Specialist - Balance Sheet and Deposit Strategist

Northern Trust • Chicago, IL

13d • 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 Specialist- Balance Sheet and Deposit Strategist will be responsible for developing and implementing strategies to expand the bank’s deposit base through initiatives such as product management, data-driven analysis, and pricing optimization. Core duties include partnering with cross-functional teams, evaluating market and product performance, designing competitive pricing strategies, and identifying growth opportunities. The role demands strong analytical, communication, and leadership skills to deliver strategic insights and actionable recommendations to senior management. The Balance Sheet Modeling and Analytics Specialist will report to the Global Head of Asset Liability Management and work closely with the Treasurer and the head of the Wealth Management and Asset Servicing businesses. Ideally, the prospective candidate will be a seasoned leader with extensive balance sheet management and deposits pricing experience primarily in the areas of Asset Liability Management and Liquidity Risk Management. The prospective candidate should have working knowledge of balance sheet strategy, product pricing, global economic/yield curve environment and business strategy which are necessary to support balance sheet and deposits growth, optimization, and profitability.

Requirements

• 10+ years of progressive experience in business unit, treasury, finance, corporate strategy, and/or asset-liability management (ALM), including at least 3 years at an institution of comparable size and complexity to Northern Trust.
• Deep expertise in deposit pricing, deposits strategy, fixed income markets and modeling, ALM, and balance sheet strategy, including portfolio optimization and hedging strategies for large non-maturity deposit portfolios.
• Knowledge on global regulatory requirements and expectations governing liquidity risk, interest rate risk, and modeling practices.
• Familiarity with Asset Liability Management, Interest Rate Risk Management, Liquidity Risk Management, and Funds Transfer Pricing
• Exceptional communication skills, both written and verbal, with a proven ability to develop presentations and influence senior leadership on strategic balance sheet decisions.
• Innovative mindset with demonstrated ability to work in undefined spaces and create actionable, creative analyses that drive company strategy.
• Bachelor’s degree required; MBA or Master’s degree preferred.

Nice To Haves

• Professional certifications such as CFA, FRM, or PRM are preferred.
• Experience managing risks associated with a wealth management or custody bank balance sheet business model.
• Knowledge of Wealth Management and/or Asset Servicing/Custody Bank business models.
• Financial modeling and analysis experience using platforms such as BlackRock-Aladdin, Murex, Bloomberg, QRM, or similar systems is a plus.

Responsibilities

• Support deposits growth, balance sheet analytics, strategy, and optimization – provide holistic analysis of product profitability with capital, liquidity, and funding constraints.
• Provide support in deposit strategy and balance sheet management of the firm to drive results and achieve financial targets, driving internal and external communication of the strategy and performance of the balance sheet, and conducting analytics and projects related to the firm's NII/NIM, ROE and associated financial metrics.
• Serve as liaison between Treasury, the business units, and One Northern Liquidity initiatives to coordinate and oversee analytics to support deposits gathering & monetization strategy.
• Provide thought leadership and collaborate with teams across the firm including Business Lines, One Liquidity Team, Treasury, Investments, Capital Management, MRP&A, and Investor Relations, to achieve the objectives of Treasury and the firm.
• Support the execution of balance sheet optimization solutions which will support senior management decision making of the firm's balance sheet strategy and ensure connectivity with FTP, deposits liquidity value, capital, and other costs.
• Apply business acumen across Wealth Management / Asset Servicing / Competitive Intelligence/ Markets to capture idiosyncratic business dynamics leveraging product and client-level information.
• Produce high quality materials to concisely communicate insights and balance sheet strategic recommendations to NT's senior management and Business Treasury teams.
• Help syndicate key messages with senior Business leaders to garner key stakeholder engagement and ensure alignment of broader organization with overall balance sheet strategy execution.

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