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Corporate & Institutional Banking

Capital Markets | Summer Internship Program Details

Program Overview

The Capital Markets Summer Internship allows an unparalleled opportunity to acquire basic product knowledge, perform risk management activities, and experience client relationship management practices, while gaining visibility among PNC’s senior leadership. Interns can explore the following opportunities:

  • Asset & Liability Management
  • Capital Markets Group
  • Investment Banking

What a Typical Day Looks Like

Day-to-day work includes task-oriented executional items, along with providing support for long-term strategic projects.  Work flow will vary from week to week based on client requests and business needs. Interns must be able to prioritize assignments to meet deadlines and be flexible to adapt as urgent needs arise.

Asset & Liability Management

Interns will support one of the following areas: Balance Sheet Analytics, Investment Portfolio Management and Liquidity & Capital Management. Learn More

Capital Markets Group

Interns will support one of the following areas related to sales and hedging activities: Derivatives, Foreign Exchange, Fixed Income and Financial Institutions Group. Learn More

Investment Banking

Interns will support one of the following areas: Asset Backed Finance, Debt Capital Markets and Public Finance Capital Markets. Learn More

Career Opportunities

The Summer Internship Program is a direct pipeline for talent into the Corporate & Institutional Banking (C&IB) Development Program.

Upon successful completion of the Summer Internship Program, interns may be offered an opportunity to join the C&IB Development Program after graduation.

Learn About the Development Program »

The Capital Markets track is a dynamic experience which equips participants for various analyst roles supporting Asset & Liability Management, Capital Markets Group and Investment Banking.

Investment Banking

Asset Backed Finance interns will be exposed to:

  • A team of senior bankers who employ large quantities of capital for PNC’s clients by executing highly structured financing solutions
  • Originating, structuring and underwriting 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 interns will be exposed to:

  • Assisting senior deal team members with developing, proposing and executing financing solutions
  • The due diligence process through researching, financial modeling, preparation of client pitch materials and investor information memoranda

Public Finance Capital Markets interns will be exposed to:

  • Assisting governments, higher education institutions, hospitals, and not-for-profits with raising capital through the issuance of municipal bonds
  • The nuances of the municipal bond market to develop the skills required to successfully execute complex transactions

Capital Markets Group

Interns will support one of the following areas related to sales and hedging activities: Derivatives, Foreign Exchange, Fixed Income and Financial Institutions Group. Learn More

Derivatives, Foreign Exchange and Fixed Income interns will be exposed to:

  • The analysis and solutions with corporate and institutional clients to address interest rate and currency risk management, as well as with management and investment of excess cash balances
  • Negotiations and executions of transactions with clients having exposure in the interest rate and energy (oil and natural gas) markets.
  • Currency risk management and reviews of international exposures

Financial Institutions Group interns will be exposed to:

  • Senior bankers who focus on both domestic and international banks, insurance companies, asset managers and broker dealers
  • A relationship team with the identification and execution of new business opportunities.

Asset & Liability Management

Balance Sheet Analytics interns will be exposed to:

  • Risk analytics supporting PNC’s balance sheet including interest rate risk management
  • The involvement in strategic decisions that PNC makes pertaining to issuing dividends, managing share repurchases, issuing debt, managing credit risk, managing interest rate risk, and more.
  • Working across the organization to manage PNC’s stress testing efforts
  • PNC’s Risk-Weighted Asset (RWA) platform

Investment Portfolio Management interns will be exposed to:

  • The day to day objectives and strategies around managing $75+ billion dollars of fixed income securities, covering 20% of the total assets of the firm
  • Managing $50 billion (notional) interest rate derivatives portfolio which includes dynamically trading derivatives, futures, and bonds to hedge complex risks in PNC’s mortgage servicing
  • Bond/Swap structures, portfolio analytics, credit models
  • Sector specific projects for Portfolio Managers

Liquidity & Capital Management interns will be exposed to:

  • Optimizing the firm’s funding and capital and liquidity position while managing to new and existing regulatory, economic, and business constraints
  • The strategy and execution of PNC’s enterprise funding plan, including debt capital markets issuance, and PNC’s capital strategy, including the issuance of capital instruments and management of the share repurchase program
  • Monitoring capital and liquidity trends for peer institutions

Internship Duration


10

Weeks


Available Locations


Chicago, IL; Cleveland, OH; New York, NY; Philadelphia, PA; Pittsburgh, PA


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: Undergraduate student in pursuit of a Bachelor’s Degree from a 4-year school or university, 3.2 GPA

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