Northern Trust - Associate Consultant - Model Validation (4-11 yrs)

Note : If shortlisted, you will be invited for initial rounds on 1st March'25 (Saturday) in Bengaluru

Job Title : (Associate consultant / Consultant) Model Validation

About Company :

For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 16,500 employees globally. We serve the world's most-sophisticated clients - from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.

We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.

Summary :

- 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 model Risk/Regulatory/Capital/Treasury/InterestRate/Economic Research/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)

Skills & Experience Required :

- 4-11 year overall experience preferred (Appropriate designation)

-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

- Excellent oral and written communication skills are required.

- Strong analytical and problem solving skills combined with conceptual and technical knowledge of risk concepts

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.

- Experience in the banking or similar Industry will be an added advantage