Consultant, Model Validation Northern Trust Corp.

6.0 - 10.0 years

0 Lacs

karnataka

On-site

About Northern Trust: Northern Trust is a globally recognized, award-winning financial institution that has been in continuous operation since 1889. With over 22,000 partners and more than 130 years of financial experience, Northern Trust takes pride in providing innovative financial services and guidance to the world's most successful individuals, families, and institutions while upholding enduring principles of service, expertise, and integrity. The Model Risk Management Group (MRMG) is a centralized function within the Bank that has experienced rapid growth in response to increasing global regulatory focus on model risk. We are currently seeking a Consultant, Risk Analytics to join our team. In this role, your primary responsibility will be to support the model validation function, acting as a lead contributor in identifying and diagnosing model-related risks across various aspects including input data, assumption, methodology, and outcomes analysis. Key Responsibilities: - Validate models primarily developed in Python or SAS, with a focus on challenging the conceptual soundness of machine learning models and ensuring the quality of input data. - Demonstrate advanced proficiency in financial models related to portfolio analysis, asset management, Value at Risk, Monte Carlo simulations, CAPM, and factors. - Exhibit a solid understanding of risks associated with AI/ML models, such as Fairness, Privacy, Transparency, and Explainability. - Engage in stress testing, CCAR, CECL, and other relevant areas. - Solve complex quantitative problems, analyze possible solutions, and develop a deep understanding of various algorithms and machine learning techniques. - Review and assess bank-wide quantitative models including those used for CECL, CCAR/DFAST stress testing, credit risk projections, operational risk, AML, and other machine learning models. - Ensure model development, monitoring, and validation approaches align with regulatory expectations and internal risk management needs. - Evaluate model specifications, assumptions, testing completeness, and performance metrics, while documenting observations and recommending remediation actions. - Maintain strong relationships with key stakeholders like model developers, owners, and users. Qualifications: - 6 to 8 years of modeling or quantitative analysis experience in a relevant discipline. - A degree in STEM field, mathematics, actuarial science, engineering, or statistics (Advanced degree preferred). - Strong interpersonal, verbal, and written communication skills. - Proficiency in Python, with experience in SAS and R desired. - Mastery of analytical tools like Excel, Word, and PowerPoint. - Deep understanding of linear and logistic regression, along with experience in Machine Learning models. - Familiarity with cloud and big data technologies is a plus. Joining Northern Trust offers a chance to be part of a flexible and collaborative work culture where innovation is encouraged, and career growth is supported. As a company committed to serving communities, Northern Trust values inclusivity and flexibility in the workplace. Apply today to explore opportunities with one of the world's most esteemed and sustainable companies. #MadeForGreater Northern Trust is dedicated to providing reasonable accommodations to individuals with disabilities. If you require accommodation during the employment process, please contact MyHRHelp@ntrs.com. We look forward to learning more about your interests and experiences and discussing how you can contribute to our team. Share your flexible working requirements with us, and together, we can achieve greater success.,

Posted 2 weeks ago

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