ALM Senior Associate, Economic Scenario Design
About The Position
As an ALM Senior Associate, Economic Scenario Design within PNC's CIO Economics team, you will be based in New York City, NY. In this role you will join PNC's CIO-Economics team and play a key role in developing the bank's baseline economic outlook and alternative macroeconomic scenarios. These scenarios support critical risk management and regulatory processes, including CECL reserve estimation and CCAR stress testing, as well as broader scenario analysis across the enterprise. Working closely with fellow economists and senior stakeholders, the role combines macroeconomic forecasting, scenario design, quantitative analysis, and economic research to assess emerging risks and inform decision-making throughout the organization. The ideal candidate is an analytically driven economist with demonstrated experience developing economic forecasts and alternative scenarios using large-scale macroeconomic models. The successful candidate will possess a deep understanding of macroeconomic data, economic theory, and forecasting techniques, and will be able to translate complex economic developments into coherent baseline and risk scenarios. Experience supporting CECL, CCAR, DFAST, stress testing, or other regulatory forecasting exercises is highly desirable but not required. The candidate should also possess strong research and writing capabilities to effectively analyze, synthesize, and communicate economic insights.
Requirements
- Bachelors degree
- 3+ years of relevant / direct industry experience
- 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.
Nice To Haves
- Master's degree or Ph.D. in Economics, Econometrics, or a related quantitative field.
- 5+ years of experience in macroeconomic forecasting, scenario design, stress testing, or economic research.
- Experience with macroeconomic forecasting platforms such as Moody's Analytics, Oxford Economics, or similar modeling frameworks.
- Strong quantitative and statistical skills.
- Proficiency with Python, R, MATLAB, EViews, or similar analytical tools.
- Excellent written and verbal communication skills.
- Experience communicating economic forecasts and risk scenarios to technical and non-technical audiences.
- Experience supporting CECL, CCAR, DFAST, stress testing, or other regulatory forecasting exercises is highly desirable but not required.
- Asset Allocation
- Auditing Operations
- Business Case Analyses
- Credit Risk Analysis
- Data Analytics
- Data Visualization
- Decision Making
- Investments
- Market Research
- Asset and Liability Management (ALM)
- Derivatives
- Financial Analysis
- Industry Knowledge
- Investment Performance Measurement
- Investment Reporting
- Pricing Models and Analytics
Responsibilities
- Develop and maintain PNC's baseline macroeconomic forecast, incorporating new economic data, market developments, and evolving economic risks.
- Design and deliver quarterly CECL scenarios to support portfolio reserve estimation and regulatory compliance.
- Develop and maintain stress scenarios aligned with the Federal Reserve's CCAR framework and supervisory expectations.
- Respond to ad hoc scenario requests from business partners and senior management to assess potential macroeconomic and financial market risks.
- Conduct research on macroeconomic trends, emerging risks, and forecasting methodologies to enhance scenario design and economic analysis.
- Present economic views, forecasts, and scenario results to stakeholders across risk management, finance, and executive leadership.
- Performs transaction and portfolio level analysis, conducts research and prepares reports.
- Performs due diligence and statistical analysis related to portfolio management.
- Utilizes a working knowledge of financial instruments for the bank's investment portfolio, including research and collection of relevant information.
- 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.
- Using discretion, identifies problems in analytics and develops solutions.
- Interacts with internal/external service partners, including broker dealers and/or analytics providers, and leverages their knowledge.
- Administers and performs defined processes and procedures.
- Maintains knowledge of markets and macroeconomics. Assesses the potential impact of these on ALM and the assigned business unit.
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
- a robust wellness program with financial incentives
- 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
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What This Job Offers
Job Type
Full-time
Career Level
Senior
