Specialist - Balance Sheet Optimization

Northern Trust • Chicago, IL

1d • 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 Optimization is responsible for developing and executing strategies to optimize the bank’s balance sheet across deposits, investments, funding, and liquidity while operating within established interest rate risk, capital, and regulatory frameworks. This role partners closely with Treasury functions, including Asset Liability Management (ALM), Liquidity, Investment Portfolio, and Funding desk, as well as Capital Management, and Business Units (Asset Servicing, Wealth Management, and Asset Management) to drive earnings growth, balance sheet resilience, and capital efficiency. The Specialist delivers forward‑looking analytics and strategic insights to the Treasurer, senior management, ALCO, and governance committees, with a focus on Net Interest Income (NII), liquidity optimization, deposit monetization, and interest rate risk management.

Requirements

• Bachelor’s degree in Finance, Economics, Accounting, Statistics, Mathematics or a related quantitative field; MBA or Master’s degree preferred.
• 10+ years of experience in Treasury, ALM, Liquidity Risk, Balance Sheet Management, or related functions within a bank or financial institution.
• Strong understanding of bank balance sheets, including deposits, securities portfolios, hedging strategies, wholesale funding, and liquidity frameworks.
• Experience supporting ALCO, senior management, and/or regulatory forums.
• Deep knowledge of balance sheet strategy, NII drivers, liquidity metrics, and interest rate risk.
• Strong analytical and financial modeling skills with the ability to translate complex analysis into executive‑level insights.
• Excellent written and verbal communication skills, including the ability to lead the development of senior management level presentations.
• Ability to operate effectively in a highly regulated environment with strong governance discipline.
• Advanced Excel and PowerPoint skills; experience with Power BI, ALM/QRM platforms and data tools strongly preferred.

Nice To Haves

• Professional certifications such as CFA, FRM, or PRM are preferred.

Responsibilities

• Develop and maintain an integrated balance sheet strategy across deposits, investments, funding, and capital, aligned with the firm’s risk appetite, regulatory requirements, and business objectives.
• Evaluate trade‑offs between earnings, liquidity, interest rate risk, and capital under multiple market environments and stress scenarios.
• Support balance sheet growth and optimization initiatives through data‑driven analysis and actionable strategic recommendations.
• Analyze Return on Equity (ROE), Risk-Weighted Assets (RWA), liquidity consumption, and capital efficiency for balance sheet‑intensive activities.
• Partner with business lines to evaluate deposit flows, pricing, and liquidity value across client segments and products.
• Support deposit monetization strategies, including pricing optimization and balance sheet allocation decisions.
• Assess liquidity buffers and contingent funding considerations and incorporate impacts into financial outlooks and strategic plans.
• Support in the development of NII forecasts and sensitivity analysis, and assess impacts to interest rate risk metrics (e.g., NII shock, MVE).
• Evaluate hedging and investment strategies to manage interest rate risk while supporting earnings objectives.
• Ensure consistency across forecast assumptions, deposit betas, investment strategies, and approved balance sheet initiatives.
• Produce and present balance sheet and NII analytics for senior management, ALCO, and regulatory forums.
• Ensure transparency, documentation, and governance alignment in all strategic recommendations.
• Partner with Investment Portfolio, Liquidity, Capital Management, Technology, and Finance to improve balance sheet analytics, processes, and systems.
• Contribute to the ongoing enhancement of balance sheet models, data infrastructure, and reporting automation initiatives.
• Provide thought leadership on market trends, yield curve dynamics, and competitive positioning.

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