Job Description

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.

Summary
Support Northern Trust's Quality Assurance (QA) function within its Model Risk Management (MRM) team. Execute MRM Policies and Procedures, including revisions and updates, as necessary. Maintain enterprise-wide MRM system, including monitoring and updating model inventory, monitoring adverse validation findings, tracking remediation efforts, and administering enterprise-wise reporting on those efforts. QA-specific functions include assessing processes and deliverables for compliance with regulations and industry best practices, including sampling and testing. When gaps are identified, identify root causes and develop and execute project plans to remedy.

Major Duties

• Sample and review validation reports for adherence to Policies and Procedures.
• Sample and review other MRM processes and documents for adherence to the same, including model change requests, ongoing monitoring submissions, as well adverse validation findings and their remediation efforts.
• Develop and administer collateral material for business-unit deliverables, including templates, checklists, and other controls to ensure proper execution.
• Develop and administer documentation and training sessions around for the same.
• Perform gap analyses to assess differences between existing practices and regulatory requirements and industry best practices.
• Identify root causes where gaps exist.
• Develop and execute project plans to remedy audit findings, regulatory findings, and gaps between current practices and regulatory requirements and industry best practices

Knowledge/Skills

• Very strong technical writing skills are mandatory, as well oral communication and presentation skills.
• Candidate should be proficient with Microsoft Excel and be familiar with modern reporting tools such as Power BI or Tableau.
• Candidate must also have some familiarity with statistics, modeling, and statistical software (SAS, R, Python, etc.). Familiarity with relevant regulations such as SR 11-7, SR 15-18, and SR 15-19 are preferred.
• 1 to 4years of relevant work experience

Education and Experience Required:
A bachelor's degree in any STEM field (engineering, math, computer science, etc.) or a bachelors in a business discipline with significant quantitative focus and 4+ years experience in modeling, risk management, regulation, or audit in a large financial institution. Advanced degrees with 2+ years experience are preferred. Experience drafting and maintaing technical documentation in a large financial institution is required. Experience with MRM governance and enterprise-wide risk management software and reporting is preferred.

Additional Information