Senior Analyst - Chicago, United States - Northern Trust

Description

Senior Analyst - Model Governance page is loaded

Senior Analyst - Model Governance

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locations

Chicago, IL

time type

Full time

posted on

Posted Yesterday

job requisition id

109440

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.

The Model Risk Management Group (MRMG) is a centralized model risk management function within the Bank. It has seen fast growth in the past few years reflecting global regulators' increasing attention on model risk. Model Governance function sits within MRMG.

Model Governance team is responsible for developing and maintaining Corporate Model Risk Management Policy and Procedures and providing Board and senior management with timely reporting regarding the state of model risk across Northern Trust.

This role will report to the Head of Model Governance and will be primary responsible for the following 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/Skills

• Strong statistical background and excellent analytical and problem-solving skills with a graduate degree in one or more of the following areas: statistics, economics, finance, mathematics, computer science and engineering.
• Strong knowledge of control design, implementation, testing, and documentation.
• Strong writing, oral communication, and presentation skills are mandatory.
• Familiarity with relevant regulations such as SR 11-7, SR 15-18/19, SS1/23, and Basel Final rules is preferred.

Education and Experience Required

• A master's degree in any STEM field (engineering, math, computer science, etc.).
• 5+ experience in a risk management or an audit role at a large financial institution.
• Experience with MRM governance and enterprise-wide risk management software and reporting 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.

#MadeForGreaterReasonable accommodationNorthern 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.

About Us

Looking for greater?You found it.

A global financial leader with more than 22,000 employees in 23 locations worldwide, Northern Trust empowers our employees to achieve more than just business goals.

Our focus on work-life balance, career mobility and unique opportunities are just a few of the reasons we've been named one of the world's most admired companies.

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 North America), Asia Pacific), India), Europe, Middle East and Africa) and let us know the nature of your request and your contact information.
Equal Employment Opportunity Statements

APAC/INDIA EEO STATEMENTIt 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.

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 STATEMENTIt 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 STATEMENTIt 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.

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