Specialist - Model Governance

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.

Job Summary:

The Specialist, Model Risk Governance is a key position within Northern Trust’s model risk management function, charged with the responsibility of ensuring alignment & adherence of the model risk management program to the enriched enterprise risk management framework. As a key figure in the 2nd line of defense, this Specialist reports to the Head of Model Governance and will play a role in aligning the model risk management program to various enterprise risk management standards and educating model owners across the organization. The role will be instrumental in fostering a culture of proactive & effective model risk management through all phases of model risk management lifecycle.

The key responsibilities of the role include:

• Understand various Enterprise Risk Management (ERM) standards and assess how they may impact the model risk management program

• Identify specific updates needed to the Model Risk Management Policy, Procedures, templates to align with various ERM standards; work closely with other team members in performing this duty

• Identify and escalate issues/risks in a timely manner that may cause delays in MRM achieving the alignment by the planned date

• Coordinate with different ERM standard owners to ensure updates made to the program are in alignment with the expectations of the their standards

• Develop training materials and conduct training sessions to educate key stakeholders including model owners and model sponsors of the program updates and how these impact them

• Provide ongoing support on the updated expectations to the existing and new model risk stakeholders and assist in broader adoption of the enhanced MRM program

• Support ongoing MRM Engagement with external teams including Regulatory, Audit, COO and other business groups and enterprise functions including on Training, Knowledge Share, Roadshows

• Provide MRM progress updates to the Project Management office and notify them of any challenges in meeting the target dates

• Collaborate with the Model Risk Management System expert in the team, Data &Technology teams, and RCE stream leads to ensure seamless update of the system to align with the updated Policy and Procedures

• Research industry best practices around model risk management and identify areas where current program can be enhanced

The successful candidate will benefit from having:

• 12+ experience in a risk management or an audit role at a large financial institution; model risk management or enterprise risk management (ERM) is preferred.

• Demonstrated knowledge and experience in supporting a risk department, as well as supporting effective implementation and sustainability of projects and teams

• Proven capability in high-quality execution, including both independent execution, as well as influencing cross-functional stakeholders to drive change

• Ability to identify, escalate, and assist in driving actions to mitigate priority risks

• Stakeholder management, project management, change management, digital literacy, and risk identification and assessment

• Strong communication skills, including verbal and written communications

• Strong organizational skills with the ability to manage multiple tasks and deadlines effectively

• Project management and change management capabilities

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.

About Our Bangalore Office

The Northern Trust Bangalore office, established in 2005, is home to over 5,600 employees.  In this stunning office, space, we offer fantastic amenities which include our Arrival Hub – Jungle, the GameZone, and the Employee Experience Zone that appeal to both clients and employees. Learn more.