Northern Trust · 1 day ago
Bank Portfolio Manager - Interest Rate Derivatives and Hedging
Chicago, IL
Full-time
Hybrid
Senior Level
$100K/yr - $169K/yr
7+ years expNorthern Trust is a globally recognized, award-winning financial institution that has been in continuous operation since 1889. The Portfolio Manager is responsible for managing interest rate risk in the bank's investment portfolio and executing derivatives transactions to achieve targeted risk profiles and optimize portfolio performance.
BankingFinanceFinancial ServicesWealth Management
Responsibilities
Develop hedging strategies, consistent with U.S. GAAP hedge accounting guidance, to manage interest rate risk within the bank’s investment portfolio, utilizing single asset/liability and macro level hedging
Manage the US Treasury and Sovereign, Supernational investments
Own and manage valuation and testing model while performing initial and ongoing effectiveness testing for hedging relationships
Works closely with internal partners (operations, accounting, credit, legal, etc.), providing leadership and coordination to manage issues related to the investment portfolio hedging program specifically, or Treasury generally, working across groups to execute solutions
Assists in evaluating and developing investment objectives and guidelines as appropriate given risk tolerances
Assists with execution of client related derivatives hedging as necessary
Complies with all policies and guidelines (Board, ALCO, Credit, Controllers, etc.) in managing interest rate risk
Maintain communication with brokers and dealers to monitor the market and to develop strategies
Participates in, or leads, sub-group or task force to revise or modify existing internal or external procedures, guidelines, or to review new products or strategies
Maintains awareness of current and pending legal and regulatory issues that impact the derivatives market or hedge accounting rules
Qualification
Required
7-10 years of investment experience is required
Knowledge of hedge accounting rules, derivatives products, bank balance sheet and asset/liability behaviors, usually acquired through experience and formal education, are needed
Knowledge of current banking regulations, and application to the balance sheet and investment portfolio, are necessary to determine proper portfolio allocations and risk analysis
Analytical and organizational skills, with knowledge of risk management and market data systems (Summit, QRM, Bloomberg) along with Excel are needed to analyze statistical information on investments, exposures and interest rate risk
Exceptional ability to organize and execute responsibilities with minimal supervision
Strong written and verbal communication skills
Exceptional analytical, quantitative skills and critical thinking
Preferred
A college or university degree in is preferred
Benefits
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
Other voluntary and well-being benefits
Discretionary bonus program that may include an equity component
Company
Northern Trust
Northern Trust is a global leader in delivering innovative investment management, asset and fund administration, fiduciary and banking.
10001+ employees
H1B Sponsorship
Northern Trust has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (180)
2024 (203)
2023 (102)
2022 (74)
2021 (298)
2020 (83)
Funding
Current Stage
Public CompanyTotal Funding
$1.25B2025-11-20Post Ipo Debt· $1.25B
1978-01-13IPO
Leadership Team
Michael O'Grady
President, Chief Executive Officer & Director
Peter Cherecwich
Chief Operating Officer
Recent News
Business Wire
2025-12-18
2025-12-11
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