Director – Balance Sheet Optimization

Northern Trust

. Develop and maintain an integrated balance sheet strategy across deposits, investments, funding, and capital, aligned with the firm’s risk appetite, regulatory requirements, and business objectives.

Posted 5/19/2026full-timeChicago • Illinois • 🇺🇸 United StatesLead💰 $164,600 - $288,000 per yearWebsite

About the role

Key responsibilities & impact

Develop and maintain an integrated balance sheet strategy across deposits, investments, funding, and capital, aligned with the firm’s risk appetite, regulatory requirements, and business objectives.
Evaluate trade‑offs between earnings, liquidity, interest rate risk, and capital under multiple market environments and stress scenarios.
Support balance sheet growth and optimization initiatives through data‑driven analysis and actionable strategic recommendations.
Analyze Return on Equity (ROE), Risk-Weighted Assets (RWA), liquidity consumption, and capital efficiency for balance sheet‑intensive activities.
Partner with business lines to evaluate deposit flows, pricing, and liquidity value across client segments and products.
Support deposit monetization strategies, including pricing optimization and balance sheet allocation decisions.
Assess liquidity buffers and contingent funding considerations and incorporate impacts into financial outlooks and strategic plans.
Support in the development of NII forecasts and sensitivity analysis, and assess impacts to interest rate risk metrics (e.g., NII shock, MVE).
Evaluate hedging and investment strategies to manage interest rate risk while supporting earnings objectives.
Ensure consistency across forecast assumptions, deposit betas, investment strategies, and approved balance sheet initiatives.
Produce and present balance sheet and NII analytics for senior management, ALCO, and regulatory forums.
Ensure transparency, documentation, and governance alignment in all strategic recommendations.
Partner with Investment Portfolio, Liquidity, Capital Management, Technology, and Finance to improve balance sheet analytics, processes, and systems.
Contribute to the ongoing enhancement of balance sheet models, data infrastructure, and reporting automation initiatives.
Provide thought leadership on market trends, yield curve dynamics, and competitive positioning.

Requirements

What you’ll need

Bachelor’s degree in Finance, Economics, Accounting, Statistics, Mathematics or a related quantitative field; MBA or Master’s degree preferred.
Professional certifications such as CFA, FRM, or PRM are preferred.
15+ years of experience in Treasury, ALM, Liquidity Risk, Balance Sheet Management, or related functions within a bank or financial institution.
Strong understanding of bank balance sheets, including deposits, securities portfolios, hedging strategies, wholesale funding, and liquidity frameworks.
Experience supporting ALCO, senior management, and/or regulatory forums.
Deep knowledge of balance sheet strategy, NII drivers, liquidity metrics, and interest rate risk.
Strong analytical and financial modeling skills with the ability to translate complex analysis into executive‑level insights.
Excellent written and verbal communication skills, including the ability to lead the development of senior management level presentations.
Ability to operate effectively in a highly regulated environment with strong governance discipline.
Advanced Excel and PowerPoint skills; experience with Power BI, ALM/QRM platforms and data tools strongly preferred.

Benefits

Comp & perks

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

ATS Keywords

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Applicant Tracking System Keywords

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Hard Skills & Tools

balance sheet strategyliquidity riskfinancial modelingNII forecastsinterest rate riskhedging strategiesdata-driven analysiscapital efficiencyrisk-weighted assetsdeposit monetization

Soft Skills

analytical skillscommunication skillsleadershipstrategic thinkingcollaborationpresentation skillsgovernance disciplineexecutive-level insightsproblem-solvingadaptability

Certifications

CFAFRMPRMMBAMaster's degree