Risk, Insurance, Management Liability Associate, Associate/VP, Dallas
The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout the firm.
Insurance Management is the group that manages the insurance buying function for Goldman Sachs . Specifically, the group procures property/casualty and liability insurance on behalf of the firm and its various businesses globally. Its mission is to support active risk management across the firm with the goal of mapping the firm's exposure to risk transfer insurance products when it makes sense to do so from a coverage and cost standpoint.
RESPONSIBILITIES AND QUALIFICATIONS
Candidates for this position must be versed in Risk Management and knowledgeable of the hazard and operational risks applicable to diversified financial institutions, investment companies, and other industry related concerns.
- Support the management & maintenance of the firm's insurance programs corporately and across various businesses including but not limited to the Investment Management Division, Merchant Banking Division, JAron & GSBank USA
- Insurance program support includes but is not limited to Professional Liability (D&O,E&O, Fraud, EPL), Cyber Security, Trade Credit, Reps & Warranties, Commodities/Cargo Liability & Political Risk/Violence
- The Professional Liability insurance coverages (inclusive of various D&O and E&O programs, Employment Practices Liability, Fidelity/Fraud, Cyber, Fiduciary etc.) represent $2.3B in limits procured, $38mm in premium spend annually and ~200 insurance contracts; this discipline has grown extensively in recent years due to new programs being put into effect (i.e Asset Management E&O, various 40Act Fund D&O programs, EPL and CyberSecurity & Privacy Liability). Allocation of candidate's time can be expected to be weighted more heavily to support of these programs
- Assist department members with building out expertise and handling of specific deal transactional insurance placements in response to increased demand emanating from the firm's Merchant Banking Division and Special Situations Group; conduct & support operational risk/insurance due diligence of corporate acquisitions and divestitures with a specific focus on increased acquisition activity/evaluations emanating from the Firm's Investment Management Division
- Support department's compliance with ongoing regulatory demands, inclusive of vendor management initiatives, service level agreement documentation & management, quarterly key performance indicator (KPIs) evaluations & various regulatory required committee/board presentations, inclusive of but not limited to the Firm's Physical Commodities Review Committee ("PCRC"), by specifically assisting dept members with liability analysis' of commodity investments as well as with "PCRC" secretary duties
- Support the firm's businesses to evaluate and mitigate operational risks with a particular focus on the evolving footprint of GSBank
- Support the department's processes and coordination with the Operational Risk & Management Analysis department with respects to scenario analysis, the mapping of operational risks to insurance mitigants and the use of insurance as a compliant operational risk capital mitigant
- At least 5-7 years of professional work experience
- Strong academic background in quantitative fields such as computer science, mathematics, or engineering preferable.
- Financial institution / asset management firm knowledge/experience preferable
- Interest in financial markets and risk management, motivated by learning and continuous improvement
- Ability to identify/synthesize key operational risk issues
- Ability & desire to learn new insurance products when/as necessary
- Ability to interact with and build relationships with people from different departments and levels of seniority
- Excellent communication & presentation skills
- Ability to deliver high quality work product under tight deadlines
- Ability to work on multiple projects with a high attention to detail
- Ability to analyze, evaluate and form independent judgements
- Team oriented
- Inquisitive and enthusiastic
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., 2018. All rights reserved Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Vet.
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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.
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