OPERATIONAL RISK
Operational Risk is an independent risk management function (2nd line), responsible for developing and implementing a standardized framework to identify, measure, and monitor operational risk across the firm. This role requires an energetic self-starter that can liaise with stakeholders across business units and federation teams both regionally and globally. Familiarity with the concepts of operational risk, the firm's process flows and control environment combined with strong interpersonal and analytical skills and a penchant for problem solving are necessary for this role.
Operational Risk Controls Monitoring & Testing (Op Risk CM&T) team leverages unique, in-house business monitoring insights to effectively execute risk and trigger-based reviews and testing programs to ensure conformity and effectiveness of firm standards, policies and regulations.
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This is achieved by a dedicated team of Risk SMEs working closely with 1st Line of Defense (1LoD) for robust check and challenge of 1LoD's execution of risk management programs.
OUR IMPACT
The Controls Monitoring & Testing team is a group within the Operational Risk, comprised of individuals with varying backgrounds responsible for assessing the design and performance of the monitoring and testing programs across the firm . The team leverages its experience in financial products, operational functions, operational risk management, markets and regulations to conduct reviews across the Operational Risk Division. The Controls Monitoring & Testing team focuses on performing risk reviews on various processes and teams across the firm. The team performs many different types of reviews such as process, consistency and thematic reviews.
RESPONSIBILITIES
We are looking for an experienced Operational Risk professional to work within the Operational Risk Controls Testing. Responsibilities include the following:
• Partner with colleagues across divisions around the globe, while contributing to and managing various ORR driven programs
• Represent CMT on forums to ensure accurate reflection of our functions, controls and frameworks
• Conduct reviews to give management reasonable assurance as to the effectiveness of the control environment on a periodic basis.
This position description is intended to describe the duties most frequently performed by an individual in this position. It is not intended to be a complete list of assigned duties but to describe a
position level. The role shall be performed within a professional office environment. Goldman Sachs has health and safety polices that are available for all workers upon request. There are
no specific health risks associate with the role.
Controls Monitoring & Testing
• Work with senior stakeholders to ensure controls monitoring and testing abides by the standards and is sufficiently documented
• Perform data analysis to identify patterns / trends and areas of risk that may warrant further review or testing
• Review Control indicator / Risk Indicator evidence to ensure that it is produced timely and consistently, is retained according to applicable policies and standards, and provides insights into the performance of the control relative to its objective.
• Ensure that the data used to produce Control /Risk Indicators meets the company's Data Quality standards and can be relied upon
• Independently assess the firm's internal control structure, including the firm's governance processes and controls, and risk management.
SKILLS & EXPERIENCE WE'RE LOOKING FOR
BASIC QUALIFICATIONS
• Bachelors / Undergraduate degree
• Strong communication and interpersonal skills both written and oral - you are able to grasp technical concepts and communicate such concepts to various audiences
• Attention to detail and proven analytical and technical skills with desire to learn more
• Self-motivated and proactive team player, who takes ownership and accountability of projects, has strong organizational skills as well as the ability to effectively manage competing priorities for wide-ranging programs
• 4+ years' experience in the financial services industry, either working for another broker dealer, law firm, Big Four firm or regulator
• Knowledge of financial products, markets, and operational processes
• Knowledge of Microsoft Word, Excel, and PowerPoint is a must
• Ability to operate independently and drive consensus
• Demonstrates strong risk and control mindsets, analytical, exercises professional skepticism and able to challenge and discuss effectively with management on risks and control measures
ADDITIONAL EXPERTISE
• Auditing, control testing or regulatory/law experience
• Experience implementing Controls Testing framework and methodologies
• Experience of using data analytics to facilitate control testing
• Project Management experience
• Understanding of accounting
• Experience in issue remediation in operational areas that required root-cause analysis