Balance Sheet Associate

Balance Sheet Associate

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. 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.
• 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
• Effective Communications
• Teamwork and Initiative
• Finance and Accounting
• Financial Reporting

Experience:

• Relevant experience, including financial reporting, financial modeling, technical skills and data analysis, desired
• Bachelor's degree in Finance, Accounting, Economics, or a related field required

Location Requirement:

This position is based in Pittsburgh, PA and requires in-office presence five days per week