Sr. Analyst - Balance Sheet Modeling and Analytics

001 The Northern Trust Company; Chicago (IL); Hybrid; USD 100,000 - 169,000; Full time

Job summary

The Northern Trust Company is seeking a senior ALM modeling professional in Chicago to maintain and advance deposit and balance sheet models. You will work within the Asset Liability Management Modeling team, delivering model insights for liquidity and interest-rate risk management.

Qualifications include a graduate quantitative degree and 4–7 years’ experience in financial modeling. Proficient with SAS, Python, SQL, Excel, and PowerBI, with strong communication and governance skills.

Qualifications

• Graduate degree in Statistics, Math, Econometrics, Engineering or related quantitative field.
• 4-7 years of quantitative modeling experience within a financial institution or similar environment.
• Experience with ALM modeling and governance, including model documentation and validation processes.

Responsibilities

• Drive development and maintenance of ALM models (prepayment, core deposit, operational deposit).
• Run monthly model outputs and address questions on results.
• Lead model documentation and annual validation with Model Risk Management and audits.
• Develop and deploy new model framework; specify data needs and testing.
• Collaborate with team members to address regulatory and business needs; communicate clearly to management.

Skills

Asset Liability Management

Interest Rate Risk

Liquidity Risk Management

Balance Sheet Modeling

Communication Skills

Education

Graduate degree in Statistics, Math, Econometrics, Engineering or related quantitative field

Tools

SAS

Python

SQL

Excel

PowerBI

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. The Balance Sheet Modeling Senior Analyst will be responsible for maintaining and developing quantitative models used in Asset Liability Management process and Liquidity management. The successful candidate will be a member of the Asset Liability Management Modeling team and help lead the development and maintenance of the deposit modeling and analytical framework and other ALM models. Ideally, the prospective candidate will have experience with ALM modeling and programming knowledge of SAS and Python. Working knowledge of relational databases, strong understanding of ALM modeling framework, balance sheet management, interest rate risk measurement approaches are preferred. The prospective candidate should have a working knowledge of the three lines of defense and ideally experience working closely with second line risk management and third line internal audit groups.

Duties

• Drive the development and maintenance of ALM models, including the prepayment model, core deposit model, operational deposit model, etc.
• Responsible for the monthly production runs, fielding questions related to the model output
• Lead the documentation of the models and take the models through the model validation process and annual reviews by Model Risk Management team and any auditing process
• Develop and deploy new model framework, identify data requirements, conduct testing, and complete model documentation
• Work with the other ALM model team members to identify new modeling and analytical needs and enhancements to improve model performance and address regulatory requirements
• Provide in-depth knowledge and perspective on the risk drivers in the models
• Communicate modeling framework and details in a clear and concise manner to senior management, internal oversight groups, and external regulators
• Ensure compliance with global regulatory requirements and expectations that govern Interest Rate Risk, liquidity risk, and modeling practices
• Support balance sheet execution strategies with the Funding and Portfolio Management Teams

Qualifications

• Graduate degree in Statistics, Math, Econometrics, Engineering or other quantitative fields
• 4-7 years of quantitative modeling experience within a financial institution, consulting firm, regulatory agency, or a related financial services environment
• Demonstrated experience developing, implementing, or maintaining production analytical models within a regulated financial institution
• Strong understanding of Asset Liability Management, Interest Rate Risk, Liquidity Risk Management, and balance sheet behavior modeling
• Proficient in SAS, Python, SQL, Microsoft Excel and PowerBI
• Strong analytical and quantitative skills, with the ability to apply critical thinking and structured problem-solving to complex business and modeling challenges
• Experience working within model governance frameworks and collaborating with Model Risk Management, Internal Audit, and regulatory stakeholders
• Demonstrated interest in leveraging artificial intelligence, machine learning, and advanced analytics techniques to enhance modeling frameworks, automate processes, improve forecasting accuracy, and support data-driven decision-making
• Excellent written and verbal communication skills, including the ability to clearly articulate complex modeling concepts and develop presentations for senior management and governance committees
• Proven ability to influence stakeholders, build consensus, and collaborate effectively across Treasury, Risk, and Technology teams
• Self-motivated team player with strong organizational skills and the ability to manage multiple priorities in a dynamic environment.

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

$99,600 - 169,200 USD Salary range is a good faith estimate of base pay.

Benefits

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.

Bonus Program

Northern Trust also provides a 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.

Looking for greater? You found it. A global financial leader with more than 22,000 employees in 23 locations worldwide, Northern Trust empowers our employees to achieve more than just business goals. Our focus on work-life balance, career mobility and unique opportunities are just a few of the reasons we’ve been named one of the world’s most admired companies.

Terms and Conditions

Candidate Privacy Notice California Applicant Privacy Notice Pay Transparency Nondiscrimination Provision (U.S) Transparency in Coverage Disclosure – North America Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1-800-807-0302 (North America), [phone] (Asia Pacific), 1800-425-0333 (India), [phone] (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

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 by 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.)