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Associate - Asset & Liability Management
A&L Management
OH - Cleveland
OH001 - PNC Center - Cleveland
Full Time
As an employee of PNC Financial Services Group, you become part of an organization committed to customers, employees, investors, and the communities in which we do business. PNC is an established, growing and successful financial services company, with businesses organized around retail and commercial banking, asset management, and funds processing. Our branches are concentrated in thirteen states and the District of Columbia ; additional offices are located nationwide and internationally. We are growing in size and through recent acquisitions have become the fifth largest bank by deposits in the US .  We are also growing in reputation, as a leader in areas such as work/life family culture, "green" building design, frontier technology, and strong corporate social responsibility.
The Asset Liability Management (ALM) Group is responsible for managing the firm’s balance sheet risks.
As an Associate in ALM, you are a member of our ALM Group. You will be based in Cleveland. As a key member of the ALM Group you will be involved in some or all of the following activities: 

  • Develop an accurate representation of the firm’s balance sheet. This task would involve using ALM modeling software extensively to ensure different components of the balance sheet are loaded, represented, and modeled appropriately.

  • Analyze and document balance sheet metrics like balance’s, duration, spread sensitivity, and net income on a drill down basis to ensure accurate and consistent representation of the balance sheet.

  • Model and document the behavior of the various balance sheet items for example - loans, mortgages, and deposits. This task would involve working with other groups to ensure that the models appropriately capture the behavior of the balance sheet items.

  • Support the firm’s supervisory stress testing efforts and comprehensive capital submissions.

  • Develop and analyze projections of balance sheet, income, losses, and capital across a range of macroeconomic scenarios

  • Construct narratives and document methodologies used to develop projections of balance sheet, income, losses, and capital across scenarios

  • Understand various quantitative models and ALM modeling software to ensure different components of the stress testing activities are represented and modeled appropriately.

  • Perform detailed analysis of various scenarios to ensure accurate and consistent behavior of the balance sheet.

  • Assist in the development of an efficient and integrated workflow of the stress testing activities.

  • Collaborate with the business lines to explain the results of the stress testing and obtain their feedback

  • This position will involve significant interaction with the finance and credit groups, as well as business lines, market and operational risk, economics, and quantitative groups of the firm.

This position will also require travel to PNC's offices in   Pittsburgh, and New York.
The successful candidate will have the following qualifications: 

  • Bachelors degree required; finance, accounting or other related field.

  • Up to 2 years of related experience in a financial institution.

  • Masters degree in quantitative field is strongly preferred.

  • 5 years of professional or education experience relating to stress testing, financial modeling, and asset-liability management is preferred.

  • Knowledge of balance sheet management software systems for financial institutions is preferred and knowledge of software tools and data analysis is a requirement.

  • Successful candidates will have demonstrated the ability to understand behavioral models for stress testing, forecasting, and risk management purposes.
PNC is an Equal Employment Opportunity/Affirmative Action Employer - M/F/D/V/SO