Consultant, Risk Analytics

Job Description

About Northern Trust:Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With 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 Forbes ranked us the top employer for Diversity in 2018.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 ethical companies. Build your career with us and apply today.Risk Analytics HUB has centers at Chicago, Tempe and Bangalore. We have different teams under risk analytics hub including Credit Risk Modeling, Credit Risk Reporting, Securities Modeling, Data Analytics, Operational Risk Analytics and Reporting, Quality Assurance, PPNR and others.The consultant position supports the Risk Model Development team and is responsible for model development, maintenance, back-testing, and monitoring of credit loss estimation and stress testing models for fixed income securities. Partner will also support development, maintenance, monitoring and reporting on non-modelled methodologies for assessing credit risk, credit loss, delinquency, prepayment and other risks relating to fixed income securities. Investment securities portfolio includes more than $50B of assets in multiple asset classes including but not limited corporate bonds, sovereign and supranational bonds, covered bonds, municipal bonds, CRA securities, and various securitizations such as CMBS, agency RMBS, ABS, CLOs and CMOs. A key member of the Risk Model Development Team with high degree of interaction required with business partners in Treasury, Credit Risk, Finance, and Accounting.Major DutiesIndependently manage quantitative credit risk measurement, quantification and monitoring solutions for fixed income securities under manager s supervision. He/she will act as key contact for risk analytics with regulators, Internal Audit Department, and Model Validation Group for vended systems and internally developed tools.Provide strong independent assessment, challenge and solutions in partnership with the businesses and functionsMonitor & assess effectiveness of risk controls & mitigating tools. Lead, assist or advise on remediation activities and corrective actions as appropriateWork with senior team members and stakeholders to evaluate existing processes in relation to corporate objectives and industry leading practices. Assess development needs and manage processes to achieve desired future state specifically to ensure continued compliance with CCAR requirements, CECL and IFRS9 standards, and other regulatory or internal standardsContribute to communication and training efforts to promote understanding of management of credit risk in fixed income throughout the companyEnsure that loss estimation and risk measurement calculations meet both internal corporate needs and regulatory requirementsTrain junior staff on developing, maintaining, implementing and monitoring models and non-modelled methodologiesActs as subject area expert and provides comprehensive, in-depth consulting and leadership to team and partners at a high technical levelReconcile development results with implementation and execution results for modelled and non-modelled methodologiesDevelop and maintain comprehensive and well-organized process documentation, supporting work papers, and evidence of controls to permit independent validation/replication of workQualificationPh.D.or Master in Statistics/ Economics/Mathematics/advanced degree in quant areaOr B.tech. From tier 1 college + MBA in related fieldSkills and Required exp2+ years of experience developing and using credit risk models in banking/finance/insurance or related industries5-7 years of experience in working with multiple technical applications such as SAS, Python, SQL, R, Matlab and ExcelAbility to effectively communicate with peers, senior management and overseas partnersAbility to work under pressure and organize, manage and prioritize multiple deliverablesExtensive experience of existing and good understanding of new complex regulatory policies and reporting requirements such as CCAR and CECL/IFRS9Strong presentation and interpersonal skills Ability to work effectively across organization linesDemonstrable knowledge and experience with the mathematics and mechanics of fixed income securities, the details of the fixed income securities market is requiredPrior experience with vended solutions from Moody s Analytics such as Portfolio Analyzer, CreditEdge, GCORR, CMM requiredTechnical skills / systems knowledge (e.g. SAS, Python, Matlab and Advanced Excel), Moody s Analytics products is requiredExcellent oral and written communication skillsCFA or FRM will be preferred,

Keyskills :
fixed income securitiesfixed income derivativescredit riskrisk modelsfixed incomerisk modelingcovered bondsinternal auditdata analyticsrisk analyticsstress testingmunicipal bondscorporate bondsoperational risk