Head of Bank Portfolio Management

Chief Bank Portfolio & Balance Sheet Hedging Manager

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust 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 Chief Bank Portfolio & Balance Sheet Hedging Manager is a senior leader within Corporate Treasury responsible for the strategic management of the firm's global bank investment portfolio and balance sheet interest-rate hedging activities. Reporting directly to the Treasurer, the role establishes and executes the investment and hedging strategy for Treasury-managed assets and structural balance sheet exposures, with the objectives of optimizing net interest income (NII), economic value, liquidity, capital efficiency, and risk-adjusted returns within the firm's approved risk appetite and regulatory requirements.

The role serves as the Treasurer's principal executive for translating the firm's balance sheet, liquidity, interest-rate, deposit, and macroeconomic outlook into an integrated investment and hedging strategy. This leader will partner closely with Asset-Liability Management, Liquidity Management, Capital Management, Finance, Risk, Markets, Economics, and business-line senior stakeholders to ensure that investment portfolio and hedging decisions are aligned with the firm's broader balance sheet strategy.

• Lead strategy, construction, and management of the firm's Treasury investment portfolio, optimizing yield, liquidity, duration, capital efficiency, accounting outcomes, and risk-adjusted returns across approved asset classes and portfolio classifications.
• Own the design and execution of Treasury's structural hedging program, translating balance sheet exposures into hedge strategies that manage duration, repricing risk, NII volatility, economic value sensitivity, and accounting outcomes.
• Support sustainable NII and margin performance while partnering with ALM to manage interest-rate risk across NII sensitivity, EVE, DV01/PV01, key-rate exposures, deposit behavior, basis risk, optionality, and stress scenarios.
• Ensure investment and hedge strategies support liquidity resilience, HQLA, LCR/NSFR, monetization capacity, capital efficiency, RWA, AOCI/OCI, hedge accounting, and regulatory expectations.
• Serve as Treasury's senior market strategist and execution leader, translating macro, rate, yield-curve, liquidity, and credit-market views into portfolio and hedge actions while ensuring disciplined execution, controls, policies, limits, and senior governance communication.
• Establish forward-looking analytics, stress testing, scenario analysis, and performance attribution covering market movements, portfolio positioning, funding changes, hedge effectiveness, liquidity value, capital utilization, NII-at-risk, EVE sensitivity, and risk-adjusted return.
• Build and lead a high-performing global Treasury investment and hedging organization with clear accountability, strong talent development, succession planning, cross-functional collaboration, analytical rigor, disciplined risk management, and effective controls.
• Recommend and/or execute decisions across asset allocation, duration, yield-curve and sector positioning, investment timing, securities transactions, hedge size, tenor and instrument selection, reinvestment strategy, liquidity positioning, and risk-limit utilization; escalate material strategic changes to the Treasurer and appropriate governance committees.

• 15+ years of progressively senior experience in Treasury, bank portfolio management, asset-liability management, fixed income, interest-rate…