Senior Balance Sheet Strategist

ACCA Careers; Chicago (IL); Hybrid; USD 165,000 - 288,000; Full time

Benefits offered by this job

Discretionary bonus program

Comprehensive benefits package

Flexible work culture

Job summary

Northern Trust in the United States is seeking a Senior Balance Sheet Strategist to lead the development and execution of strategies to optimize the bank’s balance sheet across deposits, investments, funding, and liquidity within regulatory frameworks.

This senior IC role partners with ALM, Liquidity, Investment Portfolio, and Capital Management to drive earnings growth, balance sheet resilience, and capital efficiency through forward‑looking analytics and NII forecasts.

Qualifications

• Bachelor’s degree in Finance or related quantitative field; MBA preferred.
• 15+ years in Treasury/ALM/Liquidity Risk or related areas.
• Strong knowledge of balance sheet strategy, NII drivers, liquidity metrics and hedging.

Responsibilities

• Develop and maintain an integrated balance sheet strategy across deposits, investments, funding and capital.
• Evaluate tradeoffs between earnings, liquidity, risk and capital under various scenarios.
• Produce and present balance sheet and NII analytics to senior management and governance bodies.

Skills

Analytical skills

Financial modeling

Executive communication

Strategic thinking

Data-driven decision making

Education

Bachelor’s degree in Finance/Economics/Quant

MBA or Master’s degree preferred

CFA/FRM/PRM preferred

Tools

Power BI

Excel

ALM/QRM platforms

Job description

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.

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.

The Senior Balance Sheet Strategist is responsible for leading the development and execution of strategies to optimize the bank’s balance sheet across deposits, investments, funding, and liquidity while operating within established interest rate risk, capital, and regulatory frameworks.

This position is a senior level individual contributor role that partners closely with Treasury functions, including Asset Liability Management (ALM), Liquidity, Investment Portfolio, and Funding desk, as well as Capital Management, and Business Units (Asset Servicing, Wealth Management, and Asset Management) to drive earnings growth, balance sheet resilience, and capital efficiency.

The Strategist will provide strategic leadership and deliver forward‑looking analytics and strategic insights to the Treasurer, senior management, ALCO, and governance committees, with a focus on Net Interest Income (NII), liquidity optimization, deposit monetization, and interest rate risk management.

Key Responsibilities

• Develop and maintain an integrated balance sheet strategy across deposits, investments, funding, and capital, aligned with the firm’s risk appetite, regulatory requirements, and business objectives.
• Evaluate trade‑offs between earnings, liquidity, interest rate risk, and capital under multiple market environments and stress scenarios.
• Support balance sheet growth and optimization initiatives through data‑driven analysis and actionable strategic recommendations.
• Analyze Return on Equity (ROE), Risk‑Weighted Assets (RWA), liquidity consumption, and capital efficiency for balance sheet‑intensive activities.
• Partner with business lines to evaluate deposit flows, pricing, and liquidity value across client segments and products.
• Support deposit monetization strategies, including pricing optimization and balance sheet allocation decisions.
• Assess liquidity buffers and contingent funding considerations and incorporate impacts into financial outlooks and strategic plans.
• Support in the development of NII forecasts and sensitivity analysis, and assess impacts to interest rate risk metrics (e.g., NII shock, MVE).
• Evaluate hedging and investment strategies to manage interest rate risk while supporting earnings objectives.
• Ensure consistency across forecast assumptions, deposit betas, investment strategies, and approved balance sheet initiatives.
• Produce and present balance sheet and NII analytics for senior management, ALCO, and regulatory forums.
• Ensure transparency, documentation, and governance alignment in all strategic recommendations.
• Partner with Investment Portfolio, Liquidity, Capital Management, Technology, and Finance to improve balance sheet analytics, processes, and systems.
• Contribute to the ongoing enhancement of balance sheet models, data infrastructure, and reporting automation initiatives.
• Provide thought leadership on market trends, yield curve dynamics, and competitive positioning.

Qualifications

• Bachelor’s degree in Finance, Economics, Accounting, Statistics, Mathematics or a related quantitative field; MBA or Master’s degree preferred.
• Professional certifications such as CFA, FRM, or PRM are preferred.
• 15+ years of experience in Treasury, ALM, Liquidity Risk, Balance Sheet Management, or related functions within a bank or financial institution.
• Strong understanding of bank balance sheets, including deposits, securities portfolios, hedging strategies, wholesale funding, and liquidity frameworks.
• Experience supporting ALCO, senior management, and/or regulatory forums.
• Deep knowledge of balance sheet strategy, NII drivers, liquidity metrics, and interest rate risk.
• Strong analytical and financial modeling skills with the ability to translate complex analysis into executive‑level insights.
• Excellent written and verbal communication skills, including the ability to lead the development of senior management level presentations.
• Ability to operate effectively in a highly regulated environment with strong governance discipline.
• Advanced Excel and PowerPoint skills; experience with Power BI, ALM/QRM platforms and data tools strongly preferred.

Working Model:

Hybrid ()

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)

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!

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 [e-mail].

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.