Specialist - Balance Sheet and Deposit Strategist

About the role

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution with over 130 years of financial experience and over 22,000 partners. We provide innovative financial services and guidance to the world’s most sophisticated clients using leading technology and exceptional service.

Responsibilities

• Develop and implement strategies to expand the bank’s deposit base through initiatives such as product management, data-driven analysis, pricing optimization, support ALM in helping develop and execute ALM strategies that align with risk appetite and business objectives, and propose, negotiate, and regularly advise on the Funds Transfer Pricing methodology and policy for the Bank.
• Partner with cross-functional teams, evaluate market and product performance, design competitive pricing strategies, and identify growth opportunities, support to the ALM and Funds Transfer Functions.
• Deliver strategic insights and actionable recommendations to senior management.
• Support deposits growth, balance sheet analytics, strategy, and optimization – provide holistic analysis of product profitability with capital, liquidity, and funding constraints.
• Provide support in Funds Transfer Pricing, ALM and balance sheet management of the firm to drive results and achieve financial targets, driving internal and external communication of the strategy and performance of the balance sheet, and conducting analytics and projects related to the firm's NII/NIM, ROE and associated financial metrics.
• Serve as liaison between Treasury, the business units, and One Northern Liquidity initiatives to coordinate and oversee analytics to support deposits gathering & monetization strategy.
• Collaborate with teams across the firm including Business Lines, One Liquidity Team, Treasury, Investments, Capital Management, MRP&A, and Investor Relations, to achieve the objectives of Treasury and the firm.
• Execute balance sheet optimization solutions which will support senior management decision making of the firm's balance sheet strategy and ensure connectivity with FTP, deposits liquidity value, capital, and other costs.
• Apply business acumen across Wealth Management / Asset Servicing / Competitive Intelligence/ Markets to capture idiosyncratic business dynamics leveraging product and client-level information.
• Produce high quality materials to concisely communicate insights and balance sheet strategic recommendations to NT's senior management and Business Treasury teams.
• Help syndicate key messages with senior Business leaders to garner key stakeholder engagement and ensure alignment of broader organization with overall balance sheet strategy execution.

Requirements

• 10+ years of progressive experience in business unit, treasury, finance, corporate strategy, and/or asset-liability management (ALM), including at least 3 years at an institution of comparable size and complexity to Northern Trust.
• Deep expertise in deposit pricing, deposits strategy, fixed income markets and modeling, ALM, and balance sheet strategy, including portfolio optimization and hedging strategies for large non-maturity deposit portfolios.
• Knowledge on global regulatory requirements and expectations governing liquidity risk, interest rate risk, and modeling practices.
• Familiarity with Asset Liability Management, Interest Rate Risk Management, Liquidity Risk Management, and Funds Transfer Pricing.
• Exceptional communication skills, both written and verbal, with a proven ability to develop presentations and influence senior leadership on strategic balance sheet decisions.
• Innovative mindset with demonstrated ability to work in undefined spaces and create actionable, creative analyses that drive company strategy.
• Bachelor’s degree required; MBA or Master’s degree preferred.
• Preferred professional certifications such as CFA, FRM, or PRM are preferred.
• Experience managing risks associated with a wealth management or custody bank balance sheet business model.
• Knowledge of Wealth Management and/or Asset Servicing/Custody Bank business models.
• Financial modeling and analysis experience using platforms such as BlackRock-Aladdin, Murex, Bloomberg, QRM, or similar systems is a plus.

Qualifications

• Strong analytical, communication, and leadership skills.
• Strong understanding of global economic/yield curve environment and business strategy.
• Strong understanding of balance sheet strategy, product pricing, Funds Transfer Pricing, and ALM.
• Strong understanding of regulatory requirements and expectations governing liquidity risk, interest rate risk, and modeling practices.
• Strong understanding of Wealth Management and/or Asset Servicing/Custody Bank business models.
• Strong understanding of Financial Modeling and Analysis using platforms such as BlackRock-Aladdin, Murex, Bloomberg, QRM, or similar systems.

Skills

• Strong analytical, communication, and leadership skills.
• Strong understanding of global economic/yield curve environment and business strategy.
• Strong understanding of balance sheet strategy, product pricing, Funds Transfer Pricing, and ALM.
• Strong understanding of regulatory requirements and expectations governing liquidity risk, interest rate risk, and modeling practices.
• Strong understanding of Wealth Management and/or Asset Servicing/Custody Bank business models.
• Strong understanding of Financial Modeling and Analysis using platforms such as BlackRock-Aladdin, Murex, Bloomberg, QRM, or similar systems.

Benefits

Comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Pay

$137,400 - 233,600 USD Salary range is a good faith estimate of base pay.

Schedule

We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.