ALM Associate Senior - Portfolio Management

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. Job Profile As an ALM Associate Senior – Portfolio Management within PNC's Asset Liability Management organization, you may be based in NYC or Pittsburgh, PA. The ALM Associate Senior will support PNC's Chief Investment Office, which is led by PNC's Chief Investment Officer (CIO) and manages over $200 billion in fixed‑income assets and derivative products within PNC Bank's investment securities and derivatives portfolio. The Senior Associate works directly alongside senior portfolio managers and traders to develop credit and relative‑value views, evaluate investment opportunities, conduct research, and support credit modeling across structured products portfolios. The role also supports regulatory and risk initiatives that provide meaningful exposure to bank balance sheet management and ALM strategy. We seek an analytically driven investment professional with a demonstrated commitment to deep expertise in structured credit markets. A top priority is a strong foundation in fixed‑income securities, especially 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, and 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. The candidate should also possess strong research and writing capabilities to effectively analyze, synthesize, and communicate investment insights. PNC is one of the largest banks in the United States, with domestic assets totaling $603 billion as of Q1 2026. Responsibilities Securitization Analytics – 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. Familiarity with bank securitization programs and significant risk transfer (SRT) structuring is a plus. ABS Portfolio Analytics – Develop and maintain credit and relative‑value views across the structured products portfolio. Perform ongoing collateral surveillance, spread analysis, and sector‑level performance monitoring, including analysis of underwriting trends, prepayment and default dynamics, and macroeconomic factors affecting securitized credit. Prepare analytics packages, trade recommendations, and reporting for portfolio managers and trader meetings. Support credit model review and validations. Sector Research & Communication – 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. Regulatory & Risk Support – Support regulatory reporting, capital and liquidity exercises, loss reserving (CECL), stress testing, and model validation efforts for the structured products portfolio in coordination with risk, finance, and quantitative partners. Data Infrastructure & Automation – Maintain and enhance portfolio databases, dashboards, and classification systems. Leverage Python, SQL, and generative AI tools to improve reporting accuracy, efficiency, and scalability. Qualifications 3+ years of relevant or direct industry experience, preferably a university or college degree. Strong foundation in fixed‑income securities and structured products (ABS, RMBS, CMBS, CLO). Proficiency in Python and SQL; experience with generative AI tools is highly desirable. Excellent research, analysis, and written communication skills. Knowledge of bank balance sheets, interest‑rate risk management, and regulatory frameworks for securitization is a plus. U.S. citizenship or legal status that permits employment in the United States; no sponsorship available for employment visas or STEM OPT. Preferred Skills Asset Allocation, Auditing Operations, Business Case Analyses, Credit Risk Analysis, Data Analytics, Data Visualization, Decision Making, Investments, Market Research Competencies Accuracy and Attention to Detail, Asset and Liability Management (ALM), Business Acumen, Derivatives, Effective Communications, Financial Analysis, Industry Knowledge, Investment Performance Measurement, Investment Reporting, Pricing Models and Analytics Education Bachelor’s degree required. A comparable combination of education, job‑specific certification(s), and experience (including military service) may be considered. Certifications & Licenses No specific certifications or licenses are required for this position. Compensation Base Salary: $86,250.00 – $172,500.00 (may vary by location and experience). This role is incentive eligible based on company, business, and individual performance. Benefits PNC offers a comprehensive range of benefits, including medical and prescription drug coverage with a Health Savings Account feature, dental and vision options, life insurance for employees and eligible dependents, short and long‑term disability protection, 401(k) with PNC match, pension and stock purchase plans, dependent care reimbursement account, adoption and surrogacy reimbursement, educational assistance, a robust wellness program with financial incentives, and paid time off based on eligibility. Disability Accommodations If an accommodation is required to participate in the application process, please contact us via email at View email address on click.appcast.io. Applicants may also call View phone number on click.appcast.io and say “Workday” for assistance. All information will be kept confidential and used only to provide reasonable accommodations. 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 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. #J-18808-Ljbffr PNC