Trader, Brokerage

Northern Trust; Chicago (IL); Hybrid; USD 116,000 - 197,000; Full time

Benefits offered by this job

401k and pension

Health and welfare benefits

Paid time off

Bonus program

Job summary

Northern Trust in Chicago, IL is seeking a Trader, Brokerage to execute institutional equity trades across the Americas in a hybrid work setup. You’ll collaborate with portfolio managers and sales traders to ensure best execution while managing risk and compliance.

Require a Bachelor’s degree, 3+ years of institutional equity trading, FINRA 7/57/63 licenses; CFA or MBA preferred. Strong knowledge of market structure and analytics to evaluate trade outcomes and improve processes is essential.

Qualifications

• Bachelor's degree or equivalent experience.
• Minimum 3 years of institutional equity trading, sales trading, or related buy side or sell side market experience.
• CFA, MBA, or other advanced credentials are preferred. Experience with trading data, analytics, and execution technology is also preferred.
• FINRA Series 7, 57, and 63 licenses required.
• Strong understanding of equity market structure, liquidity dynamics, execution venues, and algorithmic trading strategies.
• Demonstrated ability to manage order flow and make sound execution decisions in fast changing markets.
• Proven commitment to best execution, risk management, and operational discipline.
• Strong communication and relationship management skills, with the ability to interact effectively with institutional clients and internal stakeholders.
• Experience utilizing execution analytics and transaction cost analysis to evaluate trading outcomes and support decision making.

Responsibilities

• Execute institutional equity orders across market conditions while adhering to client instructions and best execution standards.
• Determine appropriate execution strategies, broker selection, and algorithm usage based on liquidity, market conditions, and trading objectives.
• Partner with portfolio managers, investment teams, and regional trading desks to ensure seamless trade flow and clear communication throughout the trading lifecycle.
• Monitor execution quality, identify risks, market developments, and operational issues, and elevate concerns as appropriate.
• Operate within established trading limits, entitlements, and control frameworks while maintaining compliance with firm policies and regulatory requirements.
• Support audit, compliance, and regulatory reviews through accurate documentation of trading decisions, execution rationale, and outcomes.
• Utilize pre trade and post-trade transaction cost analysis, along with other execution analytics, to inform trading decisions and evaluate execution performance.
• Improve trading workflows, controls, processes, and technology that support execution quality and operational effectiveness.
• Maintain productive relationships with brokers, counterparties, and internal stakeholders to support execution and market intelligence gathering.
• Communicate execution strategies, market insights, and trading outcomes to internal and external stakeholders.

Skills

Communication

Relationship management

Education

Bachelor's degree

CFA or MBA

Tools

Execution analytics tools

Trading platforms

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.

Trader, Brokerage

Job Summary

The Trader is responsible for executing and overseeing institutional equity trading activity across the Americas.

The role requires sound execution judgment, a strong understanding of market structure, and the ability to operate effectively within established best execution, risk, and control frameworks.

The Trader works closely with portfolio managers, trading colleagues, and sales traders to deliver high-quality execution outcomes while maintaining a disciplined focus on risk management, operational excellence, and regulatory compliance.

Major Duties

• Execute institutional equity orders across market conditions while adhering to client instructions and best execution standards.
• Determine appropriate execution strategies, broker selection, and algorithm usage based on liquidity, market conditions, and trading objectives.
• Partner with portfolio managers, investment teams, and regional trading desks to ensure seamless trade flow and clear communication throughout the trading lifecycle.
• Monitor execution quality, identify risks, market developments, and operational issues, and elevate concerns as appropriate.
• Operate within established trading limits, entitlements, and control frameworks while maintaining compliance with firm policies and regulatory requirements.
• Support audit, compliance, and regulatory reviews through accurate documentation of trading decisions, execution rationale, and outcomes.
• Utilize pre trade and post-trade transaction cost analysis, along with other execution analytics, to inform trading decisions and evaluate execution performance.
• Improve trading workflows, controls, processes, and technology that support execution quality and operational effectiveness.
• Maintain productive relationships with brokers, counterparties, and internal stakeholders to support execution and market intelligence gathering.
• Communicate execution strategies, market insights, and trading outcomes to internal and external stakeholders.

Knowledge, Skills, And Experience

• Bachelor's degree or equivalent experience.
• Minimum 3 years of institutional equity trading, sales trading, or related buy side or sell side market experience.
• CFA, MBA, or other advanced credentials are preferred. Experience with trading data, analytics, and execution technology is also preferred.
• FINRA Series 7, 57, and 63 licenses required.
• Strong understanding of equity market structure, liquidity dynamics, execution venues, and algorithmic trading strategies.
• Demonstrated ability to manage order flow and make sound execution decisions in fast changing markets.
• Proven commitment to best execution, risk management, and operational discipline.
• Strong communication and relationship management skills, with the ability to interact effectively with institutional clients and internal stakeholders.
• Experience utilizing execution analytics and transaction cost analysis to evaluate trading outcomes and support decision making.

Hybrid

Salary Range

$116,100 - 197,300 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.

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.