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.
Major Duties :
- Assist in the design, development, and implementation of model governance processes to ensure all models across Northern Trust are managed in accordance with the Corporate Model Risk Management (MRM) Policy and applicable regulatory requirements across different jurisdictions such as SR 11-7 (FRB).
- Be aware of the new trends in analytics such as generative Artificial Intelligence and propose appropriate enhancements to the program so that model risk emanating from these advancements can be adequately managed.
- Conduct training sessions to raise awareness about the model risk management program and related expectations across the enterprise.
- Participate in various gate keeping forums to identify potential new models being onboarded in the firm.
- Lead the onboarding of new model owners and ensure that the models are properly registered in the model inventory.
- Ensure that model inventory is complete and meta data regarding models is accurately captured in the model inventory management system.
- Support design, development, and enhancement of the model risk tiering process and ensure that models are consistently tiered across different business units and model types.
- Support Board and senior management reporting by working with other partners in the team and designing, developing, implementing, and enhancing KPIs (Key Performance Indicators) and KRIs (Key Risk Indicators) of model risk.
- Assist in preparation and enhancement of material for Model Risk Oversight Committee (MROC) every month.
- Research industry best practices around model risk management and identify areas where current program can be enhanced.
- Day to day activities will include advising model owners and model validators on the MRM policy/procedures expectations, coordinating with model owners on timely delivery of model documentation to the model validation team to ensure validation reviews can be conducted timely, and closely working with other partners in the team to ensure smooth execution of various processes.
Knowledge :Excellent oral and written communication skills are required Analytical and problem solving skills are required.
Experience :A Master's degree and/or relevant proven work experience is required; Advanced degree in related field (math, statistics, economics) or equivalent career experience preferred. Related Industry qualification is preferred
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 MyHRHelp@ntrs.com.
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.
