Trader, Liquidity Management (Finance)
About Northern Trust:
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
The Trader, Liquidity Management is responsible for managing the cash positions of various currencies, and collateral positions for the bank. They direct purchase and sale of funds, repurchase agreements (repo), FX Swaps and other money market instruments. The also control and report to senior management daylight overdraft compliance and complex issues.
Major Duties :
1. Responsible for maintaining the Bank's reserve position or clearing balance for all managed currencies.
2. For all managed currencies:
• Consolidate funds from various Northern Trust entities through the execution of intercompany borrowings/loans at "Arm's length" market rates.
• Invest excess cash/borrow cash shortages via time deposits, repo or FX Swap transactions within established risk limits.
3. Forecast daily funding needs of the Bank and implement a funding strategy to meet those needs
through the purchase and sale of short term money market instruments (Fed Funds, Repo, Eurodollar, FHLB Advances).
4. Determining the interest rates the Bank will pay or receive on wholesale money market instruments.
5. Employ funding strategies to achieve the lowest cost funds, within established liquidity constraints, for the Bank.
6. Monitor market conditions via news sources, communications with brokers/dealers and counterparties.
7. Manage the utilization of the Bank's securities and loan collateral to support borrowings, regulatory requirements and participation in various Financial Market Utilities.
8. Assimilates and communicates information throughout the Bank in order to manage the reserve account.
9. Acts as a liaison to the various Central Banks regarding the execution of direct transactions (discount window borrowings, investments, etc.), collateral management, and other issues.
10. Compiling data from financial management to understand and communicate drivers of balance sheet changes.
11. Provides informal guidance to new team members
Knowledge :
• Knowledge of accounting, usually acquired through formal education or experience, to plan funding/investment position.
• Knowledge of Central Bank monetary policies and practices, interest rate, foreign exchange and credit markets and theory, usually acquired through formal education or experience, to monitor and manage cash positions in various currencies.
• Knowledge of banking operations, usually acquired through experience, to understand and project balances and positions.
• Ability to apply a wide variety of financial analysis and economic methodologies to understand and interpret market behavior and make financial decisions.
• Requires expanded conceptual knowledge in own job discipline
• Understands key business drivers; uses this understanding to accomplish own work
• Explains complex information to others in straightforward situations
• Analytical skills are needed to resolve exceptions.
• Ability to use various software packages to compile data for reports and to purchase and sell funds.
Experience :
• Thorough business knowledge, acquired through 5 years of corporate experience, or 3 years of work experience preferably in the financial markets or in bank operations with related four year degree.
Salary Range:
$80,800 - 133,400 USD
Salary 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.
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com .
We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.
