About Northern Trust
As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions.
Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.
With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.
Job Description Summary:
Manage municipal bond portfolios for individual and institutional clients and funds, aligning investment decisions with client objectives, risk tolerance, tax considerations, and income needs. Apply municipal market expertise, disciplined portfolio construction, and strong technology skills to implement investment strategies, monitor risk and performance, and improve portfolio-management workflows. Communicate portfolio positioning and results clearly to clients and contribute to the ongoing development of investment analytics and processes.
Major Duties:
- Municipal portfolio management: Manage municipal bond portfolios for fiduciary and agency accounts, high-net-worth individuals, pension accounts, and common funds in pursuit of client objectives and benchmark-relative performance, within established risk parameters and investment guidelines.
- Portfolio construction and trading: Implement investment strategy through municipal security selection, sector allocation, duration and yield-curve positioning, and specific trades. Incorporate credit quality, diversification, liquidity, maturities, calls, and reinvestment needs into portfolio decisions.
- Client objectives and guidelines: Work with clients to develop investment objectives and guidelines that reflect risk tolerance, tax considerations, and income needs. Align portfolio structure with those objectives, current investment policy, economic factors, and municipal market conditions.
- Risk and performance oversight: Evaluate appropriate performance benchmarks in accordance with established investment policy. Monitor portfolio returns, exposures, and positioning against the applicable benchmark and client guidelines; assess whether strategy remains appropriate as markets and client needs change.
- Technology and process improvement: Use portfolio-management systems and analytical tools to evaluate holdings, support trading decisions, monitor risk, and produce reports. Identify opportunities to improve data quality, streamline recurring workflows, and strengthen investment analysis.
- Client analysis and communication: Prepare portfolio analyses for existing and prospective clients. Lead periodic discussions of performance, positioning, strategy, and reporting, and respond to client inquiries.
- Market knowledge: Maintain current knowledge of municipal markets and fixed-income developments through economic research, market contacts, and continuing education.
Qualifications:
- A minimum of ten years of investment-management and financial-markets experience, including at least five years portfolio management and trading.
- Minimum of five years municipal fixed-income experience, including hands-on portfolio management and trading, with demonstrated knowledge of municipal market structure, credit considerations, and portfolio risk.
- Knowledge of portfolio-management theory, statistics, and quantitative methods in finance, with the ability to apply these disciplines to portfolio construction, risk assessment, and performance analysis.
- Strong proficiency with portfolio-management systems and investment analytics, including the ability to interpret data, evaluate holdings and exposures, support trading decisions, and generate clear reports.
- Knowledge of fiduciary responsibilities and the legal and regulatory requirements governing investment decisions, with the ability to apply applicable laws, codes, regulations, and investment guidelines.Ability to explain portfolio decisions, investment risks, and performance clearly to clients and other stakeholders.
Preferred Qualifications:
- Experience improving investment workflows through automation, analytical-tool development, or more effective use of portfolio data and technology.
- Strong knowledge of Perform and/or experience using Aladdin.
Salary Range:
$137,400 - 233,600 USDSalary 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.
Work Authorization
Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).
Working with Us
As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve.
Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.
Reasonable Accommodation
Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [email protected], or alternatively you can discuss your individual requirements with the recruiter you are working with.
Skills Required
- At least 10 years of investment-management and financial-markets experience
- At least 5 years of portfolio management and trading experience
- At least 5 years of municipal fixed-income experience, including hands-on portfolio management and trading
- Knowledge of municipal market structure, credit considerations, and portfolio risk
- Knowledge of portfolio-management theory, statistics, and quantitative methods in finance
- Ability to apply quantitative disciplines to portfolio construction, risk assessment, and performance analysis
- Strong proficiency with portfolio-management systems and investment analytics
- Ability to interpret data, evaluate holdings and exposures, support trading decisions, and generate clear reports
- Knowledge of fiduciary responsibilities and legal and regulatory requirements governing investment decisions
- Ability to apply applicable laws, codes, regulations, and investment guidelines
- Ability to explain portfolio decisions, investment risks, and performance clearly to clients and stakeholders
- Experience improving investment workflows through automation, analytical-tool development, or improved use of portfolio data and technology
- Strong knowledge of Perform and/or experience using Aladdin
Northern Trust Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Northern Trust and has not been reviewed or approved by Northern Trust.
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Retirement Support — A 401(k) with company match alongside an employer‑funded defined‑benefit pension is highlighted in employer‑verified materials and filings, setting the retirement package apart from many private employers.
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Leave & Time Off Breadth — PTO is portrayed as solid overall, and two paid volunteer days per year are clearly documented across corporate materials.
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Parental & Family Support — Company sources and postings reference paid parental and caregiver leave and recent enhancements to parental benefits, indicating meaningful family support within the package.
Northern Trust Insights
What We Do
As a global leader in innovative wealth management, asset servicing and investment solutions, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families and institutions by remaining true to our enduring principles of service, expertise and integrity. A globally recognized Fortune 500 Company in continuous operation since 1889, we’ve built a legacy of empowering clients to reach their goals with confidence. Since our roots as a trust bank, we’ve grown to a global presence with more than 24,000 employees in more than 20 countries and across six core business units: Wealth Management Asset Management Asset Servicing Technology Corporate Functions Enterprise Operations Join a Team That’s Achieving Greater At Northern Trust, we refer to our employees as partners – with good reason. We understand that relationships are the key to our success. Here you’ll join a diverse and inclusive team of innovators with the drive to challenge the way things have always been done. Instead of choosing between a dynamic career and work-life balance, enjoy working with a team that supports your goals in the office and at home. We’ll help you get where you want to go without sacrificing what matters most to you. Delivering value and adhering to our enduring principles What are enduring principles? Since our founding, they have guided our strategy and success. Thanks to the dedication of our partners, Northern Trust continues to thrive by adhering to three enduring principles: service, expertise and integrity . What does this mean? Service Northern Trust has a relentless drive to provide exceptional service to our clients, our partners and our communities. We set new standards and go above and beyond in our commitment to delivering greater results. Expertise Expertise is at the core of who we are. We focus sharply on what we do well. From expanding our capabilities, to hiring talented professionals to developing innovative solutions, our expertise is why we continue to be a trusted advisor for generations of families and institutions. Integrity Operating with uncompromising ethics is central to Northern Trust’s heritage. As a result, our clients, partners and communities know they can rely on us. For more than 130 years, our integrity has been our guide – and that will never change.
Why Work With Us
At Northern Trust, we go further because we go together. We embrace flexibility, encourage balance, and prioritize inclusion at all levels, working together to keep you connected. We are committed to our employees—all 24,000 of them. Whether this is a first step or a bold new leap in your career, we’re here to help you move forward.
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