Balance Sheet Associate

PA - Pittsburgh (15222)

Full time

R238524

** Position Overview*
* 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. The Balance Sheet Associate position is part of PNC's Finance organization and is based in Pittsburgh, PA.

This role requires working in the office on a regular basis.

PNC is seeking a highly analytical Balance Sheet Associate to join the ALM Valuations team, supporting the valuation and financial reporting of Residential Mortgage Servicing Rights (RMSR), a key balance sheet asset tied to income generated from servicing residential mortgage loans.

This role combines valuation modeling, financial reporting, and data analytics, with direct responsibility for the valuation, monitoring, and governance of a complex, high-impact balance sheet asset.

Responsibilities:
The Balance Sheet Associate position is a technical role requiring strong analytical skills to be leveraged in financial modeling of cash flows related to RMSRs. The preferred candidate will be engaged in computational valuations analyses as well as monitoring and analysis of the capitalized residential mortgage servicing rights portfolio.

 Deliver accurate and timely valuation and reporting outputs under tight reporting timelines

 Proactively identify trends or risks in portfolio performance and communicate insights to stakeholders

 Analyze and monitor the 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 the quarterly processing of new portfolio data and work 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 new developments in the residential mortgage market

 Support model governance activities including monitoring, backtesting, documentation, and interaction with model risk management, audit functions, and regulators

 Potential to cross train with broader teams within ALM Valuations including CMSR Valuations and Price Testing teams

 Perform ad hoc financial and data analysis to support RMSR valuation, portfolio monitoring, and management decision-making.

Competencies:

 Accuracy and Attention to Detail - Understanding of the necessity and value of accuracy and attention to detail; ability to process information with high levels of accuracy

 Effective Communications - Understanding effective communication concepts, tools and techniques; ability to effectively transmit, receive, and accurately interpret ideas, information, and needs through the application of appropriate communication behaviors

 Teamwork and Initiative - Motivated to learn, take initiative, and contribute to a collaborative team environment.

 Finance and Accounting - Knowledge of finance and accounting practices, valuation techniques, financial analysis, and reporting; ability to apply this knowledge appropriately to diverse situations

 Financial Reporting - Knowledge of processes, methods, and tools of financial reporting

 Hyperion/Essbase/Oracle experience helpful but not required

 Strong Microsoft Excel skills required; coding experience, including Python and VBA, helpful but not required.

Experience:

- Relevant experience, including financial reporting, financial modeling, technical skills and data…