Head of Bank Portfolio Management

Northern Trust • Chicago, IL

1d • $205,700 - $300,000

About The Position

The Chief Bank Portfolio & Balance Sheet Hedging Manager is a senior leader within Corporate Treasury responsible for the strategic management of the firm’s global bank investment portfolio and balance sheet interest-rate hedging activities. Reporting directly to the Treasurer, the role establishes and executes the investment and hedging strategy for Treasury-managed assets and structural balance sheet exposures, with the objectives of optimizing net interest income (NII), economic value, liquidity, capital efficiency, and risk-adjusted returns within the firm’s approved risk appetite and regulatory requirements. The role serves as the Treasurer’s principal executive for translating the firm’s balance sheet, liquidity, interest-rate, deposit, and macroeconomic outlook into an integrated investment and hedging strategy. This leader will partner closely with Asset-Liability Management, Liquidity Management, Capital Management, Finance, Risk, Markets, Economics, and business-line senior stakeholders to ensure that investment portfolio and hedging decisions are aligned with the firm’s broader balance sheet strategy.

Requirements

• 15+ years of progressively senior experience in Treasury, bank portfolio management, asset-liability management, fixed income, interest-rate risk, balance-sheet management, or related disciplines.
• Significant experience within a large U.S., global, or systemically important banking institution strongly preferred.
• Demonstrated experience managing a substantial bank investment portfolio and/or structural interest-rate hedging program.
• Deep understanding of fixed-income markets and interest-rate derivatives.
• Significant knowledge of bank balance sheets, deposit behavior, liquidity, funding, capital, and NII dynamics.
• Experience presenting investment and balance-sheet strategies to Treasurer, CFO, CRO, ALCO, and other executive governance forums.
• Experience operating within sophisticated regulatory and risk-management frameworks.
• Demonstrated leadership of senior investment, Treasury, or balance-sheet management professionals.
• Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

Responsibilities

• Lead strategy, construction, and management of the firm’s Treasury investment portfolio, optimizing yield, liquidity, duration, capital efficiency, accounting outcomes, and risk-adjusted returns across approved asset classes and portfolio classifications.
• Own the design and execution of Treasury’s structural hedging program, translating balance sheet exposures into hedge strategies that manage duration, repricing risk, NII volatility, economic value sensitivity, and accounting outcomes.
• Support sustainable NII and margin performance while partnering with ALM to manage interest-rate risk across NII sensitivity, EVE, DV01/PV01, key-rate exposures, deposit behavior, basis risk, optionality, and stress scenarios.
• Ensure investment and hedge strategies support liquidity resilience, HQLA, LCR/NSFR, monetization capacity, capital efficiency, RWA, AOCI/OCI, hedge accounting, and regulatory expectations.
• Serve as Treasury’s senior market strategist and execution leader, translating macro, rate, yield-curve, liquidity, and credit-market views into portfolio and hedge actions while ensuring disciplined execution, controls, policies, limits, and senior governance communication.
• Establish forward-looking analytics, stress testing, scenario analysis, and performance attribution covering market movements, portfolio positioning, funding changes, hedge effectiveness, liquidity value, capital utilization, NII-at-risk, EVE sensitivity, and risk-adjusted return.
• Build and lead a high-performing global Treasury investment and hedging organization with clear accountability, strong talent development, succession planning, cross-functional collaboration, analytical rigor, disciplined risk management, and effective controls.
• Subject to delegated authorities, recommend and/or execute decisions across asset allocation, duration, yield-curve and sector positioning, investment timing, securities transactions, hedge size, tenor and instrument selection, reinvestment strategy, liquidity positioning, and risk-limit utilization; escalate material strategic changes to the Treasurer and appropriate governance committees.

Benefits

• 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
• other voluntary and well-being benefits
• discretionary bonus program that may include an equity component

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: No Education Listed