Fixed Income Trader - Buy Side

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. As a Fixed Income Trader within PNC's Asset Management Group organization, you will be based in Philadelphia, PA.

As a Fixed Income Trader, you will work with investment team portfolio managers and interface with various external trading partners including electronic trading platforms to source investment grade fixed income securities and gauge market liquidity. The team has management and trade execution responsibility on over $22B in assets. As a buy side Fixed Income Trader, you will work both the primary and secondary offering markets to attain best execution and assist in implementing portfolio strategy. In this role, you are expected to contribute market expertise to developing security valuation as well as understand and monitor a broad array of security level trading relationships. The Fixed Income Trader role will report to the Head of PNC Fixed Income and will have a direct impact on the management and performance of the PNC Asset Management Group Fixed Income strategies. The investment process is total-return oriented with security selection as a primary driver of excess return generation.

Responsibilities include:

• Commitment to work collaboratively with a disciplined, team-based investment process
• Continuously demonstrate a proactive approach to sourcing securities and gauging market liquidity
• Work with market data and information to formulate appropriate security valuation
• Interface and maintain relationships with broker-dealers and underwriters as well as act as a conduit between dealer counter parties and internal business stockholders
• Utilize Bloomberg, portfolio and trade order management software
• Partner with portfolio managers to implement investment strategies, rebalance portfolios, and manage cash flows
• Communicate to a broad range of constituents including portfolio managers, analysts (credit and quantitative) and client portfolio managers
• Partner with technology and data teams to identify automation opportunities and improve trading desk productivity

Preferred experience/skills:

• Buy side SMA or fund fixed income trading
• Tax-exempt municipal, taxable municipal, or corporate bond trading experience
• Experience in sourcing securities and liquidity in fixed income markets
• Exposure to or experience with fixed income electronic trading platforms
• Strong verbal and electronic communication ability
• Data collection and data analytic skills
• Experience utilizing AI-powered tools and platforms to enhance market research, trading workflows, and investment decision-making
• CFA or pursuing CFA

Job Description

• Executes security trading in coordination with oversight from senior traders. Effectively manages the risk profile within all applicable limits.
• Executes security transactions within assigned risk profile and makes effective, generally accepted recommendations in partnership with portfolio managers and senior strategy. Coordinates trade strategy with portfolio manager to achieve optimal risk and return positioning.
• Independently analyzes reports and identifies issues related to trade position and activity. Monitors market conditions and manages risk.
• Ensures compliance by developing knowledge of capital markets, market structure and regulatory issues.

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

• Business Development, Capital Markets, Change Management, Credit Risk Analysis, Database Architecture, Design Thinking, Equity Trading, Financial Derivatives, Interest Rates, Portfolio Management

Competencies

• Bond Trading, Client Relationship Management, Financial Analysis, Financial Services Industry, Regulatory Environment - Financial Services, Securities Laws and Regulations (SLR) Compliance, Trading

Work Experience

Roles at this level typically require a university / college degree, with 3+ years of relevant / direct industry experience. Certifications are often desired. In lieu of a degree, a comparable combination of education, job specific certification(s), and experience (including military service) may be considered.

Education

Bachelors

Certifications

No Required Certification(s)

Licenses

No Required License(s)

Benefits

PNC offers a comprehensive range of benefits to help meet your needs now and in the future. Depending on your eligibility, options for full-time employees include: 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.

In addition, PNC generally provides the following paid time off, depending on your eligibility: 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.