Senior Structured Product Analyst

Northern Trust - Chicago, IL

Full-time - Senior

Chicago, IL

10,001+ employees

Real Estate

About the position

The Senior Structured Product Analyst at Northern Trust plays a critical role in evaluating credit risk associated with the Bank's investment portfolio and derivatives activities. This position requires a comprehensive approach to gathering, organizing, analyzing, and presenting financial data to support informed decision-making. The analyst will act as the primary liaison between the Credit Policy and Treasury groups, ensuring that all credit-related products are thoroughly assessed and that any necessary changes to credit stress analysis are recommended. In this role, the analyst will perform complex financial and credit analysis using publicly available information, integrating conclusions with outside opinions and rating agency data. They will be responsible for recommending the suitability of securities for the Bank's investment portfolio, in conjunction with the Credit Policy and Asset-Liability Committee (ALCO). Monitoring and reporting on investment portfolio and derivative exposures against established limits is a key responsibility, as is the immediate notification of Treasury and Credit Policy regarding any investments that require review for sale. The Senior Structured Product Analyst will also conduct pre-purchase credit analysis on all credit-related products, recommend changes to investment and derivative limits, and ensure timely reviews and documentation of issuers and industry sectors. They will update counterparty limits and ratings, generate unsettled trade exception reports, and perform monthly Other-Than-Temporary Impairment (OTTI) screenings of the portfolio. Additionally, the analyst will manage the annual ratings process for all securities in the Treasury investment portfolio to fulfill Advanced Internal Ratings-Based (AIRB) requirements, and prepare and present regular reporting for Credit Policy, ALCO, and Counterparty Risk committees. This position requires a high level of analytical and presentation skills, as well as the ability to operate independently and provide comprehensive consulting and leadership to team members and partners.

Responsibilities

• Perform complex financial and credit analysis using publicly available information, integrating conclusions with outside opinions and rating agency data.
• Recommend suitability of securities for the Bank's investment portfolio with concurrence of Credit Policy and ALCO.
• Monitor and report investment portfolio and derivative exposures against limits.
• Immediately notify Treasury and Credit Policy of any investments that require review for sale.
• Perform pre-purchase credit analysis on all credit-related products and recommend changes to credit stress analysis as needed.
• Recommend new (or changes to) investment and derivative limits and coordinate formal submission through credit committee approval process.
• Ensure that issuers and industry sectors are reviewed, analyzed, and documented on a timely basis.
• Recommend approvals to Credit Policy for counterparty exposures on Interest Rate Swap Guidelines, Deposit Guidelines, and Unsettled Security Guidelines.
• Update counterparty limits and ratings.
• Generate unsettled trade exception report.
• Perform monthly OTTI screening of the portfolio, confirming findings with Credit Policy and Accounting Policy.
• Manage annual ratings process for all securities in Treasury investment portfolio to fulfill Advanced Internal Ratings-Based (AIRB) requirements.
• Prepare and present regular reporting for Credit Policy, ALCO, and Counterparty Risk as mandated by those committees.
• Serve as Treasury's representative on Counterparty Credit and Country Risk committees.
• Provide comprehensive, in-depth consulting and leadership to team and partners at the highest technical level.

Requirements

• Minimum six or more years of fixed-income securities or credit-related financial analysis experience.
• Experience analyzing various fixed-income securities.
• Knowledge of business and financial markets and ability to evaluate credit risk in debt instruments.
• Understanding of economic conditions and their impact on the holdings in the investment portfolio.
• Ability to comprehend standard legal matters related to structured debt instruments, usually acquired through formal education and work experience.
• Analytical and presentation skills are required to interpret offering statements and legal documents.
• Computer skills are required to gather and present information.

Benefits

• Flexible and collaborative work culture
• Opportunities for movement within the organization
• Access to senior leaders
• Commitment to assisting the communities served
• Reasonable accommodations for individuals with disabilities
• Inclusive workplace with flexible working requirements