Credit Portfolio Manager - Global Family Office (GFO)

Northern Trust; Chicago (IL); Hybrid; USD 68,000 - 112,000; Full time

Benefits offered by this job

401k and pension

Medical, dental and vision coverage

Paid time off

Parental and caregiver leave

Job summary

Northern Trust in Chicago, IL is seeking a Credit Portfolio Manager to oversee credit risk and profitability for a portfolio of clients, while supporting Relationship Managers with financial analysis and underwriting.

The role requires evaluating liquidity, creditworthiness, and investment holdings, preparing credit memoranda, and coordinating legal documentation. A hybrid schedule applies, with travel to client locations as needed.

Qualifications

• In-depth knowledge of finance, accounting and investments.
• Knowledge of industry laws and regulations to review credit risk.
• Analytical and communication skills to assess risk and prepare presentations.
• Personal computer skills to prepare financial spreadsheets.
• Experience: 3-5 years in financial and/or credit analysis.

Responsibilities

• Manages credit product risk and profitability for a portfolio of credit clients and monitors loan performance to ensure that loan quality adheres to guidelines.
• Supports Relationship Managers through financial/credit analysis and credit underwriting.
• Researches and analyzes pertinent financial statements and investment holdings/portfolios.
• Evaluates investment holdings/portfolios and personal financial statements for liquidity, collateral support, repayment sources and creditworthiness.
• Prepares and presents written credit memoranda for credit approval.
• Coordinates preparation and execution of legal documentation and provides periodic updates of client credit quality.

Skills

Finance knowledge

Investments

Credit analysis

Analytical skills

Communication skills

Job description

About Northern Trust

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions. Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide. With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Credit Portfolio Manager

Job Description: The Credit Portfolio Manager will be responsible for managing credit product risk and profitability for a portfolio of credit clients and monitoring loan performance to ensure that loan quality adheres to guidelines. Assists Relationship Managers in marketing credit to clients. Researches and analyzes pertinent financial statements and investment holdings. Evaluates the liquidity and performance of Family Office holding and legal structures and creditworthiness. Prepares and presents written credit memoranda for credit approval.

Key Responsibilities

• Manages credit product risk and profitability for a portfolio of credit clients and monitors loan performance to ensure that loan quality adheres to guidelines.
• Supports Relationship Managers through financial/credit analysis and credit underwriting.
• Researches and analyzes pertinent financial statements and investment holdings/portfolios.
• Evaluates investment holdings/portfolios and personal financial statements for liquidity, collateral support, repayment sources and creditworthiness.
• Prepares and presents written credit memoranda for credit approval.
• Coordinates preparation and execution of legal documentation in conjunction with Associate Banking Advisor and Relationship Manager and provides periodic updates of client credit quality to Credit Policy.
• Collects all necessary client prepared information and completes client financial statement spreadsheets, projections of client's financial condition and Relationship Returns Review (RRR).
• Implements appropriate pricing and covenants on credit facilities in conjunction with the Relationship Manager and monitors covenant compliance, document and periodic deficiencies and short margin reports.
• On an ongoing basis, monitors client loan portfolios to ensure that loan quality adheres to guidelines.
• Travels to client locations as required and participates in virtual client meetings.
• Trains, mentors and guides Rotational Development Program (RDP) Partners and less experienced analysts.

Qualifications / Desired Skills

• In-depth knowledge of finance, accounting and investments usually acquired through formal education or experience is required to analyze and evaluate financial statements.
• Knowledge of applicable industry laws and regulations, usually acquired through prior experience, is required to review credit risk.
• Analytical and communication skills are required to determine credit risk and to prepare credit presentations.
• Personal computer skills are required to prepare financial spreadsheets.
• Experience: 3-5 years in financial and/or credit analysis.

Working Model

Hybrid. We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office three days a week and working from home two days a week.

Salary Range

$67,500 - 111,500 USD. Salary range is a good faith estimate of base pay.

Benefits

• 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.
• Other voluntary and well-being benefits.

Bonus Program

Discretionary bonus program that may include an equity component.

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

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 committed to an inclusive workplace and assisting the communities we serve. Philanthropy is deeply rooted in Northern Trust's history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail], or alternatively you can discuss your individual requirements with the recruiter you are working with.

APAC/INDIA EEO STATEMENT

It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources' decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

Canada EEO STATEMENT

Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status or any other characteristic protected under federal, provincial, or local law, regulation, or ordinance.

EMEA EEO STATEMENT

It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources' decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

USA EEO STATEMENT

It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status. EEO Know Your Rights (U.S.)