Head of Risk Management

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.

We are seeking an experienced Risk Manager to join our investment team and oversee risk across a diversified portfolio of external hedge fund managers. This role focuses on portfolio‑level risk aggregation, manager‑level due diligence, and forward‑looking risk analytics to support investment decision‑making. The ideal candidate will act as a strategic partner to the investment team, providing actionable insights on portfolio construction, diversification, and downside risk management.

Portfolio Risk Oversight

Monitor and aggregate risk exposures across underlying hedge funds by strategy, asset class, and geography

Assess market, liquidity, concentration, leverage, and tail risks

Ensure alignment with risk budgets and investment objectives

Manager Risk Assessment

Conduct risk‑focused due diligence on hedge fund managers

Evaluate strategy risk, leverage, derivatives use, and drawdowns

Risk Analytics & Reporting

Maintain VaR, stress testing, and scenario analysis models

Build dashboards and deliver risk reporting to senior stakeholders

Provide actionable insights to investment decision‑makers

Liquidity & Capital Planning

Monitor portfolio liquidity versus investor redemption terms

Identify hidden correlations and portfolio risks

Support investment decisions with forward‑looking risk views

Ongoing Monitoring & Surveillance

Track risk metrics regularly

Participate in ongoing manager monitoring

3‑5 years in hedge fund risk management, fund of funds, asset management, risk management or related roles

Bachelor’s degree in Finance, Economics, Mathematics, or related field. Strong understanding of hedge fund strategies

Expertise in VaR, stress testing, and risk modeling

Proficiency in Excel, Power BI, or SQL

Ability to interpret limited transparency data

Excellent communication and stakeholder management

Northern Trust provides a comprehensive benefits package including retirement benefits (401(k) 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.

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 View email address on click.appcast.io.

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