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Consultant, Risk Analytics

📁
Risk Management/Compliance
📅
76756 Requisition #
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The Northern Trust Company seeks a Consultant, Risk Analytics to be responsible for performing independent risk model validation and assessing the accuracy and performance of quantitative models and qualitative estimations across the organization.

Specific Responsibilities 

Provide technical and theoretical expertise to evaluate the conceptual and theoretical soundness of model design, validity of selected model methodologies and assumptions, effectiveness of model development approaches, and integrity and representativeness of the data. 

Ensure compliance with internal policies and external regulatory requirements for model risk. 

Evaluate existing model risk framework and validation requirements and actively provide solutions to enhance the model risk framework.  

Provide communication and support training efforts to promote understanding of model risk measurement throughout the company.  

Perform reviews of bank-wide quantitative models including models used for CECL and CCAR/DFAST stress testing, credit risk loss projections (PD, LGD, EAD), interest rate risk models, AML (Anti-Money Laundering and Fraud Detection), and various vendor models.  

Use statistical models that involve least squares regression, logistic regression, Value-at-Risk, Monte Carlo simulation, and machine learning methodologies. Perform analyses using statistical programs such as SAS, R, or Python. 

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 Validation Team Lead and 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 in 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.
Requirements 

Position requires a Master’s degree in Finance, Statistics, Mathematics, Econometrics, Business Administration, or a related field, and 1 year of experience developing, implementing, or validating quantitative models within risk management. 

Experience must include a minimum of:  

2 years of experience with any three of the following tools: SAS, R, Python, in addition to SQL;  

2 years of experience developing advanced statistical predictive models, including linear and logistic regression, time series techniques, and machine learning 

2 years of experience with conducting statistical analysis handling large amounts of data

2 years of experience with understanding corporate financial statements, including balance sheets, income statements, and cash flow statements, and applying regulatory requirements for model risk

1 year of experience with utilizing modeling techniques supporting Capital Planning, CECL, Stress Testing (DFAST and CCAR), Pricing models, and Marketing models.

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 18,500 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.

As of March 31,2019, Northern Trust Corporation had:  

$10.9 trillion in assets under custody/administration 
$8.2 trillion in assets under custody 
$1.2 trillion in assets under management 
$122 billion in banking assets

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Reasonable Accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1-800-807-0302 (North America), +630-276-5353 (Asia Pacific), +44(0)207 982 4357 (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

Equal Employment Opportunity Statements
  • APAC EEO Statement
    • APAC EEO STATEMENT

      It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

  • Canada EEO Statement
    • Canada EEO STATEMENT

      Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected by federal, provincial, or local law, regulation, or ordinance.

  • EMEA EEO Statement
    • EMEA EEO STATEMENT

      It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

  • USA EEO Statement
    • USA EEO STATEMENT

      It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status. EEO poster (U.S.)EEO is Law Poster Supplement