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.
The Balance Sheet Modeling Senior Analyst will be responsible for maintaining and developing quantitative models used in Asset Liability Management process and Liquidity management. The successful candidate will be a member of the Asset Liability Management Modeling team and help lead the development and maintenance of the deposit modeling and analytical framework and other ALM models.
Ideally, the prospective candidate will have experience with ALM modeling and programming knowledge of SAS and Python. Working knowledge of relational databases, strong understanding of ALM modeling framework, balance sheet management, interest rate risk measurement approaches are preferred. The prospective candidate should have a working knowledge of the three lines of defense and ideally experience working closely with second line risk management and third line internal audit groups.
Duties:
- Drive the development and maintenance of ALM models, including the prepayment model, core deposit model, operational deposit model, etc.; Responsible for the monthly production runs, fielding questions related to the model output
- Lead the documentation of the models and take the models through the model validation process and annual reviews by Model Risk Management team and any auditing process
- Develop and deploy new model framework, identify data requirements, conduct testing, and complete model documentation
- Work with the other ALM model team members to identify new modeling and analytical needs and enhancements to improve model performance and address regulatory requirements
- Provide in-depth knowledge and perspective on the risk drivers in the models
- Communicate modeling framework and details in a clear and concise manner to senior management, internal oversight groups, and external regulators
- Ensure compliance with global regulatory requirements and expectations that govern Interest Rate Risk, liquidity risk, and modeling practices
- Support balance sheet execution strategies with the Funding and Portfolio Management Teams
Qualifications
- Graduate degree in Statistics, Math, Econometrics, Engineering or other quantitative fields
- 4-7 years of quantitative modeling experience within a financial institution, consulting firm, regulatory agency, or a related financial services environment
- Demonstrated experience developing, implementing, or maintaining production analytical models within a regulated financial institution
- Strong understanding of Asset Liability Management, Interest Rate Risk, Liquidity Risk Management, and balance sheet behavior modeling
- Proficient in SAS, Python, SQL, Microsoft Excel and PowerBI
- Strong analytical and quantitative skills, with the ability to apply critical thinking and structured problem-solving to complex business and modeling challenges
- Experience working within model governance frameworks and collaborating with Model Risk Management, Internal Audit, and regulatory stakeholders
- Demonstrated interest in leveraging artificial intelligence, machine learning, and advanced analytics techniques to enhance modeling frameworks, automate processes, improve forecasting accuracy, and support data-driven decision-making
- Excellent written and verbal communication skills, including the ability to clearly articulate complex modeling concepts and develop presentations for senior management and governance committees
- Proven ability to influence stakeholders, build consensus, and collaborate effectively across Treasury, Risk, and Technology teams
- Self-motivated team player with strong organizational skills and the ability to manage multiple priorities in a dynamic environment.
Working Model: Hybrid (#LI-Hybrid)
We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.
Salary Range:
$99,600 - 169,200 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
- Graduate degree in Statistics, Mathematics, Econometrics, Engineering, or another quantitative field
- 4-7 years of quantitative modeling experience in a financial institution, consulting firm, regulatory agency, or related financial services environment
- Experience developing, implementing, or maintaining production analytical models within a regulated financial institution
- Strong understanding of Asset Liability Management, Interest Rate Risk, Liquidity Risk Management, and balance sheet behavior modeling
- Proficiency in SAS, Python, SQL, Microsoft Excel, and Power BI
- Strong analytical and quantitative skills, critical thinking, and structured problem-solving abilities
- Experience working within model governance frameworks and collaborating with Model Risk Management, Internal Audit, and regulatory stakeholders
- Interest in using artificial intelligence, machine learning, and advanced analytics to improve modeling, automation, forecasting, and decision-making
- Excellent written and verbal communication skills, including explaining complex modeling concepts and preparing presentations for senior management and governance committees
- Ability to influence stakeholders, build consensus, and collaborate across Treasury, Risk, and Technology teams
- Strong organizational skills and ability to manage multiple priorities in a dynamic environment
- Working knowledge of relational databases
- Strong understanding of ALM modeling frameworks, balance sheet management, and interest rate risk measurement approaches
- Working knowledge of the three lines of defense and experience with second-line risk management and third-line internal audit groups
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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