Sr. Bank Portfolio Manager - Interest Rate Derivatives and Hedging at Northern Trust

Chicago, Illinois, United States

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Not SpecifiedCompensation

Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial ServicesIndustries

Requirements

Knowledge of hedge accounting rules, derivatives products, bank balance sheet and asset/liability behaviors, usually acquired through experience and formal education
Knowledge of current banking regulations and their application to the balance sheet and investment portfolio for 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 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
College or university degree preferred
7-10 years of investment experience required

Responsibilities

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
Manage the US Treasury and Sovereign, Supranational investments
Own and manage valuation and testing model while performing initial and ongoing effectiveness testing for hedging relationships
Work closely with internal partners (operations, accounting, credit, legal, etc.), providing leadership and coordination to manage issues related to the investment portfolio hedging program or Treasury generally, executing solutions across groups
Assist in evaluating and developing investment objectives and guidelines as appropriate given risk tolerances
Assist with execution of client related derivatives hedging as necessary
Comply 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 develop strategies
Participate in, or lead, sub-group or task force to revise or modify existing internal or external procedures, guidelines, or to review new products or strategies
Maintain awareness of current and pending legal and regulatory issues that impact the derivatives market or hedge accounting rules

Skills

Key technologies and capabilities for this role

Interest Rate DerivativesHedging StrategiesU.S. GAAP Hedge AccountingPortfolio ManagementRisk ManagementDerivatives TransactionsValuation ModelingEffectiveness TestingUS Treasury InvestmentsSupernational Investments

Questions & Answers

Common questions about this position

What is the employment type for this Sr. Bank Portfolio Manager role?

This is a full-time position.

Is this Sr. Bank Portfolio Manager position remote or office-based?

This information is not specified in the job description.

What key skills are required for the Sr. Bank Portfolio Manager role?

Required skills include knowledge of hedge accounting rules, derivatives products, bank balance sheet and asset/liability behaviors, current banking regulations, analytical and organizational skills, and proficiency with risk management systems like Summit, QRM, Bloomberg, and Excel.

What is the company culture like at Northern Trust for this role?

Northern Trust emphasizes enduring principles of service, expertise, and integrity, with over 22,000 partners providing innovative financial services using leading technology and exceptional service; the role involves close collaboration with internal partners like operations, accounting, credit, and legal.

What makes a strong candidate for the Sr. Bank Portfolio Manager position?

Strong candidates will have experience in hedge accounting, derivatives, bank balance sheet management, banking regulations, and proficiency in tools like Summit, QRM, Bloomberg, and Excel, along with analytical skills for developing hedging strategies.