Northern Trust
Portfolio Manager Specialist - Interest Rate Derivatives and Hedging
Northern Trust, Chicago, Illinois, United States, 60290
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.
As part of the Treasury team, the Portfolio Manager Specialist is responsible for managing interest rate risk in the bank's investment portfolio and executing derivatives transactions as necessary to achieve targeted risk profile. The Specialist will develop and implement hedging strategies designed to achieve the interest rate risk and accounting objectives of the bank and optimize portfolio performance.
Major Duties:Develop hedging strategies, consistent with U.S. GAAP hedge accounting guidance, to manage interest rate risk within the bank's investment portfolio, utilizing single asset/liability and macro level hedging.Execute and/or terminate hedges as necessary to achieve targeted risk profile and hedge program goals.Own and manage valuation and testing model while performing initial and ongoing effectiveness testing for hedging relationships.Works closely with internal partners (operations, accounting, credit, legal, etc.), providing leadership and coordination to manage issues related to the investment portfolio hedging program specifically, or Treasury generally, working across groups to execute solutions.Assists in evaluating and developing investment objectives and guidelines as appropriate given risk tolerances.Assists with execution of client related derivatives hedging as necessary.Complies with all policies and guidelines (Board, ALCO, Credit, Controllers, etc.) in managing interest rate risk.Maintain communication with brokers and dealers to monitor the market and to develop strategies.Participates in, or leads, sub-group or task force to revise or modify existing internal or external procedures, guidelines, or to review new products or strategies.Maintains awareness of current and pending legal and regulatory issues that impact the derivatives market or hedge accounting rules.Knowledge:
Knowledge of hedge accounting rules, derivatives products, bank balance sheet and asset/liability behaviors, usually acquired through experience and formal education, are needed.Knowledge of current banking regulations, and application to the balance sheet and investment portfolio, are necessary to determine proper portfolio allocations and risk analysis.Analytical and organizational skills, with knowledge of risk management and market data systems (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.
Experience:
A college or university degree in is preferred. 5-7 years of in investment experience is required.
#LI-hybrid
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
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.
We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.
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.
As part of the Treasury team, the Portfolio Manager Specialist is responsible for managing interest rate risk in the bank's investment portfolio and executing derivatives transactions as necessary to achieve targeted risk profile. The Specialist will develop and implement hedging strategies designed to achieve the interest rate risk and accounting objectives of the bank and optimize portfolio performance.
Major Duties:Develop hedging strategies, consistent with U.S. GAAP hedge accounting guidance, to manage interest rate risk within the bank's investment portfolio, utilizing single asset/liability and macro level hedging.Execute and/or terminate hedges as necessary to achieve targeted risk profile and hedge program goals.Own and manage valuation and testing model while performing initial and ongoing effectiveness testing for hedging relationships.Works closely with internal partners (operations, accounting, credit, legal, etc.), providing leadership and coordination to manage issues related to the investment portfolio hedging program specifically, or Treasury generally, working across groups to execute solutions.Assists in evaluating and developing investment objectives and guidelines as appropriate given risk tolerances.Assists with execution of client related derivatives hedging as necessary.Complies with all policies and guidelines (Board, ALCO, Credit, Controllers, etc.) in managing interest rate risk.Maintain communication with brokers and dealers to monitor the market and to develop strategies.Participates in, or leads, sub-group or task force to revise or modify existing internal or external procedures, guidelines, or to review new products or strategies.Maintains awareness of current and pending legal and regulatory issues that impact the derivatives market or hedge accounting rules.Knowledge:
Knowledge of hedge accounting rules, derivatives products, bank balance sheet and asset/liability behaviors, usually acquired through experience and formal education, are needed.Knowledge of current banking regulations, and application to the balance sheet and investment portfolio, are necessary to determine proper portfolio allocations and risk analysis.Analytical and organizational skills, with knowledge of risk management and market data systems (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.
Experience:
A college or university degree in is preferred. 5-7 years of in investment experience is required.
#LI-hybrid
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
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.
We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.