Finance, Operational Risk, Internal Validation Team, Associate

The Goldman Sachs Group is a bank holding company and a leading global investment banking, securities and investment management firm. Goldman Sachs provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals.

Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong, Beijing, and other major financial centers around the world.

We are committed to growing our distinctive Culture and holding to our core values which always place our client's interests first. These values are reflected in our Business Principles, which emphasize integrity, commitment to excellence, innovation and teamwork.

Job Summary & Responsibilities

Operational Risk Validation Group:

The Operational Risk Validation Group (ORVG) is an independent team, reporting to the Chief Risk Officer, which reviews and evaluates compliance with all aspects of the operational risk framework. The operational risk framework is the collection of policies and procedures developed by the Operational Risk Management and Analysis Department to identify, measure, and monitor operational risk across the firm. The validation team is based across multiple locations and interacts closely with Operational Risk Management and Analysis and with divisions across the firm.

ORVG is 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

Responsibilities include working with the team to:

  • Plan, scope and execute internal validation reviews to assess divisional compliance with the operational risk framework
  • Understand current and evolving changes to the regulatory expectations for the validation program
  • Draft internal validation reports for presentation to management that provide appropriate focus to management
  • Proactively track remediation of remediation plans to verify that issues identified during reviews are resolved timely
  • Prepare metrics and reporting to senior management and governance committees
  • Assess and corroborate, with stakeholders, the risk and impact of control deficiencies identified and the appropriateness of proposed remedial action plans.
  • Develop and maintain effective, constructive, forward looking relationships with assigned internal stakeholders
  • Remain current on business, regulatory and industry changes that may impact the operational risk framework and the validation team requirements
  • Assist in ongoing initiatives to enhance the validation program

Mandatory Qualifications

  • Minimum of 4-5 years' experience within investment banking (experience within an internal audit / validation / control function strongly preferred)
  • Experience working with teams and businesses across multiple locations and jurisdictions
  • Knowledge of regulatory requirements under the Basel framework is preferred
  • Understanding of CCAR framework is beneficial
  • Excellent interpersonal and analytical skills
  • Ability to work in a fast paced environment, with a strong delivery focus
  • Strong verbal and written communication skills - able to help prepare reports to senior stakeholders and regulators with impact and influence
  • Strong organizational skills
  • Strong attention to detail required
  • Team oriented
  • Inquisitive and enthusiastic
  • Possess a Bachelor degree

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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