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Senior Principal, Trade & Settlements

Job in Chicago, Cook County, Illinois, 60290, USA
Listing for: Northern Trust Corp
Full Time position
Listed on 2026-10-20
Job specializations:
  • Software Development
    Software Architect
Salary/Wage Range or Industry Benchmark: 165000 - 288000 USD Yearly USD 165000.00 288000.00 YEAR
Job Description & How to Apply Below
# Role Summary The Senior Principal - Trade & Settlements is the senior architecture leader accountable for defining and governing the technology architecture for Settlements Modernization. The role will establish the target-state architecture, transition roadmap and architectural guardrails required to move from a distributed settlement landscape toward an integrated, scalable global settlement ecosystem.

As the modernization matures, the remit will expand from settlement architecture to end-to-end Trade & Settlements architecture, providing architectural direction across trade capture, routing and orchestration, core processing/books and records, market and settlement access, data, reporting, controls, and downstream integrations.  #

Key Responsibilities
· Own the target-state architecture for Settlements Modernization, including current-state assessment, transition states, capability decomposition, application dispositioning and convergence roadmap.
· Provide end-to-end architecture leadership for the strategic settlement platform and its ecosystem, with TCS BaNCS GSP as the future settlement platform and controlled coexistence with legacy capabilities during phased market migration.
· Translate business, operational, regulatory, resilience and client requirements into architecture principles, reusable patterns, integration contracts and non-functional requirements.
· Define clear domain boundaries and architecture across trade capture, sanctions and sufficiency checks, FX initiation, settlement processing, market/depository connectivity, reconciliation, exception management and reporting.
· Drive simplification and rationalization of the Trade & Settlements application landscape, supported by evidence-based capability mapping, interface analysis and disposition decisions.
· Establish architecture governance for solution designs, APIs/events, data models, security, resilience, observability, cloud adoption and technical debt; ensure design decisions are documented and traceable.
· Partner with product, engineering, operations, risk, information security, infrastructure, data and enterprise architecture teams to ensure modernization decisions work across technology and the operating model.
· Own architectural readiness for market and regulatory change, including evolving settlement cycles and depository/market infrastructure transformations.
· Guide engineering teams through modernization execution. Resolve cross-domain architectural issues, identify dependencies early and provide pragmatic decisions that balance strategic direction with delivery risk.
· Develop architecture talent and a strong community of practice across Trade & Settlements, raising standards for design quality, documentation and technical decision-making.
· Evolve into the principal architecture authority for overall Trade & Settlements, ensuring coherent architecture and investment choices across the complete trade lifecycle.  # Expected Outcomes
· A documented and governed target architecture for Settlements Modernization with clear transition states and migration guardrails.
· Reduced architectural fragmentation through reusable integration, data and platform patterns and explicit application dispositioning.
· Improved resilience, control transparency, scalability and data availability across settlement processing.
· A coherent multi-year Trade & Settlements technology roadmap aligned to business capabilities and market change.
· Faster, higher-quality architecture decisions with clear ownership, design traceability and measurable reduction of avoidable technical complexity.  # Qualifications / Experience
· 18+ years of Extensive experience in enterprise, solution or domain architecture for complex, regulated…
Position Requirements
10+ Years work experience
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