About Northern Trust
Founded in 1889, Northern Trust has established itself as a trusted and globally recognized financial institution. A Fortune 500 company, Northern Trust, has been in continuous operation for over 130 years, providing innovative financial services and guidance to the world’s most successful individuals, families, and institutions. The institution’s enduring principles of service, expertise, and integrity have been the backbone of its operations. Today, Northern Trust boasts over 22,000 partners and utilizes leading technology to deliver exceptional service to its sophisticated clientele.
Role of the Portfolio Manager at Northern Trust
As part of the Treasury team, the Portfolio Manager plays a crucial role in managing interest rate risk in the bank’s investment portfolio. This includes executing derivatives transactions as necessary to achieve the targeted risk profile. The Portfolio Manager specializes in developing and implementing hedging strategies designed to achieve the bank’s interest rate risk and accounting objectives, ultimately optimizing portfolio performance.
Major Duties of the Portfolio Manager
- The Portfolio Manager is responsible for developing hedging strategies, consistent with U.S. GAAP hedge accounting guidance, to manage interest rate risk within the bank’s investment portfolio. This involves utilizing single asset/liability and macro level hedging.
- They are also tasked with managing the US Treasury and Sovereign, Supernational investments.
- The role requires owning and managing valuation and testing models while performing initial and ongoing effectiveness testing for hedging relationships.
- Working closely with internal partners such as operations, accounting, credit, legal, etc., the Portfolio Manager provides leadership and coordination to manage issues related to the investment portfolio hedging program or Treasury in general, working across groups to execute solutions.
- The Portfolio Manager also assists in evaluating and developing investment objectives and guidelines as appropriate given risk tolerances.
- They aid with the execution of client-related derivatives hedging as necessary.
- Compliance with all policies and guidelines (Board, ALCO, Credit, Controllers, etc.) in managing interest rate risk is a key part of the role.
- The Portfolio Manager maintains communication with brokers and dealers to monitor the market and to develop strategies.
- They participate in, or lead, subgroup or task force to revise or modify existing internal or external procedures, guidelines, or to review new products or strategies.
- Keeping abreast of current and pending legal and regulatory issues that impact the derivatives market or hedge accounting rules is also part of their role.
Knowledge and Experience Required
- Knowledge of hedge accounting rules, derivatives products, bank balance sheet and asset/liability behaviors, usually acquired through experience and formal education, are needed.
- Understanding of current banking regulations, and their application to the balance sheet and investment portfolio, are necessary for proper portfolio allocations and risk analysis.
- Analytical and organizational skills, with knowledge of risk management and market data systems like Summit, QRM, Bloomberg, along with Excel are needed to analyze statistical information on investments, exposures and interest rate risk.
- Exceptional ability to organize and execute responsibilities with minimal supervision.
- Strong written and verbal communication skills.
- Exceptional analytical, quantitative skills and critical thinking.
Preferred candidates should have a college or university degree and 7-10 years of investment experience.
The salary range for this role is $99,600 – $169,200 USD. 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.
Working with Northern Trust
As a Northern Trust partner, greater achievements await. The organization fosters a flexible and collaborative work culture that encourages movement within the organization. Senior leaders are accessible, and employees can take pride in working for a company that is committed to assisting the communities it serves. Northern Trust is a workplace with a greater purpose.
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.
If you’re excited about the role and the opportunity to work with Northern Trust, apply today and talk to us about your flexible working requirements. Together, we can achieve greater.
Find more information about this role Here.
