• Model Risk Management, Analysis and Reporting Team, Analyst/Associate/Vice President

    Location(s) US-NY-New York
    Job ID
    2018-42336
    Schedule Type
    Full Time
    Level
    Analyst, Associate, Vice President/Executive Director
    Function(s)
    General
    Region
    Americas
    Division
    Risk
    Business Unit
    Model Risk Management
    Employment Type
    Employee
  • MORE ABOUT THIS JOB

    RISK

    The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout the firm.

     

    The Model Risk Management (MRM) group is a multidisciplinary group of quantitative experts at Goldman Sachs with presence in New York, London, Singapore, Hong Kong, and Bangalore. The MRM group is responsible for independent oversight of Model Risk at the firm, ensuring compliance with the Model Control Policy and related requirements, including documentation to evidence effective challenge over the Model development, implementation and usage of Models. The group's primary mandate is to manage risk that arises from models used in the firm through its range of businesses' from models used for derivatives valuation to models used for risk management, liquidity and capital computations.

     

    The analysis and reporting team is a new function within the MRM group that is responsible for analyzing, monitoring and reporting on model risk for the firm. The group works collaboratively with the model validation team to understand and communicate results of model validation activities, changes in model risk and other model-related issues to key stakeholders and management.

    RESPONSIBILITIES AND QUALIFICATIONS

    JOB RESPONSIBILITIES

    • Analyze, monitor, escalate and report on model risk for the firm
    • Work closely with model validators to understand and communicate the results of model validation activities, model limitations and uncertainties to the key stakeholders and management
    • Oversee ongoing model performance monitoring, including benchmarking and outcome analysis, performed by model developers
    • Organize and conduct periodic meetings with model developers and control side stakeholders to review results of ongoing performance testing
    • Manage MRM’s role in large-scale, firmwide projects such as CCAR
    • Advise management on the risks associated with particularly large transactions, by leveraging understanding of model performance

    Qualifications:

    MRM considers candidates of all degree types, with preference for those in finance, business or quantitative fields such as math, physics, engineering, computer science, or financial engineering.

    • Strong written and verbal communication skills
    • Strong interpersonal and organizational skills. Team oriented
    • Analytical, quantitative, and programming skills desirable
    • Good understanding of the business, financial products and the market

    Additional skills/experiences that we value:

    • Model development and/or validation
    • Electronic trading development and/or validation
    • Quantitative/systematic trading strategies, hedge funds, credit risk management

    ABOUT GOLDMAN SACHS

    The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

    © The Goldman Sachs Group, Inc., 2018. All rights reserved Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Vet.