Associate Consultant, Model Validation - AI/ML

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.

Job Summary
Responsible for performing a variety of moderately complex risk analytics with focus on Treasury/ALM and AI/ML models. Resolves moderately complex issues in advanced data 
modeling and measuring risk. Provide effective challenge to the models by evaluating model related risks including input data, model assumptions and limitations, conceptual soundness, 
methodology, outcomes analysis, benchmarking, monitoring, and model implementation. This role requires a combination of strong quantitative skills and AI/ML technical knowledge.

Major Duties
• Validation of moderately complex analytical models used in Treasury, Asset and Liability Management (ALM) and Asset Management
• 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.
• Ensures model development, monitoring, and validation approaches meet regulatory expectations and internal risk management needs.
• Provides analytical or risk measurement support to help meet both internal corporate and regulatory requirements.
• Develop in-depth knowledge of business unit / function and complex modeling techniques used.
• Clearly communicate the complex issues/findings of the model validation outcomes to stake holders. 
• Keep abreast with latest regulatory requirements around model risk management.
• Assesses validation requirements and actively provides solutions to enhance the model validation framework.
• As part of centralized Model Validation team within the bank, expected to work on varied areas of risk management.

Knowledge/Skills
• Good understanding of Balance sheet, valuation methodologies of fixed income and FX derivatives instruments 
• 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.
• Excellent oral and written communication skills
• Knowledge of risk measurement required to support function.
• Strong analytical and problem-solving skills

Experience Required
• Advanced degree in quantitative discipline (Finance, Math, Statistics, and Economics) or Advanced degree in Computer Science with focus on AI/ML or equivalent career experience preferred. 
• A relevant work experience of 4 to 6 years is required. 
• Strong Preference for candidates with certifications in AI/ML or CFA/FRM/CQF 
• Proficiency in Python and libraries, and Cloud platforms (Azure, AWS)
• 4 to 6 years of relevant experience

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.