Fixed Income Trader - Buy Side

PNC Bank•Philadelphia, PA

3d•Onsite

About The Position

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. As a Fixed Income Trader within PNC's Asset Management Group organization, you will be based in Philadelphia, PA. As a Fixed Income Trader, you will work with investment team portfolio managers and interface with various external trading partners including electronic trading platforms to source investment grade fixed income securities and gauge market liquidity. The team has management and trade execution responsibility on over $22B in assets. As a buy side Fixed Income Trader, you will work both the primary and secondary offering markets to attain best execution and assist in implementing portfolio strategy. In this role, you are expected to contribute market expertise to developing security valuation as well as understand and monitor a broad array of security level trading relationships. The Fixed Income Trader role will report to the Head of PNC Fixed Income and will have a direct impact on the management and performance of the PNC Asset Management Group Fixed Income strategies. The investment process is total-return oriented with security selection as a primary driver of excess return generation.

Requirements

University / college degree, with 3+ years of relevant / direct industry experience.
Bachelors degree
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

Buy side SMA or fund fixed income trading
Tax-exempt municipal, taxable municipal, or corporate bond trading experience
Experience in sourcing securities and liquidity in fixed income markets
Exposure to or experience with fixed income electronic trading platforms
Strong verbal and electronic communication ability
Data collection and data analytic skills
Experience utilizing AI-powered tools and platforms to enhance market research, trading workflows, and investment decision-making
CFA or pursuing CFA
Business Development
Capital Markets
Change Management
Credit Risk Analysis
Database Architecture
Design Thinking
Equity Trading
Financial Derivatives
Interest Rates
Portfolio Management
Bond Trading
Client Relationship Management
Financial Analysis
Financial Services Industry
Regulatory Environment - Financial Services
Securities Laws and Regulations (SLR) Compliance
Trading

Responsibilities

Commitment to work collaboratively with a disciplined, team-based investment process
Continuously demonstrate a proactive approach to sourcing securities and gauging market liquidity
Work with market data and information to formulate appropriate security valuation
Interface and maintain relationships with broker-dealers and underwriters as well as act as a conduit between dealer counter parties and internal business stockholders
Utilize Bloomberg, portfolio and trade order management software
Partner with portfolio managers to implement investment strategies, rebalance portfolios, and manage cash flows
Communicate to a broad range of constituents including portfolio managers, analysts (credit and quantitative) and client portfolio managers
Partner with technology and data teams to identify automation opportunities and improve trading desk productivity
Executes security trading in coordination with oversight from senior traders.
Effectively manages the risk profile within all applicable limits.
Executes security transactions within assigned risk profile and makes effective, generally accepted recommendations in partnership with portfolio managers and senior strategy.
Coordinates trade strategy with portfolio manager to achieve optimal risk and return positioning.
Independently analyzes reports and identifies issues related to trade position and activity.
Monitors market conditions and manages risk.
Ensures compliance by developing knowledge of capital markets, market structure and regulatory issues.

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.