Analyst, Model Validation(Financial Risk)
5 days ago
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;pleteness of testing performed to support the correctness of the implementation; robustness of numerical aspects; suitability andprehensiveness 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;pare model outputs with empirical evidence and/or outputs from model benchmarks.
• Document and present observations to model owners and users, rmend 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 ofprehensive 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 writtenmunication skills.
• Programming experience in at least one language (, 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 apanymitted to assisting themunities 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 sustainablepanies Build your career with us and apply today. #MadeForGreater
Reasonable amodation
Northern Trust ismitted to working with and providing reasonable amodations to individuals with disabilities. If you need a reasonable amodation for any part of the employment process, please email our HR Service Center at .
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.
Job ID R128330
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