Balance Sheet Associate

PNC•Pittsburgh, PA

5d•Onsite

About The Position

The Balance Sheet Associate is part of PNC’s Finance organization and its ALM Valuations team, based in Pittsburgh, Pennsylvania. The role supports the valuation and financial reporting of Residential Mortgage Servicing Rights (RMSR), a balance-sheet asset associated with income from servicing residential mortgage loans. It combines valuation modeling, financial reporting, data analytics, portfolio monitoring, and governance. The position requires regular in-office work, five days per week. The associate conducts financial analysis, research, due diligence, and statistical analysis related to PNC’s balance sheet, and participates in stress-testing efforts. The role includes preparing and reviewing risk analytics and stress-testing materials for senior team members and federal submission, preparing and reconciling data for modeling, and partnering with lines of business to understand balance-sheet and income-statement items. The successful candidate is expected to apply strong analytical and communication skills, attention to detail, and a collaborative, risk-aware approach.

Requirements

Bachelor’s degree in Finance, Accounting, Economics, or a related field is required.
Strong Microsoft Excel skills are required.
Relevant experience in financial reporting, financial modeling, technical skills, and data analysis is desired.
Roles at this level typically require a university or college degree and 2+ years of relevant professional experience; a comparable combination of education, job-specific certifications, and experience may be considered in lieu of a degree.
Demonstrate accuracy and attention to detail, effective communication, teamwork, initiative, and knowledge of finance, accounting, financial reporting, valuation, and financial analysis.
Assess and manage risks associated with business objectives and activities in support of PNC’s Enterprise Risk Management Framework.
Must be able to work in the Pittsburgh office five days per week.
PNC will not provide employment visa sponsorship or participate in STEM OPT for this position.

Nice To Haves

Experience with Hyperion, Essbase, or Oracle.
Coding experience, including Python and VBA.
Preferred skills include budget management, cash flow statements, credit risk analysis, GAAP, managerial finance, Oracle Hyperion Enterprise, public accounting, and revenue recognition.
Knowledge of asset and liability management, data gathering and reporting, financial analysis, financial forecasting and modeling, the financial services industry, market risk, and the financial-services regulatory environment.

Responsibilities

Deliver accurate and timely RMSR valuation and reporting outputs under tight reporting timelines.
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 for valuation and reporting processes.
Support analysis and monitoring of RMSR model assumptions.
Support 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 developments in the residential mortgage market.
Support model governance activities, including monitoring, backtesting, documentation, and interaction with model risk management, audit functions, and regulators.
Perform ad hoc financial and data analysis for RMSR valuation, portfolio monitoring, and management decision-making.
Conduct financial analysis, research, due diligence, and statistical analysis related to the balance sheet; participate in stress-testing efforts.
Review and present risk analytics and stress-testing materials, including documentation and templates, to senior team members for federal submission.
Prepare and aggregate data for modeling activities; reconcile data and perform quality reviews.
Partner with lines of business to understand specific balance-sheet and income-statement line items.
Potentially cross-train with broader ALM Valuations teams, including CMSR Valuations and Price Testing teams.

Benefits

Medical and prescription drug coverage, including a Health Savings Account feature, subject to eligibility.
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 and elder care.
Adoption, surrogacy, and doula reimbursement.
Educational assistance, including select fully paid programs.
Wellness program with financial incentives.
Maternity and/or parental leave, subject to eligibility.
Up to 11 paid holidays each year, subject to eligibility.
Nine occasional absence days each year, unless otherwise required by law, subject to eligibility.
Between 15 and 25 vacation days per year, depending on career level and years of service, subject to eligibility.