Balance Sheet Associate

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. The Balance Sheet Associate position is part of PNC's Finance organization and is based in Pittsburgh, PA. This role requires working in the office on a regular basis.

PNC is seeking a highly analytical Balance Sheet Associate to join the ALM Valuations team, supporting the valuation and financial reporting of Residential Mortgage Servicing Rights (RMSR), a key balance sheet asset tied to income generated from servicing residential mortgage loans.

This role combines valuation modeling, financial reporting, and data analytics, with direct responsibility for the valuation, monitoring, and governance of a complex, high-impact balance sheet asset.

Responsibilities: The Balance Sheet Associate position is a technical role requiring strong analytical skills to be leveraged in financial modeling of cash flows related to RMSRs. The preferred candidate will be engaged in computational valuations analyses as well as monitoring and analysis of the capitalized residential mortgage servicing rights portfolio.

 Deliver accurate and timely valuation and reporting outputs under tight reporting timelines

 Proactively identify trends or risks in portfolio performance and communicate insights to stakeholders

 Analyze and monitor the daily fair value of RMSR assets, including P&L attribution and risk reporting

 Develop, maintain, and enhance data automation tools supporting valuation and reporting processes

 Support analysis and monitoring of RMSR model assumptions

 Support the quarterly processing of new portfolio data and work with external vendors to load new portfolio positions into production

 Support analysis related to RMSR acquisition and bidding activities

 Partner with lines of business to understand servicing trends and new developments in the residential mortgage market

 Support model governance activities including monitoring, backtesting, documentation, and interaction with model risk management, audit functions, and regulators

 Potential to cross train with broader teams within ALM Valuations including CMSR Valuations and Price Testing teams

 Perform ad hoc financial and data analysis to support RMSR valuation, portfolio monitoring, and management decision-making.

Competencies:

 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

 Effective Communications - Understanding 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

 Teamwork and Initiative - Motivated to learn, take initiative, and contribute to a collaborative team environment.

 Finance and Accounting - Knowledge of finance and accounting practices, valuation techniques, financial analysis, and reporting; ability to apply this knowledge appropriately to diverse situations

 Financial Reporting - Knowledge of processes, methods, and tools of financial reporting

 Hyperion/Essbase/Oracle experience helpful but not required

 Strong Microsoft Excel skills required; coding experience, including Python and VBA, helpful but not required.

Experience:

• Relevant experience, including financial reporting, financial modeling, technical skills and data analysis, desired

Education:

• Bachelor’s degree in Finance, Accounting, Economics, or a related field required

Location Requirement:

• This position is based in Pittsburgh, PA and requires in-office presence five days per weekPNC is an in-office company that fosters a supportive culture where employees can thrive and achieve balance. We encourage candidates to connect with their recruiter and hiring manager to understand workplace expectations and ensure the role aligns with their goals.PNC will not provide sponsorship for employment visas or participate in STEM OPT for this position.

Job Description

• Leads financial analysis, conducts research and prepares reports. Performs due diligence and statistical analysis related to the Balance Sheet. Participates in stress testing efforts.
• Based on own discretion, researches and collects information for PNC's Balance Sheet.
• Reviews and presents risk analytics/stress testing material including documentation and templates to senior team members for federal submission.
• Prepares and aggregates data for modeling activities. Reconciles and performs quality review of data.
• Partners with lines of business in understanding specific line items of PNCs balance sheet and income statements.

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/licensuresneeded to be successful in this position.

Preferred Skills

Budget Management, Cash Flow Statements, Credit Risk Analysis, Generally Accepted Accounting Principles (GAAP), Managerial Finance, Oracle Hyperion Enterprise, Public Accounting, Revenue Recognition

Competencies

Accuracy and Attention to Detail, Asset and Liability Management (ALM), Data Gathering and Reporting, Effective Communications, Financial Analysis, Financial Forecasting and Modeling, Financial Services Industry, Market Risk, Regulatory Environment - Financial Services

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.

Education

Bachelors

Certifications

No Required Certification(s)

Licenses

No Required License(s)

Language Assessments

No Required or Preferred Language Assessments

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; 9 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 pncthrive.com.

Disability Accommodations Statement

If an accommodation is required to participate in the application process, please contact us via email at [email protected]. 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.

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.