Private Credit Associate

PNC • New York, NY

4d • $150,000 - $150,000

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 an Associate within PNC's Steel City Private Credit organization, you will be based in New York, NY. Steel City Private Credit is a newly launched direct lending strategy focused on both sponsored and non-sponsored middle market companies. The primary strategies include senior debt / unitranche cash-flow facilities and technology / ARR financing. The Associate will support the investment team in all aspects of the investment process, including origination, underwriting, execution, and portfolio management. This role offers a unique opportunity to join a newly formed private credit platform at an early stage, providing significant exposure to senior professionals and the ability to contribute to the development of the team’s processes and culture. Performs in-depth analytical and transactional support with legal negotiation, due diligence, underwriting and portfolio management of private credit investments activities. Partners with portfolio companies to support their financing through the entire lifecycle of the investment process. Prepare and assist with investment recommendations to senior management and investment committees. Post-close financial monitoring and analysis and business development efforts. 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.

Requirements

• 1 – 2 years of experience in investment banking, leveraged finance, private credit, or related field.
• Strong proficiency in Excel and financial modeling and analytical skills.
• Excellent written and verbal communication skills.
• Ability to manage multiple deals and deadlines in a fast-paced environment.
• High attention to detail and strong organizational skills.
• 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.
• Roles at this level typically require a university / college degree, with 3+ years of relevant / direct industry experience. Certifications are often desired.
• In lieu of a degree, a comparable combination of education, job specific certification(s), and experience (including military service) may be considered.
• Bachelors (Required)

Responsibilities

• Support the end-to-end execution of new investment opportunities and monitoring existing investments
• Evaluate investment opportunities by analyzing audits and financial statements, cash flows, credit performance, industry research, and market dynamics
• Support review of due-diligence workstreams across legal, operational, and financial reviews
• Contribute to the preparation and presentation of detailed investment materials and recommendations to the Investment Committee
• Active ongoing portfolio monitoring, including analytics, covenant tracking and borrower relationship management
• Contribute to strategic initiatives to enhance underwriting frameworks, reporting capabilities, and platform scalability

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; 8 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.
• To learn more about these and other programs, including benefits for full time and part-time employees, visit Your PNC Total Rewards.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Number of Employees: 5,001-10,000 employees