Trading Market Risk Management Professional (Chicago-HQ)

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 Trading Market Risk Professional will assist in monitoring market risk and developing risk analytics for the Northern Trust’s Capital Markets business and Global Treasury unit. The position reports to the Head of Corporate Trading Market Risk and Treasury Credit Risk.

The Trading Market Risk team is under the Financial Risk Management Department in the 2nd Line of Defense.

The key responsibilities of the role include:

Market Risk Monitoring and Oversight

• Perform core daily risk management oversight for FX Trading business including VaR analysis, open position monitoring, adherence to limits, and stress scenario modeling.
• Monitor market volatility through quantitative techniques to ensure principal exposure is within firm’s risk appetite.
• Maintenance of data and providing information for regulatory reports, and internal Audit/ Compliance.
• Maintain and assist in ongoing development of metrices and analysis of P&L attribution, regulatory capital consumption and return on capital / RWA.
• Assist in establishing processes, documentation, reporting, and controls to manage risks associated with FX and derivatives.
• Collaborate with IT teams to ensure smooth integration of models and analytical tooling in existing systems and infrastructure.
• Act as liaison with business units (FX Trading Desks, Securities Finance, Treasury) and internal control functions including Audit, Compliance and Model Validation team and assist in the resolution of any audit or control issues related to FX products.

Risk Analytics and Change Projects

• Conduct quantitative analysis to assess model performance and outcome for at top of the house portfolio and trading desk level.
• Interpret model outputs and communicate findings to stakeholders, including risk managers, capitals market team, and senior management.
• Responsible for leading the development of NT’s FRTB capabilities in accordance with the regulatory rules and expectations, with a focus on delivering FRTB Implementation.
• Develop analytical tooling to support FRTB capital analysis.
• Support risk analysis for Securities Finance counterparty portfolios as required by Credit Risk Management Policies. Responsibilities include – VaR model execution, analysis of results and presentation to Committees.
• Prepare ad hoc risk analysis as required by senior business or risk personnel or as required for proposed products or services.

Education level and/or relevant experience(s)

• Bachelor’s degree in finance, mathematics, economics or related discipline
• Master's or higher degree in business, Quantitative Finance, Economics or a related field of study preferred
• 5 plus years of relevant work experience with foreign exchange or derivatives experience preferred or equivalent in VaR/ FRTB/Derivatives asset pricing or related quantitative fields
• Expert level of Excel VBA for reporting development and MS Office
• Professional certifications (FRM, CFA) or familiarity with risk management and analysis, preferred.

The successful candidate will benefit from having:

• Knowledge of Capital Markets and financial products such as Foreign Exchange, Securities Lending, Repos, and Fixed Income securities is preferred.
• Understanding of VaR, stress testing, and valuation of capital markets transactions
• Database management
• Experience with Excel VBA coding/building prototype risk models and reporting using Python, R, SQL etc.
• Must be comfortable working in fast paced environment with ability to make and communicate effective risk management decisions.
• Ability to articulate risk management policies and methodologies.
• Strong interpersonal, relationship and negotiation skills.
• Excellent problem solving and analytical skills.
• Strong written and verbal communication skills.
• Ability to work independently with limited oversight.

#LI-LK2

#Hybrid

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.

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 [email protected].

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.