Associate Consultant, Risk Analytics - Model Validation

Job Description

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, Na ve 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. Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for . 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.