ALM Specialist & Deposit Strategy – Global Liquidity and Asset Liability Management

The position should provide recommendations to senior management to support management of the Corporation’s balance sheet and interest rate risk position, consistent with Board-approved risk appetite. As such, the position interacts with middle and senior Treasury management, as well as management within the business lines to obtain balance sheet forecasts and an understanding of both strategic and tactical initiatives that may impact the institution’s risk profile. The position also serves as liaison with other Bank partners on various cross-departmental tasks and projects.

The role will act as the intersection between Treasury, Banking Practice, Finance, and Operations. This includes the need to have an accurate sense of the industry landscape to enable the Company to develop and price our products accurately. The banking practice is committed to provide a leading suite of deposit products. Northern Trust’s clients are sophisticated, demanding, and appreciative of our fiduciary approach. This role help ensure that we are providing a set of products that have the functionality and economic benefits to clients that are consistent with Northern’s reputation as a premiere wealth manager.

The ALM Specialist & Deposit Strategy should have a strong understanding of Northern’s Balance Sheet and client base, the ability to establish relationships with a wide range of stakeholders, and excellent analytical skills. The position will report directly into the Head of Asset Liability Management Modeling (Hiring Manager) and indirectly to Head of Liquidity Stress Testing and Deposit Strategy.

Primary responsibilities

• Integrating Asset Liability Management into strategy, business practice and pricing committee decision. Participate in discussions with pricing committees. 
• Cultivating relationships with peers in the businesses, Risk Management, Business Units Leaders, Finance and Corporate Treasury to ensure efficient collection of data/model inputs/assumptions. May provide advice on specific business decisions that will affect liquidity, capital, earning or interest rate risk. 
• Supporting the pricing and profitability of the Bank's loans and deposits through ownership of the Funds Transfer Pricing methodology/strategy, and on the Deposit Pricing Committee support. You will identify concerns and work closely with business line leaders to gather product information and incorporate changes into risk models.
• Staying abreast of trends within the financial services industry and economy to enhance the management and the forecasting of changes in the Bank’s balance sheet composition.
• With minimal supervision, you are expected to use your knowledge of all the financial assets, liabilities, and derivatives used by the bank to draw actionable conclusions and communicate them effectively to all levels of management.
• Participating in planning, developing and implementing various projects and initiatives to improve Northern Trust’s Asset Liability and risk management framework.
• Completing complex analyses to support business assumptions and decisions. Provide feedback and make recommendations to management regarding the results and how to mitigate potential risk.
• Conducting special projects as needed and ad-hoc analyses/reporting as requested. Contributes to the achievement of functional objectives.
• Interfacing with internal and external stakeholders and continues to build a broad range of knowledge spanning the range of treasury, capital and asset and liability categories across the organization and its varied products/services.
• Monitoring competition to ensure the business is aware of competitive product construction, pricing, and technology
• Ensuring products are aligned with the strategic goals:
• Consistent with client need
• Priced appropriately
• Aligned across the product set
• Economically viable to Northern Trust

• Developing, supporting and maintaining product strategy. Engaging with the field, including bankers, relationship managers, and strategists to provide education, relationship management support, and encouragement to grow the deposit franchise. Engaging with various subject matter experts and stakeholders within other business units, including:
• Treasury o Finance
• Risk Management
• C&IS
• Shared Services

• Providing strong support at various internal leadership bodies, including
• The Funds Transfer Pricing Committee
• ALCO
• Deposit Pricing Committees

• Growth and Profitability
• Monitoring and promoting strong profit margins
• Creating growth via product and pricing promotions

Preferred Qualifications:

• MBA or equivalent
• 5-10 years of experience in Deposit roles, either in oversight, product management, or pricing
• 10 years of experience in financial services
• Previous experience in Asset Liability Management (ALM), Funds Transfer Pricing (FTP)
• Strong knowledge of the current Deposit landscape
• Strong analytical skills, including the ability to create pricing frameworks
• Working knowledge of analytical software packages and business intelligence tools 
• Strong cross-functional collaboration and management skills
• Excellent interpersonal skills to help act as a liaison between the field, Operations, Finance and Treasury.
• Team player with ability to listen, collaborate, respond, coach, and provide and receive constructive feedback.
• Individual contributor, consultative and team oriented, the candidate will have to collaborate with various stakeholder and teams for execution.

About Northern Trust:

Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With over 130 years of financial experience and nearly 20,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Working with Us:

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company that is committed to strengthening the communities we serve!

We recognize the value of inclusion and diversity in culture, in thought, and in experience, which is why we are honored to receive the following awards in 2021:

• Gender Equality Index Member, Bloomberg
• Top Financial & Banking Company, Black EOE Journal, Hispanic Network Magazine, Professional WOMAN'S Magazine

We’d love to learn more about how your interests and experience could be a fit with one of America’s best banks and most sustainable companies! Build your career with us and apply today.

For further information, and to apply, please visit our website via the “Apply” button below.