Capital Markets Risk Solutions Specialist

Northern Trust • Chicago, IL

7d • Hybrid

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. The role of Risk Solutions Specialist- Capital Markets is responsible for establishing and maintaining stress testing strategies for counterparty credit risk that support prudent risk management, minimize potential losses, and ensure full compliance with supervisory guidance. The position will be responsible for the design, governance, and ongoing enhancement of counterparty stress testing frameworks across Financial Risk, ensuring alignment with evolving market conditions, regulatory expectations, internal risk appetite, and prevailing market practices. This includes assessing stress methodologies, scenario design, data integrity, and result interpretation to support effective risk identification and decision‑making. Role Overview This is a highly visible role within Northern Trust’s Risk Management organization, offering the opportunity to work at the intersection of markets, counterparty credit risk, and stress testing. The successful candidate will provide consultative risk coverage to Capital Markets trading teams, delivering scenario‑based insights that support sound risk taking and regulatory compliance. The role offers regular exposure to senior management and risk committees, along with broad collaboration across the firm—including Trading, Risk, Treasury, Modeling, Economics, Finance, and Technology—making it ideal for a candidate who thrives in a dynamic, cross‑functional environment.

Requirements

• 5+ years of experience in financial services, with a focus on Capital Markets and Counterparty Credit Risk.
• Strong understanding of capital markets products (Foreign Exchange, Securities Lending, Repos, Treasury, Investment Securities).
• Hands‑on experience with risk and performance analytics tools (Aladdin, BarraOne, MSCI RiskManager or similar).
• Proven ability to design, execute, and interpret stress testing scenarios and explain results in a clear, business‑focused manner.
• Strong communication skills and comfort engaging with senior stakeholders.
• Bachelor’s degree required

Nice To Haves

• Master’s degree and/or FRM/PRM preferred.

Responsibilities

• Play a central role in the Counterparty Credit Stress Testing framework, including scenario design, execution, analysis, and presentation of results to senior management.
• Design and interpret market‑driven stress scenarios (rates, FX, credit spreads, equity, liquidity), translating market shocks into counterparty credit risk impacts.
• Leverage Aladdin, BarraOne, Bloomberg, MSCI RiskManager, and similar platforms to analyze stressed exposures, sensitivities, and concentrations.
• Support Securities Finance and other Capital Markets counterparty portfolios, including VaR execution, stress analysis, and escalation of material risks.
• Partner closely with Trading desks, Treasury, Risk, and Economics teams to develop stressed but plausible stressed scenarios tails.
• Support new and evolving business activities, advising on credit risk implications and appropriate monitoring frameworks.

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: 5,001-10,000 employees