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Corporate & Institutional Banking

Capital Markets | Development Program Details

Program Overview

The Capital Markets Development Program provides broad exposure to various business units within C&IB. Analysts experience structured development and formal classroom learning, including an intensive 8-week learning program in accounting and commercial loans to businesses in order to better understand PNC core competencies and become a well-rounded banker.

The Capital Markets track consists of the following opportunities:  

  • Asset & Liability Management
    • Balance Sheet Analytics
    • Investment Portfolio Management
    • Liquidity & Capital Management
  • Capital Markets Group
    • Derivatives, Foreign Exchange & Fixed Income Sales, Hedging and Risk Management Solutions
    • Financial Institutions Group
  • Investment Banking
    • Asset Backed Finance
    • Debt Capital Markets
    • Public Finance Capital Markets

What to Expect During the Program

The Capital Markets track is an engaging 3-year experience especially designed to equip you with the foundational and transferable skills that will enable you to navigate a successful career in banking. Analysts will master PNC’s product set to excel in analytics, credit, relationship management, sales and financial modeling.

Learn more about what to expect for each of the following tracks:

What a Typical Day Looks Like

Work flow will vary from week-to-week based on client requests and business needs. Analysts must be able to prioritize assignments to meet deadlines and be flexible to adapt as urgent needs arise. Learn More

Career Opportunities

Upon the successful completion of PNC’s Capital Markets Development Program, placement is based upon business need and individual job performance; placement is not guaranteed.

Program Duration


36

Months


Available Locations


Across PNC’s footprint, but not all opportunities within the track are available in all markets

Note: Ability to be geographically flexible upon successful completion of the program is preferred.

 

In Capital Markets Group, you will:

  • Participate in client presentations and discussions 
  • Prepare various reports for clients, trading desk and management

Within Derivatives, Foreign Exchange & Fixed Income Sales, Hedging and Risk Management Solutions groups, you will:

  • Generate and distribute daily pricing sheets for internal and external use
  • Support senior managers with daily trade execution tasks

Within Financial Institutions Group, you will:

  • Research, summarize, and present background materials to assist relationship managers in preparing for sales meetings 
  • Coordinate deal team meetings with the relationship team and product partners 
  • Assemble and publish industry news, commentary, and insights applicable to the financial services industry

In Investment Banking, you will:

  • Perform due diligence comprising intensive client research, financial modeling, pitch preparation and the development of marketing materials, including CIMs and Management Presentations
  • Communicate with the client, their representatives, and any deal-related parties regarding all aspects of the transaction
  • Execute requirements for all deal closing activities, including the completion of pricing books and summaries of sale, wire requests, and the closing of transactions 
  • Conduct portfolio analytics.

Asset & Liability Management:

  • Balance Sheet Analytics
    • Responsible for risk analytics supporting PNC's balance sheet including interest rate risk management
    • Work across the organization to manage PNC's bank stress testing efforts, including Comprehensive Capital Analysis and Review (CCAR) submissions 
    • Modeling of specific balance sheet / income statement components for use in CCAR submissions 
    • Projection of Risk Weighted Assets and associated modeling efforts for stress testing and other processes
  • Investment Portfolio Management
    • Part of the Chief Investment Office focused on “top of the house” strategies and large scale trading activities across PNC's core portfolios 
    • Responsible for managing a $75+ billion fixed income portfolio, covering 20% of the total assets of the firm • Focusing on a total return mentality, using value added strategies across the fixed income portfolio 
    • Managing a $50 billion (notional) derivatives portfolio, managing risk related to interest rates 
    • Derivative responsibilities include: dynamically trading derivatives, futures, and bonds to hedge complex risks in PNC's mortgage servicing 
    • Building and maintaining complex interest rate and credit performance models, and portfolio analytics
  • Liquidity & Capital Management
    • Centrally manage the strategy and execution of PNC's liquidity, funding, and capital management efforts across the company 
    • Optimize the firm's funding and capital position while managing to new and existing regulatory, economic, and business constraints 
    • Work across the organization to develop and execute PNC's enterprise funding plan including all debt capital markets issuance 
    • Develop and implement PNC's capital strategy, including the issuance of capital instruments and management of the share repurchase program

Capital Markets Group

  • Derivatives, Foreign Exchange & Fixed Income Sales, Hedging and Risk Management Solutions 
    • Interact directly with corporate and institutional clients, providing analysis and solutions to address interest rate and currency risk management as well as the management and investment of excess cash balances. 
  • Foreign Exchange (FX) 
    • Write daily FX market commentary and international economic analysis 
    • Execute various spot, forward, options and cross-currency swap transactions 
    • Create client facing presentations and materials 
    • Manage various FX exposure hedging tools 
  • Financial Institutions Group 
    • Join a pool of analysts to support the senior bankers who focus on both domestic and international banks, insurance companies, asset managers, and broker dealers.

Investment Banking

  • Asset Backed Finance
    • Join a team of senior bankers, who employ large quantities of capital for PNC’s clients, by executing highly structured financing solutions. 
    • Originate, structure, and underwrite securitization transactions, by leveraging cash flowing assets, across a broad array of asset classes—from trade receivables to capital commitments, equipment, and national sports media contracts.
  • Debt Capital Markets
    • Become an integral part of a team of experienced bankers delivering financial advisory and capital markets solutions to PNC’s clients 
    • Develop, propose and execute bank and non-bank financing solutions including loans, privately placed debt, high-yield bonds and investment grade bonds
  • Public Finance Capital Markets
    • Assist governments, higher education institutions, hospitals, and not-for-profits with raising capital through the issuance of municipal bonds. 
    • Learn the nuances of the municipal bond market, and develop the skills required to successfully execute complex transactions.

Preferred Areas of Study: Accounting, Business Administration, Economics, Finance, Mathematics

Desired Skills: Highly motivated, results-driven, exceptional quantitative skills, including the abilities to analyze data sets and apply financial and analytical theories. Impressive written and verbal communication skills, robust work ethic, with high attention to detail. Ability to work well in teams. Strong interpersonal skills that can be applied to sales and development of client relationships.

Minimum Requirements: Bachelor’s Degree from a 4-year school or university, 3.2 GPA.

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