Associate Consultant, Risk Analytics - Model Validation

• 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, Naïve Bayes, kNN, Random Forest, neural networks etc
• Strong Programming skills in SAS/R/Python etc

• Responsible for validating complex statistical and/or algorithmic models – Risk/Regulatory/Capital/Treasury/InterestRate/EconomicResearch/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)

• Excellent oral and written communication skills are required.
• Strong analytical and problem solving skills combined with conceptual and technical knowledge of risk concepts
• 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

• 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.
• Banking or similar Industry qualification is preferred.

Northern Trust