Finance, Model Risk Management, Risk Data Verification, Analyst/Associate
The Model Risk Management Department (“MRM”) is a central part of the Goldman Sachs risk management framework. MRM is independent of the revenue-producing divisions and reports to the firm’s chief risk officer.
The MRM department is made up of the following groups:
- Model Risk Management – Responsible for assessing and quantifying model risk — the risk associated with the choice of models that are used to price exotic derivative transactions. As financial derivatives become more complex, so do the models used to value and risk manage them. Our group focuses on developing alternative models to quantify the sensitivity to choice of different models.
- Credit Risk Review Group (CRRG) : Responsible for independently challenging and validating the ratings and designations assigned by the Credit Risk Management and Advisory Department used for risk management and capital determinations. CRRG also assesses CRMA’s compliance with its processes and procedures.
- Operational Risk Validation Group (ORVG) – Responsible for assessing the conceptual soundness, governance, and methodology of the firm’s operational risk losses projections as part of the Comprehensive Capital Analysis and Review (CCAR) submission. ORVG also independently and objectively evaluates both the design and the effectiveness of the firm’s Operational Risk Management Framework
As a member of MRM, you will play a key role in the overall capital adequacy process at Goldman Sachs including providing management with current, accurate and informative analysis of the firm’s market, liquidity and operational risk
Best practice and regulation require that banking organizations have a rigorous internal control framework which includes an independent review and verification function. The candidate will challenge processes that are central to our reporting and ensure that internal systems supporting regulatory compliance with BCBS 239 are properly designed, documented and implemented.
The review process would cover:
- Interpreting and confirming compliance with applicable rules and regulation
- Transaction testing to ensure completeness
- Efficacy and appropriateness of data capture/aggregation and reporting
- Accuracy of risk measurement
- Development and implementation of automated data validation
- Information technology and automation
- New products or product modifications
- Bachelor Degree Required
- 2-5 years of experience in either Audit, Technology, Risk Management, Regulatory Control/Reporting
- A combination of analytical, organizational and interpersonal skills
- Detail oriented
- Strong verbal and written communication skills
- Team player – ability to maintain mutual support within a high profile team
- Ability to operate in a fast-paced environment with high sense of urgency/multi-tasking skills
- Strong computing and Excel skills
Preferred QualificationsPreferred Qualifications
- Public audit experience
- Technology background
- Experience with data manipulation and analytics
Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Vet. © The Goldman Sachs Group, Inc., 2015. All rights reserved.
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