Graduate Intern, Portfolio Analytics, Chief Investment Office (CIO) (Non-Campus)

PNC•New York, NY

52d•$100,000 - $170,000•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. This position is primarily based in a PNC location. Responsibilities require time in the office or in the field on a regular basis. Some responsibilities may be performed remotely, at the manager's discretion. The Chief Investment office (CIO) is looking to hire a Graduate intern for its portfolio management / analytics team. This is a front-office, buy-side position within the investment management arm of PNC’s bank portfolio (ALM Investments) and the intern will have the opportunity to work directly with senior portfolio managers. The ideal candidate will have a well-rounded skill set that includes programming/statistical aptitude, finance and fixed income knowledge, interpersonal skills for working within a team atmosphere, and the ability to provide practical solutions for improving investment performance and risk management. The successful candidate will have an opportunity to develop an in-depth knowledge of portfolio analytics and fixed-income attribution, bank portfolio management, and portfolio stress testing. The candidate will also gain an understanding in a subset of the various fixed income investment products that are managed by ALM Investments. This potential list includes (but not limited to): treasuries, mortgage-backed securities, commercial mortgage-backed securities, asset-backed securities, CLOs, corporate bonds, municipals, and swaps. The position is based in New York City and is fully in office. Job Responsibilities: As an intern, the candidate will participate in the many activities of the portfolio management / analytics team. These include: • Analytics o Risk measurement: Produce and analyze portfolio risk and return metrics to manage risk and inform buy/sell decisions o Performance attribution: Explain portfolio performance in terms of underlying risk attributes: level and shape of yield curve, volatility, spreads etc o Portfolio evolution: Project the evolution of the portfolio in order to plan for future portfolio actions • Tools: develop new and add to existing Python-based tools to assist with portfolio management • Collaborate with internal partners such as ALM Finance and Balance Sheet management on the production of monthly interest income forecasts and balance sheet reporting. Qualifications We are looking for a candidate with the following: • Working toward a graduate degree in a quantitatively focused program e.g. Financial Engineering, Computer Science, Operations Research • Coursework in fixed income mathematics. Detailed knowledge of specific asset classes such as US treasuries, interest swaps, Agency MBS, and private label securities is preferred but not required. • Programming skills: Experience with a core programming languages e.g. Python, R • Strong written and verbal communication skills with the ability to interact with senior management. • Strong Office skills, particularly in Excel, Word, and PowerPoint. • Ability to work independently, prioritize multiple tasks, and take ownership of required duties Work eligibility The candidate must be eligible to work in the US. PNC does not provide sponsorship for work visas or for permanent residency. PNC 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 Participates as an intern performing various functions within a line of business. Performs or assists with the core activities of the group by applying knowledge learned to drive business results (e.g. deal, sales, or process support, internal or external customer interaction or supporting internal projects). Works under supervision and may have limited approval and/or exception authority. Participates in social learning within the organization (e.g. identifies and networks with business representatives and peers, participates in mentoring, job shadowing and community outreach) 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/licensures needed to be successful in this position. Competencies Accuracy and Attention to Detail, Analytical Thinking, Effective Communications, Flexibility and Adaptability, Information Capture, Initiative, Products and Services, Self-Directed Growth and Development Work Experience Roles at this level are filled by recent university / college graduates with little or no professional experience, but possessing relevant skills. Includes individuals joining the organization through a Corporate development/ training program. In lieu of a degree, a comparable combination of education, job specific certification(s), and experience (including military service) may be considered.

Requirements

Working toward a graduate degree in a quantitatively focused program e.g. Financial Engineering, Computer Science, Operations Research
Coursework in fixed income mathematics. Detailed knowledge of specific asset classes such as US treasuries, interest swaps, Agency MBS, and private label securities is preferred but not required.
Programming skills: Experience with a core programming languages e.g. Python, R
Strong written and verbal communication skills with the ability to interact with senior management.
Strong Office skills, particularly in Excel, Word, and PowerPoint.
Ability to work independently, prioritize multiple tasks, and take ownership of required duties

Nice To Haves

Detailed knowledge of specific asset classes such as US treasuries, interest swaps, Agency MBS, and private label securities is preferred but not required.

Responsibilities

Risk measurement: Produce and analyze portfolio risk and return metrics to manage risk and inform buy/sell decisions
Performance attribution: Explain portfolio performance in terms of underlying risk attributes: level and shape of yield curve, volatility, spreads etc
Portfolio evolution: Project the evolution of the portfolio in order to plan for future portfolio actions
develop new and add to existing Python-based tools to assist with portfolio management
Collaborate with internal partners such as ALM Finance and Balance Sheet management on the production of monthly interest income forecasts and balance sheet reporting.

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.

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