Associate Consultant, Model Validation

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 Job Summary Responsible for performing a variety of moderately complex risk analytics with focus on Treasury ALM and AI ML models Resolves moderately complex issues in advanced data modeling and measuring risk Provide effective challenge to the models by evaluating model related risks including input data model assumptions and limitations conceptual soundness methodology outcomes analysis benchmarking monitoring and model implementation This role requires a combination of strong quantitative skills and AI ML technical knowledge Major Duties Validation of moderately complex analytical models used in Treasury Asset and Liability Management ALM and Asset Management Validation of Artificial Intelligence AI Machine Learning ML and Generative AI GenAI models o Independently validate AI ML and GenAI models across supervised unsupervised reinforcement learning and foundation model categories o Evaluate Gen AI model risk including hallucination prompt injection data leakage reproducibility and alignment with Responsible AI principles o Assess model robustness interpretability fairness and bias through quantitative and qualitative techniques Ensures model development monitoring and validation approaches meet regulatory expectations and internal risk management needs Provides analytical or risk measurement support to help meet both internal corporate and regulatory requirements Develop in-depth knowledge of business unit function and complex modeling techniques used Clearly communicate the complex issues findings of the model validation outcomes to stake holders Keep abreast with latest regulatory requirements around model risk management Assesses validation requirements and actively provides solutions to enhance the model validation framework As part of centralized Model Validation team within the bank expected to work on varied areas of risk management Knowledge Skills Good understanding of Balance sheet valuation methodologies of fixed income and FX derivatives instruments Strong knowledge of AI ML techniques including classification and clustering gradient boosting neural networks NLP models and foundational models like GPT BERT etc Experience in validating machine learning models for performance fairness explainability and compliance Familiarity with GenAI risks and controls hallucination detection retrieval-augments-generation RAG prompt engineering etc Excellent oral and written communication skills Knowledge of risk measurement required to support function Strong analytical and problem-solving skills Experience Required Advanced degree in quantitative discipline Finance Math Statistics and Economics or Advanced degree in Computer Science with focus on AI ML or equivalent career experience preferred A relevant work experience of 4 to 6 years is required Strong Preference for candidates with certifications in AI ML or CFA FRM CQF Proficiency in Python and libraries and Cloud platforms Azure AWS 4 to 6 years of relevant experience 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 MadeForGreater 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 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