Associate Consultant Model Validation
Associate Consultant Model Validation
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Job Description
About Northern Trust:
Northern Trust a Fortune 500 company is a globally recognized awardwinning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the worlds 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 22000 partners we serve the worlds 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 Nave 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 indepth knowledge of business unit / function
Acts as subject area expert provides comprehensive indepth 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 and development and 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 KMeans 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.
46 years overall experience 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.
Wed love to learn more about how your interests and experience could be a fit with one of the worlds 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 .
We hope youre 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.
Required Experience:
IC
Employment Type
Full-Time
