Associate Consultant, Model Validation - Market Risk
About Northern Trust:
Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With over 130 years of financial experience and nearly 20,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.
Working with Us:
As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company that is committed to strengthening the communities we serve!
We recognize the value of inclusion and diversity in culture, in thought, and in experience, which is why we are honored to receive the following awards in 2021:
- Gender Equality Index Member, Bloomberg
- Top Financial & Banking Company, Black EOE Journal, Hispanic Network Magazine, Professional WOMAN'S Magazine
We’d love to learn more about how your interests and experience could be a fit with one of America’s best banks and most sustainable companies! Build your career with us and apply today.
- Strong conceptual and technical knowledge of financial markets and related risk concepts is required. Knowledge of statistics and econometric methods is required.
- Experience in developing or validating/reviewing PPNR/Market Risk/Credit Risk models is preferred.
- Excellent oral and written communication skills are required when interacting with committees and/or management.
- Clarity of thought and ability to break down complex issues for problem solving are critical for this role.
- Technical skills/systems knowledge (e.g. SAS, Python, R, MATLAB, Advanced Excel) is strongly preferred.
- Advanced degree in related field (finance, statistics, economics, mathematics, engineering) or equivalent career experience preferred. Industry qualification is preferred.
- Strong preference for candidates with certifications such as CFA/FRM/CQF
- Responsible for independent validation of moderately complex analytical models used for CCAR as well as BAU models spanning Treasury and Asset Management businesses
- Knowledge of Stochastic interest rate models and usage of the same for derivative valuation.
- Understanding of various market risk concepts such as factor risk models, asset-liability management, VaR calculations, etc., are preferred
- Exposure to one or more of various asset classes (Equity, FX, Credit, Interest Rate, Commodities) is preferred
- As part of centralized Model Validation team within the bank, expected to work on varied areas of risk management.
- Ensures model validation approaches meet regulatory expectations and internal risk management needs
- Develop in-depth knowledge of business units/functions and complex modeling techniques used
- Adept stakeholder management and smooth interaction with various model owners
- Clearly communicate the complex issues/findings of the model validation outcomes to stakeholders.
- Keep abreast with latest regulatory requirements around model risk management
- Evaluates existing model risk framework in relation to department objectives and industry leading practices, and actively provides solutions to enhance the model risk management/validation framework.
For further information, and to apply, please visit our website via the “Apply” button below.