Managing Director, MBS Portfolio Manager, Chief Investment Office (CIO)

Position Overview

Managing Director, MBS Portfolio Manager within PNC's Asset & Liability Management (ALM) organization, based in New York City (Job ID: R195173). The role reports to the Chief Investment Officer and leads the Agency Mortgage‑Backed Securities (MBS) sector, managing a broad portfolio of fixed‑income assets and derivative products.

Responsibilities

• Lead the agency MBS portion of the CIO investment portfolio.
• Enhance the investment approach using strong analytics and a deep understanding of investor dynamics and market/regulatory developments.
• Engage with MBS dealers to ensure efficient information flow and trade execution.
• Partner with portfolio analytics and modeling teams to develop robust analytics for risk measurement and relative value assessment.
• Monitor and report risk metrics and portfolio performance.
• Manage the agency MBS portfolio team, focusing on talent development.
• Monitor macro‑economic and policy developments relevant to fixed‑income markets.
• Collaborate with senior PMs and the CIO on investment strategy for the overall portfolio.
• Mentor junior talent within the CIO Investments team.

Preferred Experience / Qualifications

• 12+ years of fixed‑income portfolio management, specializing in agency MBS.
• Expertise in agency MBS valuation, risk analysis, and portfolio optimization.
• Ability to interpret market trends and translate into actionable strategies.

General Expertise

• Strong knowledge of ALM practices in a banking environment.
• Understanding of regulatory frameworks and interest‑rate risk management.
• Excellent analytical, communication, and decision‑making skills.
• Master’s degree or higher in finance, economics, engineering, or related fields.

Pay Transparency

Base Salary: $143,000.00 – $297,000.00 (incentive eligible based on performance).

Benefits

PNC offers a comprehensive range of benefits, including medical, dental, vision, life insurance, disability protection, 401(k) with PNC match, pension, stock purchase plans, dependent care reimbursement, adoption and child/elder care support, educational assistance, a robust wellness program, paid time off, maternity/parental leave, holidays, vacation days, and additional benefits for full‑time employees.

Equal Employment 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 relevant federal and state regulations.