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Consultant, Liquidity Risk (Stress Testing SME)

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Risk Management/Compliance
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75674 Requisition #
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The Liquidity Risk Consultant will serve as a liquidity stress testing subject matter expert, playing a key role in independently evaluating Northern Trust’s liquidity stress testing practices and serving in a risk advisory role to the business lines. This role will focus on challenging assumptions across a range of stresses - baseline, liquidity-specific, and resolution scenarios. Additionally, this role will perform independent analysis of behaviors under stress, such as conducting surprise tests of the bank’s Contingent Liquidity Plan.  

The position is in the second line of defense, will report directly to the Head of Liquidity and Interest Rate Risk Management, and will work closely with Treasury and business unit partners. There continues to heightening regulatory expectations and industry practices surrounding independent risk functions to provide oversight for liquidity activities. This role provides an opportunity to continue to expand the function at Northern Trust and serve as a trusted advisor to the business. 

Major Duties 

As Liquidity Risk Consultant, your responsibilities include: 

1. Independently reviewing and challenging Treasury’s liquidity stress testing, as well as liquidity components within resolution planning.

2. Performing ad hoc liquidity stress tests to inform senior management and oversight committees of potential liquidity risks and impacts.

3. Designing and executing surprise testing of the Contingent Funding Plan, and communicating the results to oversight committees.

4. Presenting the risk exposure and results of independent reviews to the Market and Liquidity Risk Committee, along with recommending and advising on areas of enhancements.

5. Overseeing dotted line partners that will assist with risk reporting and independent challenge 

6. Assessing compliance with regulatory requirements and common industry practices applicable to liquidity management
Knowledge/Skills

 • Strong knowledge of finance services is expected, and understanding of the balance sheet and the custody business and their implications to potential liquidity exposures is a plus 

• Understanding of investment portfolio products and the risks associated, including marketability under stress

• Knowledge of stress testing and resolution planning, inclusive of scenario and assumption development 

• Understanding of liquidity regulations and applying these expectations to practice (e.g. Enhanced Prudential Standards, LCR, NSFR, 2052a, SR 16-3)

• Experience applying risk management commensurate with the organization’s risk profile and regulatory requirements 

• Strong analytical and communication skills are required to constructively challenge and influence the Treasury function 

• Familiarity with treasury instruments, funding and investment activities, and cash and settlement practices is a plus

 • Candidates are anticipated to have strengths in some but not all areas of responsibility; therefore, the ability to take initiative to learn and apply new skills is critical 

 Experience 

• 5 or more years of experience in one or more of the following areas of financial services is desired: treasury, risk management, compliance or regulatory oversight, auditing, consulting, or financial reporting 

• Strong written and verbal communication skills 

• Experience with analytics within Excel, SQL, VBA, SAS, or other tools is a plus 


For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.  

We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.

As of December 31, 2018, Northern Trust Corporation had: 

$10.1 trillion in assets under custody/administration
$7.6 trillion in assets under custody 
$1.1 trillion in assets under management 
$132 billion in banking assets

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Reasonable Accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1-800-807-0302 (North America), +630-276-5353 (Asia Pacific), +44(0)207 982 4357 (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

Equal Employment Opportunity Statements
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    • APAC EEO STATEMENT

      It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

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