• CIMD - Marcus by Goldman Sachs - Credit Underwriting - Associate - New York/Richardson

    Location(s) US-TX-Richardson
    Job ID
    2019-53356
    Schedule Type
    Full Time
    Level
    Associate
    Function(s)
    Consumer Banking
    Region
    Americas
    Division
    Consumer and Investment Management Division
    Business Unit
    Loans Credit Risk
    Employment Type
    Employee
  • MORE ABOUT THIS JOB

    CONSUMER AND INVESTMENT MANAGEMENT DIVISION (CIMD)

    The Consumer and Investment Management Division includes Goldman Sachs Asset Management (GSAM), Private Wealth Management (PWM) and our Consumer business (Marcus by Goldman Sachs). We provide asset management, wealth management and banking expertise to consumers and institutions around the world. CIMD partners with various teams across the firm to help individuals and institutions navigate changing markets and take control of their financial lives.

     

    CONSUMER

    Consumer, externally known as Marcus by Goldman Sachs, is comprised of the firm’s digitally-led consumer businesses, which include our deposits and lending businesses, as well as our personal financial management app, Clarity Money. Consumer combines the strength and heritage of a 150-year-old financial institution with the agility and entrepreneurial spirit of a tech start-up. Through the use of machine learning and intuitive design, we provide customers with powerful tools that are grounded in value, transparency and simplicity to help them make smarter decisions about their money.

    RESPONSIBILITIES AND QUALIFICATIONS

    JOB DUTIES:

    • Perform statistically driven credit underwriting and risk analyses using a variety of analytical techniques and data sources for the development of consumer acquisition strategies across accept/decline, pricing and term optimization
    • Develop best-in-class loss forecasting framework for consumer lending business.
    • Partner with marketing, finance and operations teams to ensure smooth execution and that team is meeting all control requirements
    • Analyze credit bureau data to identify and derive attributes for credit risk decision
    • Build and optimize existing customer management strategies to improve customer level profitability
    • Ensure that all credit strategies align with the Firm’s Risk Appetite framework
    • Keep up to date with applicable regulations and compliance requirements with possible interactions with internal and external regulators
    • Develop analytical reports and presentations for senior management, executive committees and regulatory exams
    • Manage and mentor junior analysts to help them deliver on analytical projects

     

    MINIMUM EDUCATION REQUIREMENTS/DEGREE AND FIELD:

     

    Master’s degree (US or foreign equivalent) in Mathematics, Statistics, Economics, Engineering or a related field

     

    MINIMUM EXPERIENCE REQUIREMENTS:

     

    Five (5) years of experience in the job offered or in a similar quantitative role with experience:

    • Developing comprehensive reports using SQL or a similar database query language for extracting data from large datasets
    • Using advanced Microsoft Office skills, specifically Excel (including creation of pivot tables, logic functions, data tables and regression analysis), PowerPoint and Word
    • Utilizing SAS, R, Python (or similar) for statistical modeling and analyzing time-series data
    • Building, improving and analyzing risk management in an unsecured consumer lending with experience related to personal loans or credit cards
    • Utilizing knowledge of U.S. credit bureau data, Risk Scorecards and ability to pay
    • Managing several projects simultaneously and driving end-to-end project delivery
    • Experience building credit strategy for digital acquisition channels
    • Working for an industry leading financial service provider with managed loan balances of ~$5B
    • Visualizing complex data analyses and communicating to a wide variety of audiences, including senior leadership
    • Developing policy and procedures documentation for credit risk strategy execution
    • Developing and automating quality control process to ensure intended execution of credit strategies
    • Deep understanding of income and debt relationship in the context of credit underwriting that includes but not limited to design income verification requirements
    • Leading people or end to end projects involving cross functional deliverable

     

    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., 2019. All rights reserved Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Vet.