Balance Sheet Associate

PNC Financial Services Group, Inc.; Pittsburgh (Allegheny County); On-site; USD 85,000 - 110,000; Full time

Job summary

PNC Financial Services Group, Inc. in Pittsburgh, PA is hiring a Balance Sheet Associate to join the ALM Valuations team.

The role focuses on valuation, financial reporting, and data analytics for Residential Mortgage Servicing Rights (RMSR), a key balance sheet asset tied to servicing income. Responsibilities include valuation outputs under tight timelines, trend analysis for portfolio performance, and governance of RMSR models.

Qualifications

• Bachelor's degree required in Finance, Accounting, Economics, or related field.
• Experience in financial reporting, financial modeling, and data analysis is preferred.
• Familiarity with RMSR valuation or mortgage servicing assets is a plus.

Responsibilities

• Deliver accurate and timely valuation and reporting outputs under tight timelines.
• 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 and maintain data automation tools supporting valuation and reporting processes.
• Support RMSR model governance, backtesting, and documentation.

Skills

Finance and accounting

Valuation techniques

Financial modeling

Data analysis

Excel proficiency

Education

Bachelor's degree in Finance, Accounting, Economics, or related field

Tools

Hyperion/Essbase/Oracle

Python

VBA

Excel

Job description

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:

• 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 analysis, desired

Education:

• 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

PNC will not provide sponsorship for employment visas or participate in STEM OPT for this position.

We encourage candidates to connect with their recruiter and hiring manager to understand workplace expectations and ensure the role aligns with their goals.

PNC is an in-office company that fosters a supportive culture where employees can thrive and achieve balance.

Leads financial analysis, conducts research and prepares reports. Performs due diligence and statistical analysis related to the Balance Sheet. Participates in stress testing efforts.

Based on own discretion, researches and collects information for PNC's Balance Sheet.

Reviews and presents risk analytics/stress testing material including documentation and templates to senior team members for federal submission.

Prepares and aggregates data for modeling activities. Reconciles and performs quality review of data.

Partners with lines of business in understanding specific line items of PNCs balance sheet and income statements.

PNC Employees take prid