Specialist - Balance Sheet Modeling and Analytics

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.  

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

The Specialist - Balance Sheet Modeling and Analytics will play a key role in supporting Northern Trust’s funds transfer pricing, interest rate risk modeling, and balance sheet strategy.  This role will focus on funds transfer pricing, interest rate risk management, communicating risk exposures to oversight committees, and developing assumptions/models.  The position is in Treasury and will report directly to the Head of Balance Sheet Strategy, Modeling and Analytics, as well as work closely with Risk Management and the business units. 

As Specialist (Balance Sheet Modeling and Analytics), your responsibilities include:

• Be a technical leader on the Balance Sheet Strategy, Modeling and Quantitative Analytics team/function. Work with the Head of Balance Sheet Strategy, Modeling and Analytics to set team objectives and strategic priorities.
• Lead the development of key models and assumptions for asset and liability risk measurement efforts, including non-maturity deposit pricing, decay, lives, core, and asset prepayment speeds.
• Conduct ad-hoc analysis to aid senior management and executive committees in the decision making process impacting product pricing, balance sheet optimization, and investment selection.
• Support the profitability of the Bank's loans and deposits through methodologies/strategy,  and collaboration on Funds Transfer Pricing (FTP) modeling assumptions.
• Support the broader Treasury team by providing quantitative support in the build out of interest rate risk framework tools, NII/MVE/DV01/AOCI limits calibration, scenario definitions, and assumption development/sensitivity testing, and interest rate risk measurement processes.
• Communicate financial issues in a clear and concise manner to senior management, internal oversight groups, and external regulators.
• Knowledge on global regulatory requirements and expectations that govern interest rate risk, liquidity risk, and modeling practices.

Knowledge/Skills:

• Strong knowledge of finance services is expected; and understanding of the custody business, balance sheet and income statement dynamics, including the risk characteristics of various asset and liability categories is a plus.
• Experience with asset and liability management, particularly within QRM is critical.
• Understanding of interest rate risk regulations and applying these expectations to practice is preferred.
• Strong analytical and communication skills are required to constructively challenge and influence the Treasury function, as well as articulate key risks to management committees.
• Experience applying risk management commensurate with the organization’s risk profile and regulatory requirements.
• Candidates are anticipated to have strengths in some but not all areas of responsibility; therefore, the ability to take initiative to learn and apply new skills is critical.

Experience:

• A college or university degree in Accounting, Finance, Economics, Statistics, Math, Engineering or other quantitative field is preferred. 7-10 year’s work experience in financial modeling working in a financial institution, regulatory agency, consulting firm or related field is required.
• Knowledge of QRM, SAS, SQL, or other financial modeling platforms
• Proficient in Microsoft Excel and Access.
• Familiarity with Interest Rate Risk Management, Liquidity Risk Management, and Funds Transfer Pricing.
• Strong analytical and quantitative skills, critical thinking, investigative problem-solving and decision making talents.
• Strong written and verbal communication skills with the ability to lead the development of senior management level presentations.

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Salary Range:

$99,600 - 169,200 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a 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 & acc