Senior Consultant, Model Validation (Model Risk, AIML)

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 worlds 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 22000 partners we serve the worlds most sophisticated clients using leading technology and exceptional service.

Summary :

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. We are searching for an Senior Consultant Risk analytics to join our team. The primary responsibility of this role is to act as a lead contributor in the discovery and diagnostic of AI / ML model related risks including input data assumption conceptual soundness methodology outcomes analysis benchmarking monitoring and model implementation.

Specific Responsibilities :

Performs validation of Artificial Intelligence (AI) Machine Learning (ML) and Generative AI (GenAI) models

o Independently validate AI / ML and GenAI models across supervised unsupervised reinforcement learning and foundation model categories.

o Evaluate Gen AI model risk including hallucination prompt injection data leakage reproducibility and alignment with Responsible AI principles.

o Assess model robustness interpretability fairness and bias through quantitative and qualitative techniques.

Has solid understanding of risks that are posed by AI / ML models (Fairness Privacy Transparency and Explainability etc.)

Has familiarity in financial models used in portfolio analysis asset management Value at Risk Monte Carlo CAPM Factors.

Has fair understanding of stress testing CCAR CECL etc.

Solves complex quantitative problems and takes a new perspective on existing solutions.

Acts independently and analyzes possible solutions using technical experience and judgment and precedents.

Develops and maintains an understanding of many algorithms across supervised learning unsupervised learning and time series analysis.

Utilizes expertise in machine learning algorithms and statistics to challenge how algorithms are selected trained and tested.

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

Ensure model development monitoring and validation approaches meet regulatory expectations such as SR 11-7 and internal risk management needs.

Evaluate conceptual soundness of model specifications; reasonableness of assumptions and reliability of inputs; completeness of testing performed to support the correctness of the implementation; robustness of numerical aspects; suitability and comprehensiveness of performance metrics and risk measures associated with model use.

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 ouputs 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.

Qualifications :

9 - 12 years of modeling or quantitative analysis experience preferably in a discipline relevant to risk management to include statistical / mathematical AI / ML and financial modeling.

A College or University degree in STEM field mathematics actuarial science engineering or statistics or related discipline (Advanced degree preferred).

Strong knowledge of AI / ML techniques including classification and clustering gradient boosting neural networks NLP models and foundational models like GPT BERT etc.

Experience in validating machine learning models for performance fairness explainability and compliance; Familiarity with GenAI risks and controls : hallucination detection retrieval-augments-generation (RAG) prompt engineering etc.

Good interpersonal verbal and written communication skills.

Programming experience in Python required experience in SAS and R desired.

Mastery of analytical tools such as Excel as well as Word and PowerPoint is required.

Deep understanding of linear regression and logistic regression.

Familiarity with cloud data technologies is desired.

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.

Wed love to learn more about how your interests and experience could be a fit with one of the worlds 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 .

We hope youre 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 Our Bangalore Office

The Northern Trust Bangalore office established in 2005 is home to over 5600 this stunning office space we offer fantastic amenities which include our Arrival Hub Jungle the GameZone and the Employee Experience Zone that appeal to both clients and employees. Learn more.

Required Experience :

Senior IC

Key Skills

Python,C / C++,Fortran,R,Data Mining,Matlab,Data Modeling,Laboratory Techniques,MongoDB,SAS,Systems Analysis,Dancing

Employment Type : Full-Time

Experience : years

Vacancy : 1