Balance Sheet Associate

PNC Bank•Pittsburgh, PA

3d•Onsite

About The Position

The Balance Sheet Associate is part of PNC’s Finance organization and the ALM Valuations team, based in Pittsburgh, Pennsylvania. The role supports valuation and financial reporting for Residential Mortgage Servicing Rights (RMSR), a balance-sheet asset associated with income from servicing residential mortgage loans. It combines valuation modeling, financial reporting, and data analytics, with responsibility for valuation, monitoring, and governance of the RMSR portfolio. The position requires regular in-office work, five days per week. The associate performs financial analysis, research, due diligence, statistical analysis, and reporting related to PNC’s balance sheet. The role supports stress testing, prepares and aggregates data for modeling, reviews data quality, and works with lines of business to understand balance-sheet and income-statement items. It also supports RMSR valuation and portfolio monitoring, model governance, and management decision-making. The position may include cross-training with CMSR Valuations and Price Testing teams. Candidates must have a bachelor’s degree in Finance, Accounting, Economics, or a related field. Roles at this level typically require at least two years of relevant professional experience, though a comparable combination of education, job-specific certification, and experience may be considered in lieu of a degree. Strong Microsoft Excel skills are required; Hyperion/Essbase/Oracle and Python or VBA experience are helpful but not required. PNC will not provide employment visa sponsorship or participate in STEM OPT for this position.

Requirements

Bachelor’s degree in Finance, Accounting, Economics, or a related field required; a comparable combination of education, job-specific certifications, and experience may be considered in lieu of a degree.
At least two years of relevant professional experience is typical for roles at this level; relevant experience in financial reporting, financial modeling, technical skills, and data analysis is desired.
Strong Microsoft Excel skills required.
Ability to apply finance and accounting knowledge, valuation techniques, financial analysis, and reporting practices.
Knowledge of financial reporting processes, methods, and tools.
Accuracy and attention to detail.
Effective written and verbal communication skills.
Ability to take initiative, learn, and contribute in a collaborative team environment.
Demonstrate customer focus and effectively manage risks in accordance with PNC’s Enterprise Risk Management Framework.

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.
Competencies include Asset and Liability Management (ALM), data gathering and reporting, financial analysis, financial forecasting and modeling, financial services industry knowledge, market risk, and the financial services regulatory environment.

Responsibilities

Deliver accurate and timely valuation and reporting outputs under tight reporting timelines.
Identify trends or risks in portfolio performance and communicate insights to stakeholders.
Analyze and monitor 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 quarterly processing of new portfolio data and coordinate 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 interactions with model risk management, audit functions, and regulators.
Perform ad hoc financial and data analysis for RMSR valuation, portfolio monitoring, and management decision-making.
Lead financial analysis, conduct research, and prepare reports.
Perform due diligence and statistical analysis related to the balance sheet; participate in stress testing efforts.
Research and collect information for PNC’s balance sheet.
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 and quality-review data.
Partner with lines of business to understand specific balance-sheet and income-statement line items.

Benefits

Medical and prescription drug coverage, with a Health Savings Account feature, depending on 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, depending on eligibility.
Up to 11 paid holidays each year, depending on eligibility.
Nine occasional absence days each year, unless otherwise required by law, depending on eligibility.
Between 15 and 25 vacation days each year, depending on career level and years of service.