Bank Portfolio Manager - Interest Rate Derivatives and Hedging

Northern Trust • Chicago, IL

32d

About The Position

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. As part of the Treasury team, the Portfolio Manager is responsible for managing interest rate risk in the bank's investment portfolio and executing derivatives transactions as necessary to achieve targeted risk profile. The Specialist will develop and implement hedging strategies designed to achieve the interest rate risk and accounting objectives of the bank and optimize portfolio performance.

Requirements

• Knowledge of hedge accounting rules, derivatives products, bank balance sheet and asset/liability behaviors, usually acquired through experience and formal education, are needed.
• Knowledge of current banking regulations, and application to the balance sheet and investment portfolio, are necessary to determine proper portfolio allocations and risk analysis.
• Analytical and organizational skills, with knowledge of risk management and market data systems (Summit, QRM, Bloomberg) along with Excel are needed to analyze statistical information on investments, exposures and interest rate risk.
• Exceptional ability to organize and execute responsibilities with minimal supervision.
• Strong written and verbal communication skills.
• Exceptional analytical, quantitative skills and critical thinking.
• A college or university degree in is preferred.
• 7-10 years of in investment experience is required.

Responsibilities

• Develop hedging strategies, consistent with U.S. GAAP hedge accounting guidance, to manage interest rate risk within the bank’s investment portfolio, utilizing single asset/liability and macro level hedging.
• Manage the US Treasury and Sovereign, Supernational investments.
• Own and manage valuation and testing model while performing initial and ongoing effectiveness testing for hedging relationships.
• Works closely with internal partners (operations, accounting, credit, legal, etc.), providing leadership and coordination to manage issues related to the investment portfolio hedging program specifically, or Treasury generally, working across groups to execute solutions.
• Assists in evaluating and developing investment objectives and guidelines as appropriate given risk tolerances.
• Assists with execution of client related derivatives hedging as necessary.
• Complies with all policies and guidelines (Board, ALCO, Credit, Controllers, etc.) in managing interest rate risk.
• Maintain communication with brokers and dealers to monitor the market and to develop strategies.
• Participates in, or leads, sub-group or task force to revise or modify existing internal or external procedures, guidelines, or to review new products or strategies.
• Maintains awareness of current and pending legal and regulatory issues that impact the derivatives market or hedge accounting rules.

Benefits

• 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 & accident insurance, and other voluntary and well-being benefits.
• Northern Trust also provides a discretionary bonus program that may include an equity component.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 501-1,000 employees