Risk - Risk Governance and Testing - Associate - Bengaluru
The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout the firm.
Risk Governance and Testing:
Risk Governance: The group is responsible for managing Risk Division's operational risk and regulatory risk.
- Makes our operating risks transparent through a suite of standards, processes, and tools which embed governance and quality assurance in process design throughout the data lifecycle
- Designs, operates, and reports on all aspects of its governance framework, including development of governance templates, standards, guidelines, and tracking of key performance indicators
- Designs, operates, and reports on all aspects of its internal control and self-assessment framework, including a process verification framework that measures and monitors process and control design effectiveness
- Manages regulatory assessments and interactions
- Maintains inventories and assessments of models, measures, and policy/regulatory obligations; and
- Provides risk oversight of the business unit and reporting to senior management, increasing transparency of risks and influencing decision making and prioritization
Risk Testing Group: An independent review group within the Risk Division, with an aim to provide assurance over the design and operating effectiveness of the firm's second line risk functions.
- Performs quantitative validation of key regulatory deliverables for the firm
- Manages and conducts independent assessments and testing of process and control design
- Ensures continuous monitoring over processes, underlying data, and supporting controls for the Risk Division.
- Identifies potential material errors or omissions related to data accuracy, conformance with regulatory instructions, and ongoing effectiveness of key controls. .
- Prepares metrics and reporting to Risk Division senior management and governance committees
- Automates test methodology and test approaches using an object oriented programming language
- Leverages reporting suites (such as Tableau) to create and deliver cutting edge reports for the Risk Division
RESPONSIBILITIES AND QUALIFICATIONS
- Develop an understanding of firm's credit risk management framework, methodology, techniques, and processes
- Analyze and assess business unit risks, key drivers and vulnerabilities
- Ensuring adherence to instructions with regulatory guidelines
- Conduct independent testing and review of key regulatory reporting process(es) and deliverables
- Provide effective challenge of stakeholder process(es) and outcomes
- Create automated solutions (in an object oriented programming language) to re-engineer process design
- Communicate results of testing through formal reports
- Track progress and validate the completion of remediation plans for findings
- Contribute to the establishment of metrics and tools to assess and report on inherent risks, control strength and residual risk in a consistent and objective manner
- Develop and maintain effective and constructive stakeholder relationships
- Lead inventorying initiatives, e.g., models, measures, other quantification mechanisms and output, risks, and controls
- Communicate and escalate significant risks to management
- Liaise across relevant business, technology, and control functions to prioritize risks, challenge decisions, assumptions and tolerances, and drive appropriate risk response
- Assist in managing operational risk ,model risk, and regulatory risk of the Risk Division
- Drive a culture of risk management and mitigation
Skills / Expertise
- Undergraduate, MBA or Master's degree in Business or Finance, Mathematics, Statistics, Engineering or Computer Science with a minimum of 2 years of experience
- Programming skills and experience with an object oriented programming language such as Java, Python or C++, to the level of performing pricing and building prototype risk analytics/productivity tools
- Experience in qualitative and quantitative risk management
- Experience in re-engineering and identifying improvements to systems and processes (risk and capital quantification, reporting, and supervision), and data structures
- Experience in controls surrounding risk governance, risk assessments, risk measurement, monitoring, and management, senior management and regulatory risk reporting
- Interest in financial markets and risk management, motivated by learning and continuous improvement
- Proactive with strong analytical, organizational, and influencing skills
- Keen to learn new information, adopt new skills and with the ability to identify and make improvements to systems and processes
- Strong interpersonal, written and verbal communications skills
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., 2020. All rights reserved Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Vet.
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