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ACCA Careers · 1 day ago

Bank Portfolio Manager - Interest Rate Derivatives and Hedging

Chicago, IL

Full-time

Onsite

Senior Level

$100K/yr - $169K/yr

7+ years exp

Northern Trust is a globally recognized financial institution that has been in 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.

Accounting

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, Super national 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

Hedge accounting knowledgeDerivatives products expertiseRisk management skillsMarket data systems SummitMarket data systems QRMMarket data systems BloombergAnalytical skillsQuantitative skillsOrganizational skillsCommunication skillsCritical thinking

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