Chicago, IL
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 world's 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 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
The Head of Liquidity Stress Testing and Reporting will be responsible for leading the development of liquidity risk measurement framework components across the continuum, business as usual to resolution. The successful candidate will manage the Liquidity Stress Testing team and the development and maintenance of the enterprise liquidity stress testing framework, cash flow projections, and liquidity components of resolution planning. and liquidity components of the resolution planning process. The Head of Liquidity Stress Testing and Reporting will report to the Global Head of Liquidity Planning and Analysis.
Ideally, the prospective candidate will be a seasoned leader with balance sheet management experience primarily in the areas of Liquidity Risk Management. The prospective candidate should have a working knowledge of on and off balance sheet products and strategies, Liquidity Coverage Ratio (LCR)/Net Stable Funding Ratio (NSFR), FR 2052a reporting, risk framework design, risk identification and risk measurement approaches which are necessary to support a sound liquidity risk stress testing and measurement process. An understanding of intraday liquidity, financial market utilities (FMUs) and central security depositories (CSDs) operations would be beneficial but not required.
Primary Duties
- Manage the Liquidity Stress Testing and Reporting team/function. Work with the Global Head of Liquidity Planning and Analysis to set team objectives and strategic priorities. Lead the team's daily execution to ensure business objectives are achieved for liquidity stress testing and cash flow projection processes.
- Oversee the development of stress testing scenarios, frameworks, and methodologies that cover idiosyncratic, market, combined, and operational events. Partner with Balance Sheet Modelling team to ensure sound assumptions are developed that covers all products and external market considerations for business as usual to resolution.
- Work with global liquidity and resolution planning in the development of liquidity triggers that signal varying degrees of stress.
- Support the broader resolution planning effort by leading the build out of the liquidity components of the resolution plans. Provide in-depth knowledge and perspective on how key liquidity risk drivers would behave across the continuum, business as usual to resolution.
- Communicate financial issues in a clear and concise manner to senior management, internal oversight groups, and external regulators. Lead the development of robust documentation to support major assumptions, models used in liquidity risk measurement processes.
- Ensure compliance with global regulatory requirements and expectations that govern liquidity risk, resolution planning, stress testing, and modeling practices.
- Develop and deploy the enterprise liquidity Risk and Intraday liquidity frameworks.
- Coordinate balance sheet execution strategies with the Funding and Portfolio Management Teams.
- Develop, measure, and report legal entity liquidity risk components to the senior management, executive committees and supervisors.
- Develop and drive strategic liquidity analysis for the resolution plan.
- Lead coordination of intraday activities across the enterprise.
- Development and maintenance of the enterprise's contingency funding plan.
- Ensure consistent compliance with global liquidity supervisory regulations.
- Lead cross-functional and regional efforts to ensure collateral is effectively managed and optimized.
Qualifications
- 10-15 year's work prior liquidity risk management experience working in a financial institution, regulatory agency, consulting firm, or related field.
- A college or university degree in Accounting, Finance, Economics, Statistics, Math, Engineering or other quantitative field.
- Familiarity with Asset Liability Management, Liquidity Risk Management, and Funds Transfer Pricing.
- Proficient in Microsoft Excel and PowerBI.
- Strong analytical and quantitative skills, critical thinking, investigative problem-solving and decision-making talents.
- Strong written and verbal communication skills with the ability to lead the development of senior management level presentations.
- Organized and able to execute responsibilities with minimal supervision.
- Applies knowledge of key business drivers and the factors that maximize department performance.
- Persuades managers and leaders to take action and/or negotiates with external
- partners/vendors/clients.
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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.
We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply 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 you're 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.