MORE ABOUT THIS JOB
The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout the firm.
The Risk Division is a team of specialists charged with managing the firm's credit, market, liquidity, and operational risk. Whether assessing the creditworthiness of the firm's counterparties, monitoring market risks associated with trading activities, or offering analytical and regulatory compliance support, our work contributes directly to the firm's success. The division is ideal for collaborative individuals who have strong ethics and attention to detail.
Credit Risk (CR) is responsible for managing the firm's credit exposure to its trading and lending counterparties. Leveraging its extensive expertise in financial, credit and risk analysis, CR ensures that credit exposure to our counterparts is managed within the firm's risk appetite. Staffed with 300 professionals, CR operates through 12 different offices around the world and credit professionals work closely with many areas of the firm. Given this structure, CR professionals gain diverse financial experience and a broad perspective on how the entire firm functions. The interaction with numerous departments and the range of projects that ensue allow for a challenging, varied and multi-dimensional work environment.
RESPONSIBILITIES AND QUALIFICATIONS
RESPONSIBILITIES AND QUALIFICATIONS
- Review and approve purchases of pools of newly originated and seasoned residential mortgage whole loans, unsecured consumer loans, student loans, credit card receivables and other consumer assets
- Monitor residential mortgage and other consumer asset quality credit trends and trends in the portfolio
- In cooperation with business teams and first line risk teams, develop the Firm's purchase criteria and overlays for purchasing newly originated consumer assets
- Review and approve sellers of newly originated and seasoned consumer assets including re viewing origination/underwriting guidelines and comparing those guidelines to the Firm's purchase criteria to assess acceptability of deviations based on compensating factors
- Manage the process for approving loan-level exceptions to the Firm's purchase criteria
- Maintain and monitor balance sheet limits by consumer asset type and at the seller-level
- Evaluate new products in support of business growth
- Ideally, 3 to 5 years of experience underwriting conforming and jumbo residential mortgages; experience underwriting FHA, VA is beneficial
- Strong understanding of U.S. residential mortgage industry and various mortgage products including agency conforming, jumbo, and non-qualified mortgage products; in depth knowledge of residential mortgage underwriting is required; knowledge of other consumer assets such as unsecured consumer loans is beneficial
- Demonstrable track record of independent decision making and the ability to steer client and business negotiations
- Must be able to lead and motivate an engaged and diverse deal team, providing guidance to and supervision of junior members of the team
- Must be able to communicate at the most senior levels
- Functional Expertise - Keeps up-to-date with emerging business, economic, and market trends
- Technical Skills - Demonstrates strong technical skills required for the role, pays attention to details, takes initiative to broaden his/her knowledge and demonstrates appropriate financial/analytical skills
- Drive and Motivation - Successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
- Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients, helps the client to identify/define needs and manages client/business expectations
- Teamwork - Gives evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions
- Communication Skills - Communicates what is relevant and important in a clear and concise manner, shares information/new ideas with others, and demonstrates judgment to escalate as appropriate
- Judgment and Problem Solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives. Sees the big picture and effectively analyzes complex issues
- Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
- Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions. Takes a position on issues and influences others' opinions by presenting persuasive recommendations
At Goldman Sachs, we commit our people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Founded in 1869, we are a leading global investment banking, securities and investment management firm. Headquartered in New York, we maintain offices around the world.
We believe who you are makes you better at what you do. We're committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally, from our training and development opportunities and firmwide networks to benefits, wellness and personal finance offerings and mindfulness programs. Learn more about our culture, benefits, and people at GS.com/careers .
We're committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: https:// www.goldmansachs.com/careers/footer/disability-statement.html
© The Goldman Sachs Group, Inc., 2021. All rights reserved.
Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity