Manager Liquidity Risk Management Jobs in Chicago, IL

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.
Job Summary
The Head of Internal Liquidity Stress Testing Manager will be responsible for leading the design, execution and governance of Northern Trust's internal liquidity stress testing framework, ensuring regulatory expectations are met while supporting strategic balance sheet and funding decisions across the stress continuum. The successful candidate will manage the Internal Liquidity Stress Testing team with a mindset of continuous improvement as the team looks to continually review, challenge and enhance the internal liquidity stress testing narratives, assumptions, methodologies, calibrations and approaches. The role requires strong interpersonal skills to effectively partner with second line Risk Management, third line Internal Audit, global regulators and technology groups. The group is also responsible for the Corporate Contingency Funding Plan and all aspects that come with maintaining, testing and keeping the Plan accurate and effective. The position will report to the Global Head of Liquidity.
Ideally, the prospective candidate will be a seasoned leader with balance sheet management experience primarily in the areas of Liquidity Risk Management. Strong working knowledge of on and off-balance sheet products and strategies, the custody banking model, payment clearing and settlement risks, risk framework design, risk identification and risk measurement approaches which are necessary to support a sound liquidity risk stress testing and measurement process.
Primary Duties
• Manage the Internal Liquidity Stress Testing and Reporting team which has team members located across different geographical locations.
• Work with the Global Head of Liquidity to set team objectives and strategic priorities.
• Oversee the development of stress testing scenarios, frameworks, and methodologies that cover idiosyncratic, market, combined, and operational events across different time periods; overnight, thirty-day, ninety-day and one-year.
• Partner with the Treasury Modelling team to ensure the internal stress testing model is compliant with internal Model Risk Management requirements.
• Develop additional ad-hoc scenarios based on possible or plausible stress events specific to Northern Trust or those observed in the wider financial markets, including scenarios that look at currency impacts and capital stress scenario components.
• Communicate financial issues in a clear and concise manner to senior management, internal oversight groups, and external regulators.
• Lead the development of robust documentation to support major assumptions, models used for internal liquidity stress testing and look to incorporate lessons learned and industry/market events into the assumption and calibration processes.
• Ensure compliance with global regulatory requirements and expectations that govern liquidity risk, resolution planning, stress testing, and modeling practices.
• Development and maintenance of the enterprise's contingency funding plan.
Qualifications
• 10-15 year's work prior liquidity risk management experience working in a financial institution, regulatory agency, consulting firm, or related field.
• A college or university degree in Accounting, Finance, Economics, Statistics, Math, Engineering or other quantitative field.
• Familiarity with Asset Liability Management, Liquidity Risk Management, and Funds Transfer Pricing.
• Proficient in Microsoft Excel and PowerBI.
• Strong analytical and quantitative skills, critical thinking, investigative problem-solving and decision-making talents.
• Strong written and verbal communication skills with the ability to lead the development of senior management level presentations.
• Organized and able to execute responsibilities with minimal supervision.
• Applies knowledge of key business drivers and the factors that maximize department performance.
• Persuades managers and leaders to take action and/or negotiates with external partners/vendors/clients.
Salary Range:
$164,600 - 288,000 USD
Salary range is a good faith estimate of base pay. 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 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.