Graduate Intern, Modeling, Chief Investment Office (CIO) (Non-Campus)

PNC Financial Services Group, Inc.; New York (NY); On-site; USD 63,000 - 105,000; Full time

Benefits offered by this job

Health benefits

401(k) match

Paid holidays

Job summary

PNC Financial Services Group, Inc. in New York City seeks a Graduate Intern in Modeling within the Chief Investment Office.

This in-office program targets PhD and Master's students in economics, finance, econometrics, statistics, or applied math nearing graduation, focusing on econometric research and real-world financial challenges. The role requires strong analytical skills, experience with empirical research, and proficiency in Python.

Qualifications

• PhD or Master's student nearing graduation.
• Strong training in econometrics, empirical finance, statistics, or quantitative economics.
• Proficiency in Python and experience working with large datasets.

Responsibilities

• Conducting empirical research on customer behavior and fixed income markets using large financial and economic datasets.
• Developing and enhancing econometric, statistical, and predictive models for deposits, mortgage prepayments, fixed income securities, and interest rate risk measurement.
• Designing analytical frameworks that quantify balance sheet optionality and support portfolio and risk management decisions.
• Presenting research findings and investment insights to quantitative, risk, and business stakeholders.

Skills

Python

Data analysis

Education

PhD (preferred) or Master's student

Tools

Python

Job description

Position Overview

Position Overview At PNC, our people are our greatest differentiator and competitive advantage in the market 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. As a Graduate Intern, Modeling with PNC’s Chief Investment Office organization, you will be based in New York City, NY. 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

The PNC CIO Quantitative Modeling team develops models and analytics for deposit behavior, mortgage products, and firm’s investment portfolio. The team applies economics, finance, and data-driven research to quantify interest rate risk, and support investment and balance sheet management decisions. We are seeking PhD and Master's students in Economics, Finance, Econometrics, Statistics, Applied Mathematics, or related quantitative disciplines who are nearing graduation. This internship is designed for candidates with strong econometric and empirical research training who want to apply quantitative methods to real-world financial and economic challenges. Successful candidates will have a strong analytical background and experience conducting empirical research using economic and financial data. This position is based in New York City and requires full-time, in-office participation. PNC will not provide sponsorship for employment visas or participate in STEM OPT for this position.

Job Responsibilities

• Conducting empirical research on customer behavior, fixed income markets using large financial and economic datasets.
• Developing and enhancing econometric, statistical, and predictive models for deposits, mortgage prepayments, fixed income securities, and interest rate risk measurement.
• Designing analytical frameworks that quantify balance sheet optionality and supporting portfolio and risk management decisions.
• Presenting research findings and investment insights to quantitative, risk, and business stakeholders.

Qualifications

• PhD (preferred) or Master's student graduating within the next 12 months.
• Strong training in econometrics, empirical finance, statistics, or quantitative economics.
• Proficiency in Python and experience working with large datasets.
• Demonstrated research experience through dissertations, publications, working papers, or research assistantships.

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. Competencies Accuracy and Attention to Detail, Analytical Thinking, Effective Communications, Flexibility and Adaptability, Information Capture, Initiative, Products and Services, Self-Directed Growth and Development Work Experience Roles at this level are filled by recent university / college graduates with little or no professional experience, but possessing relevant skills. Includes individuals joining the organization through a Corporate development/ training program. In lieu of a degree, a comparable combination of education, job specific certification(s), and experience (including military service) may be considered.

Pay Transparency

Base Salary: $63,000.00 – $105,000.00 Salaries may vary based on geographic location, market data and on individual skills, experience, and education.

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; and 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. At PNC we foster an inclusive and accessible workplace. We provide reasonable accommodations to employment applicants and qualified individuals with a disability who need an accommodation to perform the essential functions of their positions.

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.