Interest Rate Risk, Specialist

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 worlds 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 22000 partners we serve the worlds most sophisticated clients using leading technology and exceptional service.

Interest Rate Risk Specialist

The Specialist will focus on overseeing interest rate risk management policies and limits communicating risk exposures to oversight committees and performing independent analysis and challenge of measurement methodologies and assumptions.

The position is in the second line of defense and will report directly to the Head of Liquidity and Interest Rate Risk Management as well as work closely with Treasury. This role provides an opportunity to continue to evolve the second line function at Northern Trust and serve as a trusted advisor to the business.

The key responsibilities of the role include:

• Preparing reports and communicating interest rate risk exposures to the Market and Liquidity Risk Committee and Risk Committee of the Board.
• Performing independent analysis and challenging asset and liability measurement methodologies (scenarios assumptions etc.).
• Recommending and advising on areas of enhancements and informing risk oversight committees of mitigation steps underway.
• Calibrating interest rate risk limits as well as monitoring the organizations overall interest rate risk profile.
• Independently producing QRM production results to verify accuracy as well as leading monthly production control meetings with Treasury.
• Maintaining and overseeing adherence with Interest Rate Risk Management policies and procedures.
• Assessing compliance with regulatory requirements and common industry practices applicable to interest rate risk and coordinating with regulators and/or internal audit during their reviews.
• Evaluating new products for potential interest rate risk impacts.

Knowledge/Skills:

• Experience with asset and liability management particularly within QRM is critical.
• Strong knowledge of financial services is expected and understanding of bank balance sheet and income statement dynamics including the risk characteristics of various asset and liability categories is a plus.
• Understanding of interest rate risk regulations and applying these expectations to practice is preferred.
• Strong analytical and communication skills are required to constructively challenge and influence the Treasury function as well as articulate key risks to the risk committee.
• Experience applying risk management commensurate with the organizations risk profile and regulatory requirements.

The successful candidate will benefit from having:

• 5 or more years of experience in one or more of the following areas of financial services is desired: treasury asset and liability risk management compliance or regulatory oversight auditing or consulting.
• Strong written and verbal communication skills.
• Experience with analytics within QRM SAS Excel and PowerPoint or other tools is preferred.

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Salary Range:

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.

Wed love to learn more about how your interests and experience could be a fit with one of the worlds most admired and sustainable companies! Build your career with us andapply 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 .

We hope youre 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.