ALM Associate Senior - Portfolio Management

Position Overview

As an ALM Associate Senior – Portfolio Management within PNC's Asset Liability Management organization, you may be based in NYC or Pittsburgh, PA. You will support PNC's Chief Investment Office, which manages more than $200 billion in fixed‑income assets and derivative products. The role works directly with senior portfolio managers and traders to develop credit and relative value views, evaluate investment opportunities, conduct research, and support credit modeling across structured products portfolios.

It also supports regulatory and risk initiatives related to bank balance sheet management and ALM strategy.

The ideal candidate is an analytically driven investment professional with a strong foundation in fixed‑income securities and familiarity with asset‑backed securitizations (ABS) and related structures. Experience with structured products (ABS, RMBS, CMBS, CLO), cash‑flow modeling, and broader fixed‑income principles is strongly preferred. Proficiency in Python and SQL is required; experience leveraging generative AI tools for research synthesis and workflow automation is highly desirable.

Familiarity with bank balance sheets, interest‑rate risk management, and securitization‑related regulatory frameworks is a plus. The candidate should also have strong research and writing capabilities to analyze, synthesize, and communicate investment insights.

• Securitization Analytics
  :
  Evaluate new‑issue ABS, CLO, RMBS, and CMBS transactions for potential portfolio acquisition, conducting structural analysis, collateral review, cash‑flow modeling, and relative value assessment. Recommend purchases or sales of securitized products, coordinate with portfolio managers, broker‑dealers, and rating agencies. Familiarity with SRT structuring is a plus.
• ABS Portfolio Analytics
  :
  Develop and maintain credit and relative value views across the structured products portfolio; perform collateral surveillance, spread analysis, and sector‑level performance monitoring, including underwriting trends, prepayment and default dynamics, and macroeconomic factors. Prepare analytics packages, trade recommendations, and reporting for portfolio manager meetings; support credit model review and validations.
• Sector Research & Communication
  :
  Conduct fundamental sector, market, and security‑level analysis and synthesize findings into investment recommendations and sector theses. Communicate views to portfolio managers, traders, and senior staff, collaborating internally and externally to inform portfolio strategy.
• Regulatory & Risk Support
  :
  Support regulatory reporting, capital and liquidity exercises, loss reserving (CECL), stress testing, and model validation for the structured products portfolio, coordinating with risk, finance, and quantitative partners.
• Data Infrastructure & Automation
  :
  Maintain and enhance portfolio databases, dashboards, and classification systems; leverage Python, SQL, and generative AI tools to improve reporting accuracy, efficiency, and scalability.

Roles at this level typically require a university or college degree with 3+ years of relevant industry experience. Certifications or comparable experience may be considered.

• Preferred
  
  Skills:
  • Asset Allocation
  • Auditing Operations
  • Business Case Analyses
  • Credit Risk Analysis
  • Data Analytics
  • Data Visualization
  • Decision Making
  • Investments
  • Market Research
  • Asset and Liability Management (ALM)
  • Business Acumen
  • Derivatives
  • Effective Communications
  • Financial Analysis
  • Industry Knowledge
  • Investment Performance Measurement
  • Investment Reporting
  • Pricing Models and Analytics
• Base Salary: $86,250.00 – $. Compensation may vary by location, performance, and experience.

• Medical and prescription drug coverage (with Health Savings Account feature)
• Dental and vision options
• Life insurance for employee and spouse/child
• Short‑ and long‑term disability protection
• 401(k) with PNC match, pension and stock purchase plans
• Dependent care reimbursement account and back‑up child/elder care options
• Adoption, surrogacy, and doula reimbursement
• Educational assistance (select programs fully paid)
• Wellness program with financial incentives
• Paid time off: maternity/parental leave; up to 11 holidays per year; 9 occasional absence days; 15–25 vacation days based on career level

If an accommodation is required to participate in the application process, please contact  Include “accommodation request” in the subject line, your name, the job , and preferred contact method. The information will be kept confidential and used only to provide needed accommodations.

PNC provides equal employment opportunity to qualified persons regardless of race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, veteran status, or other protected categories. This position complies with Section 19 of the FDIA and applicable state and federal duties.