Municipal Bond Trader

Northern Trust•Chicago, IL

7d•$160,100 - $272,300

About The Position

Northern Trust Asset Management is seeking an experienced fixed income trader to execute buy and sell orders across client portfolios. The role primarily focuses on taxable and tax-exempt municipal bonds, with opportunities to support electronic trading in other fixed income sectors, including corporate credit and rates products. The trader works closely with Portfolio Managers and fellow traders to support efficient execution across ETFs, active and index-based funds, institutional accounts, separately managed accounts (SMAs), and wealth management portfolios.

Requirements

Expertise in electronic fixed income trading, including extensive proficiency with MarketAxess, Tradeweb, and Bloomberg.
Comprehensive knowledge of fixed income markets, investment strategies, portfolio construction, risk management, and credit fundamentals.
Strong dealer relationship management skills, including the ability to source liquidity, negotiate effectively, and achieve best execution for client portfolios.
Excellent communication, analytical, and collaboration skills, with the ability to partner effectively with portfolio managers, traders, research analysts, and operational teams.
Applicants must be authorized to work in the U.S. without employment-based visa sponsorship now or in the future.

Nice To Haves

Experience with OMS and EMS systems such as Aladdin, Perform, and Adroit.
Three to five years of municipal bond trading experience is preferred.
Investment-grade or corporate bond trading experience may be considered when accompanied by some exposure to or experience in municipal bond trading.

Responsibilities

Execute primary and secondary market municipal bond transactions across sectors according to portfolio manager direction, client objectives, and investment guidelines.
Understand factors influencing bond valuations, including market conditions, supply and demand, technical factors, relative value, and sector fundamentals.
Develop and maintain broker-dealer and counterparty relationships to source liquidity, evaluate opportunities, and achieve best execution.
Coordinate tax-loss harvesting, account liquidations, invest-ups, cash deployment, and other portfolio-transition activities, including receiving, executing, and settling related trading orders.
Collaborate with portfolio managers on portfolio positioning, trading strategy, cash deployment, and implementation decisions consistent with client objectives and market conditions.
Maintain knowledge of fixed income investment vehicles, market structure, security characteristics, pricing methodologies, industry trends, and regulatory requirements.
Provide portfolio and market analysis for investment decisions, client communications, and business development efforts.
Partner with technology, operations, compliance, and external vendors to test, troubleshoot, and improve municipal trading platforms, data flows, reporting, and system integrations.
Identify and implement process improvements, automation, controls, and analytical tools to increase trading efficiency, reduce operational risk, and improve scalability.
Support electronic trading coverage in other fixed income sectors, including corporate credit, government securities, and rates products, as needed.