Asset & Liability Management Associate- Portfolio Management - Chief Investment Office - R144807

PNC | Pittsburgh, PA

Posted Date 10/04/2023
Description 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. The Chief Investment Office oversees the daily strategies and objectives around managing $130+ billion of fixed income securities and $45 billion notional of interest rate swaps/derivatives. The team utilizes and produces advanced analytics and various credit and interest rate models to monitor interest rate risk, including mortgage serving rights, and credit risk of its holdings across several fixed income sectors.Portfolio Management & Hedging team is part of the Chief Investment Office focused on "top of the house" strategies and large-scale trading activities across PNC's core portfolio.Team members build an expertise in different fixed income sectors and/or derivatives as well as the analytics and models that aide in the management of these portfolios.As an Asset and Liability Associate within PNC's Chief Investment Office organization, you will be based in Pittsburgh, PA.Preferred Skills:Fixed Income Products knowledge CMBS a plus)Reporting and presentation skills (Powerpoint)Basic Analytics experience, SQL, Python a plus

Job Description

  • The associate would support the Agency Commercial Mortgage Backed Securities (CMBS) book, credit models, risk weighted asset measurement & forecasting/other regulatory times
  • Using independent judgment and discretion, assists in performing transaction and portfolio level analysis, conducting research and preparing reports. Performs due diligence and statistical analysis related to portfolio management.
  • Analyzes and understands financial instruments for the bank's investment portfolio, including research and collection of relevant information based on independent judgment.
  • Develops and maintains management reports that help the group meet their goals and directives. These reports are used for internal management to help establish the risk position of the organization.
  • Administers and performs defined processes and procedures.
  • Develops a practical understanding of markets and macroeconomics to be used in analysis of the ALM function.

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.


Accuracy and Attention to Detail – Understanding of the necessity and value of accuracy and attention to detail; ability to process information with high levels of accuracy.Asset and Liability Management (ALM) – Knowledge of asset and liability tools, techniques and business practices; ability to manage, measure, and monitor risks associated with assets and liabilities.Business Acumen – Knowledge, insight, and understanding of business concepts, tools, and processes that are needed for making sound decisions in the context of the company's business; ability to apply this knowledge appropriately to diverse situations.Derivatives – Knowledge of the structure, attributes, uses, terminology and processing of basic derivatives, and ability to use them appropriately.Effective Communications – Understanding of effective communication concepts, tools and techniques; ability to effectively transmit, receive, and accurately interpret ideas, information, and needs through the application of appropriate communication behaviors.Financial Analysis – Knowledge of and ability to read, interpret and draw accurate conclusions from financial and numerical material.Industry Knowledge – Knowledge of the organization's industry group, trends, directions, major issues, regulatory considerations, and trendsetters; ability to apply this knowledge appropriately to diverse situations.Investment Performance Measurement – Knowledge of and ability to utilize a variety of methods to measure the investment performance on a particular portfolio against industry benchmarks and related parameters.Investment Reporting – Knowledge of and ability to use methods, processes, and tools for creating and maintaining accurate and thorough investment reports.Pricing Models and Analytics – Knowledge of pricing tools, techniques and methods; ability to assess analytical and pricing models through the use of statistical principles.

Work Experience

Roles at this level typically require a university / college degree, with 2+ years of relevant professional experience. In lieu of a degree, a comparable combination of education, job specific certification(s), and experience (including military service) may be considered.



Additional Job Description


PNC offers employees 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; maternity and parental leave; paid holidays, vacation days and occasional absence time; 401(k), pension and stock purchase plans; dependent care reimbursement account; back-up child/elder care; adoption assistance; educational assistance and a robust wellness program with financial incentives. To learn more about these and other programs, including benefits for part-time employees, visit > New to PNC.

Disability Accommodations Statement:

If an accommodation is required to participate in the application process, please contact us via email at 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 select Option 4: Recruiting 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 to gain understanding of how PNC may use or disclose your personal information in our hiring practices.

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