Associate Consultant, Risk Analytics - Model Validation

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.

Function: Model Validation
• Responsible for contributing to the validation of a complex quantitative risk models or capital Allocation framework for the Corporation (CCAR/CECL/IFRS9/PPNR)
• Understands and resolves complex issues in algorithms, models and other risk measurement frameworks, allocation of capital for performance measurement, or other aspects of risk measurement preferably in credit risk with a flavor of AI/ML approach.
• Hands on understanding of AI/ML algorithms like Regression, Decision Trees, Naïve Bayes, kNN, Random Forest, neural networks etc
• Strong Programming skills in SAS/R/Python etc

Major Duties
• Responsible for validating complex statistical and/or algorithmic models – Risk/Regulatory/Capital/Treasury/InterestRate/EconomicResearch/Fraud/Compliance models etc.
• Responsible for resolving complex issues in capital estimation, regulatory reporting, external financial statements or other aspects of risk measurement
• Responsible for quantitative model validations and/or overseeing quantitative analytical processes for risk and/or ensures regular production of analytical work and reports
• Evaluates existing framework in relation to corporate objectives and industry leading practices. Assesses development needs and manages process to achieve desired future state
• Provides technical/theoretical expertise to resolve risk issues and enhance overall risk framework
• Works with other risk teams to ensure that risk management policies/processes and quantitative modeling approaches are consistent
• Ensures that capital modeling and allocation approaches meet both internal corporate needs and regulatory requirements related to prevailing regulatory guidance.
• Works with project management team to track development efforts and resolve issues
• Operates independently; has in-depth knowledge of business unit / function
• Acts as subject area expert, provides comprehensive, in-depth consulting and leadership to team and partners at a high technical level
• Carries out complex activities with significant financial, client, and/or internal business impact
• Role is balanced between high level operational execution and development, and execution of strategic direction of business function activities
• Conducts preliminary analysis
• Responsible for interaction with different committees and/or management
• May be responsible for developing, implementing and administering programs within Risk Management for specific product(s)

Knowledge/Skills
• Excellent oral and written communication skills are required.
• Strong analytical and problem solving skills combined with conceptual and technical knowledge of risk concepts
• Technical and quantitative skills like regression (linear/logistic/multinomial), decision tree, SVM, Naive Bayes, kNN, K-Means, Random Forest etc
• Systems knowledge (e.g. SAS, R, Python, Advanced Excel, VBA) will be strongly preferred
• Conceptual understanding about AI/ML models and validation techniques

Experience Required
• A PhD or College or University degree and/or relevant proven work experience is required
• Advanced degree in related field (math, statistics, economics) or equivalent career experience preferred.
• Banking or similar Industry qualification is preferred.

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.