Director - Balance Sheet Optimization

Northern Trust Corp; Chicago (IL); On-site; USD 137,400 - 233,600; Full time

Benefits offered by this job

401k and pension benefits

Paid time off

Health and welfare benefits

Job summary

A leading financial institution is seeking a Specialist for Balance Sheet Optimization in Chicago, IL. The role requires developing strategies to optimize the bank’s balance sheet across various financial components. The ideal candidate will have over 10 years of experience in Treasury or Balance Sheet Management and possess strong analytical skills. This hybrid role combines in-office and remote work, offering a competitive salary ranging from $137,400 to $233,600 USD along with comprehensive benefits and a discretionary bonus program.

Qualifications

• 10+ years of experience in Treasury, ALM, Liquidity Risk, or Balance Sheet Management.
• Strong understanding of bank balance sheets, including deposits and liquidities.
• Ability to operate effectively in a regulated environment.

Responsibilities

• Develop integrated balance sheet strategies across various financial aspects.
• Analyze and support balance sheet growth initiatives with data-driven recommendations.
• Produce and present balance sheet analytics for senior management.

Skills

Strong analytical and financial modeling skills

Excellent written and verbal communication

Deep knowledge of balance sheet strategy

Education

Bachelor’s degree in Finance, Economics, Accounting

MBA or Master’s degree preferred

Tools

Advanced Excel

Power BI

ALM/QRM platforms

Job description

Specialist - Balance Sheet Optimization page is loaded## Specialist - Balance Sheet Optimizationremote type: Hybridlocations: Chicago, ILtime type: Full timeposted on: Posted Yesterdayjob requisition id: R152352**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 Specialist - Balance Sheet Optimization is responsible for developing and executing 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 role 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 Specialist delivers 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.* 10+ 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 (#LI-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 and working from home.Salary Range:$137,400 - 233,600 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 [e-mail] 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.