio.
Maintain and enhance portfolio databases, dashboards, and classification systems.
Leverage Python, SQL, and generative AI tools to improve reporting accuracy, efficiency, and scalability.
Perform transaction and portfolio level analysis, conduct research and prepare reports.
Perform due diligence and statistical analysis related to portfolio management.
Utilize a working knowledge of financial instruments for the bank's investment portfolio, including research and collection of relevant information.
Develop and maintain management reports that help the Group meet their goals and directives.
Identify problems in analytics and develop solutions.
Interact with internal/external service partners, including broker dealers and/or analytics providers, and leverage their knowledge.
Administer and perform defined processes and procedures.
Maintain knowledge of markets and macroeconomics.
Assess the potential impact of markets and macroeconomics on ALM and the assigned business unit.

Requirements

Analytically driven investment professional with a demonstrated commitment to developing deep expertise in structured credit markets.
Strong foundation in fixed income securities, with particular emphasis on familiarity with Asset-Backed Securitizations (ABS) and related structures.
Working knowledge of structured products (ABS, RMBS, CMBS, CLO), cash flow modeling, and broader fixed income principles is strongly preferred.
Proficiency in Python and SQL is preferred.
Experience leveraging generative AI tools for research synthesis and workflow automation is highly desirable.
Familiarity with bank balance sheets, interest rate risk management, and securitization-related regulatory frameworks is considered a plus.
Strong research and writing capabilities to effectively analyze, synthesize, and communicate investment insights.
Familiarity with bank securitization programs and significant risk transfer (SRT) structuring is a plus.
Roles at this level typically require a university / college degree, with 3+ years of relevant / direct industry experience.
In lieu of a degree, a comparable combination of education, job specific certification(s), and experience (including military service) may be considered.
Successful candidates must demonstrate appropriate knowledge, skills, and abilities for a role.

Skills

Asset Allocation
Auditing Operations
Business Case Analyses
Credit Risk Analysis
Data Analytics
Data Visualization
Decision Making
Investments
Market Research
Asset and Liability Management (ALM)
Business Acumen
Derivatives
Effective Communications
Financial Analysis
Industry Knowledge
Investment Performance Measurement
Investment Reporting
Pricing Models and Analytics
Python
SQL
Generative AI tools

Location

NYC
Pittsburgh, PA

Work Type

In-office

Experience Level

3+ years of relevant / direct industry experience

Education Level

Bachelors

Salary/Compensations

$86,250.00 – $172,500.00

Benefits

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
Robust wellness program with financial incentives
Maternity and/or parental leave
Up to 11 paid holidays each year
9 occasional absence days each year
Between 15 to 25 vacation days each year, depending on career level and years of service

About the Company

PNC is one of the largest banks in the US based on domestic assets, which totaled $603 billion as of Q1 2026.
For nearly 160 years, PNC has strived to make a meaningful impact for our employees, customers, communities, and shareholders.
We believe our success and positive reputation are built on open and honest dialogue, an unwavering focus on smart risk management, relationship-based customer service and community investments.
Our inclusive workplace allows our employees to be heard, valued, and developed to do their best work.
Being a great place to work means we are making a lasting difference for everyone we serve.

Equal Opportunity

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.
This position is subject to the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA) and, for any registered role, the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) and/or the Financial Industry Regulatory Authority (FINRA), which prohibit the hiring of individuals with certain criminal history.
California Residents Refer to the California Consumer Privacy Act Privacy Notice to gain understanding of how PNC may use or disclose your personal information in our hiring practices.