Analyst, Model Validation(Financial Risk)

7 days ago

Bangalore City, India Northern Trust Full time

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.

Summary:

The Model Risk Management Group (MRMG) is a centralized model risk management function within the Bank. It has seen fast growth in the past few years reflecting global regulators’ increasing attention on model risk. We are searching for an Analyst, Risk analytics to join our team. The primary responsibility of this role is to support the model validation function. Under general supervision (but works independently most of the time) responsible for discovering and diagnosing model-related risks including input data, assumption, conceptual soundness, methodology, process, and implementation.

Specific Responsibilities

  • Responsible for reviews of bank-wide quantitative models including models used for asset management and wealth management, regulatory stress testing (CCAR/CECL), credit risk loss projections (PD, LGD, EAD), interest rate risk models, AML (Anti-Money Laundering and Fraud Detection), and various machine learning/ artificial intelligence models.
  • Ensure model development, monitoring, and validation approaches meet regulatory expectations and internal risk management needs.
  • Evaluate conceptual soundness of model specifications; reasonableness of assumptions and reliability of inputs; completeness of testing performed to support the correctness of the implementation; robustness of numerical aspects; suitability and comprehensiveness of performance metrics and risk measures associated with model use.
  • Review model documents, and conduct test runs on model codes. Assess and measure the potential impact of model limitations, parameter estimation, error, and/or deviations from model assumptions; compare model outputs with empirical evidence and/or outputs from model benchmarks.
  • Document and present observations to model owners and users, recommend remediation action plans, track remediation progress, and evaluate remediation evidence.
  • Monitor model performance reports on an on-going basis to ensure models remain valid, as well as contribute to the bank-wide model risk and control assessment.
  • Support development of comprehensive documentation and testing of risk management framework. Deliver a work product that requires little revision.
  • Establish and maintain strong relationship with key functional stakeholders such as model developers, model owners, and users.
  • Keep abreast with latest regulatory requirements around model risk management

Qualifications

  • Minimum 1 year of modeling or quantitative analysis experience, preferably in a discipline relevant to risk management to include statistical/mathematical and financial modeling.
  • A College or University degree in any STEM field (economics, statistics, engineering, finance, mathematics, etc.). Related industry qualification (CFA/FRM/CQF) is a plus.
  • Excellent interpersonal, verbal, and written communication skills.
  • Programming experience in at least one language (e.g., Python/R/C/SAS).
  • Familiarity with ML/AI techniques is a plus.

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.

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.

For further information, and to apply, please visit our website via the “Apply” button below.

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