Balance Sheet Associate

PNC; United States; On-site; USD 70,000 - 110,000; Full time

Benefits offered by this job

Medical coverage

Dental coverage

Vision coverage

401(k) with company match

Stock purchase plan

Paid holidays

Job summary

PNC Financial Services Group, Inc. is hiring a Balance Sheet Associate for the ALM Valuations team in Pittsburgh, PA. The role focuses on valuation modeling, financial reporting, and data analytics for Residential Mortgage Servicing Rights (RMSR).

It requires in-office presence five days a week and strong analytical skills. You will deliver valuation outputs, monitor RMSR portfolios, and support governance with model risk, analytics, and external vendors.

Qualifications

• Bachelor's degree in Finance, Accounting, Economics, or a related field.
• 2+ years of relevant professional experience in financial reporting, modeling, and data analysis.

Responsibilities

• Deliver accurate and timely valuation and reporting outputs under tight timelines.
• Analyze daily fair value of RMSR assets and provide P&L attribution and risk reporting.
• Develop and enhance data automation tools supporting valuation and reporting processes.
• Support RMSR model governance, including backtesting and documentation.

Skills

Python

VBA

Attention to detail

Financial analysis

Education

Bachelor's degree in Finance/Accounting/Economics

Tools

Hyperion/Essbase/Oracle

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:

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

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

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

Job Description

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.

Qualifications

Successful candidates must demonstrate appropriate knowledge, skills, and abilities for a role. Listed below are skills, competencies, work experience, education, and required certifications/licensures needed to be successful in this position.

Preferred Skills

Budget Management, Cash Flow Statements, Credit Risk Analysis, Generally Accepted Accounting Principles (GAAP), Managerial Finance, Oracle Hyperion Enterprise, Public Accounting, Revenue Recognition

Competencies

Accuracy and Attention to Detail, Asset and Liability Management (ALM), Data Gathering and Reporting, Effective Communications, Financial Analysis, Financial Forecasting and Modeling, Financial Services Industry, Market Risk, Regulatory Environment - Financial Services

Work Experience

Roles at this level typically require a university / college degree, with 2+ years of relevant professional experience.

In lieu of a degree, a comparable combination of education, job specific certification(s), and experience (including military service) may be considered.

Education

Education Bachelors Certifications No Required Certification(s) Licenses No Required License(s) Language Assessments No Required or Preferred Language Assessments

Benefits

• medical/prescription drug coverage (with a Health Savings Account feature)
• dental and vision options
• employee and spouse/child life insurance
• short and long-term disability protection
• 401(k) with PNC match, pension and stock purchase plans
• dependent care reimbursement account
• back-up child/elder care
• adoption, surrogacy, and doula reimbursement
• educational assistance, including select programs fully paid
• a robust wellness program with financial incentives
• maternity and/or parental leave
• up to 11 paid holidays each year
• 9 occasional absence days each year, unless otherwise required by law
• between 15 to 25 vacation days each year, depending on career level
• years of service

To learn more about these and other programs, including benefits for full time and part-time employees, visit pncthrive.com.

Disability Accommodations Statement

If an accommodation is required to participate in the application process, please contact us via email at [e-mail]. Please include "accommodation request" in the subject line title and be sure to include your name, the job ID, and your preferred method of contact in the body of the email. Emails not related to accommodation requests will not receive responses. Applicants may also call 877-968-7762 and say "Workday" for accommodation assistance. All information provided will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.

Equal Employment Opportunity (EEO)

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 categories protected by law. This position is subject to the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA) and, for any registered role, the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) and/or the Financial Industry Regulatory Authority (FINRA), which prohibit the hiring of individuals with certain criminal history.

California Residents

Refer to the California Consumer Privacy Act Privacy Notice to gain understanding of how PNC may use or disclose your personal information in our hiring practices.

For nearly 160 years, PNC has strived to make a meaningful impact for our employees, customers, communities, and shareholders. We believe our success and positive reputation are built on open and honest dialogue, an unwavering focus on smart risk management, relationship-based customer service and community investments. Our inclusive workplace allows our employees to be heard, valued, and developed to do their best work. Being a great place to work means we are making a lasting difference for everyone we serve.

Check out the top reasons to join PNC. PNC’s total rewards package includes things like time off, benefits, learning and career development, wellness programs, recognition and much more. The benefits and programs highlighted below are just a sampling of what PNC offers its employees. To learn more, visit our Total Rewards page.