The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout the firm.

Our Risk division develops comprehensive processes to monitor, assess, and manage the risk of expected and unexpected events that may have an adverse impact on the firm. Risk professionals execute critical day-to-day risk management activities, lead projects and contribute to the ongoing advancement of a robust risk management program. Effective coordination with executive management, business units, control departments and technology is critical for success.

The Model Risk Management (MRM) group is a multidisciplinary group of quantitative experts at Goldman Sachs with presence in New York, Dallas, London, Warsaw, Hong Kong, Bangalore and Hyderabad. MRM is responsible for independent oversight of the firm’s model risk, ensuring compliance with the Model Control Policy, and evidencing effective challenge over model development, documentation, implementation, and usage.

The group’s primary mandate is to manage risk that arises from model use through the firm’s range of businesses – including derivatives, securities and other investments’ valuation; market, credit and operational risk management; liquidity and capital computations; and more.
 
 JOB RESPONSIBILITIES - Model Governance

Drive efforts to increase efficiency and automation of model risk management workflowsEstablish, maintain and enforce the MRM framework and governance structureDesign and Develop automation and analytics tools for Model Risk managementCoordinate regulator requests on model risk management topics, respond to analysis and documentation requests, and support advocacy discussionsLiaise with Technology to maintain systems that support model risk management workflowsCoordinate with the stakeholders to translate the requirements into development tasksEvaluate compliance with key regulatory rules, engage in new activity impact assessments and approvals, engage with key committees and governing bodies, and maintain key policies and proceduresOversee ongoing Model performance monitoring jointly with Model Validation and enforce change control proceduresManage Model validation findings, including tracking and escalation of findingsManage the firmwide model inventory including maintaining model inventory data integrity by resolving exceptions from automated checks on inventory changes, resolving inquiries from model stakeholders, and providing ad-hoc analysis on model inventoryWork closely with model validators to understand and communicate the results of model validation activities and model limitations to internal and external stakeholders, including senior management 

Qualifications 

Strong development skills in Java and PythonExperience in web applications, using Spring boot, Fast API, Dash etc. is preferred but not requiredExcellent object-oriented development skillset, to write modular, testable and scalable codeStrong verbal and written communication, able to communicate deliverables across various seniority levels and to both internal and external stakeholders including regulators.Excellent analytical, quantitative, interpersonal, and organizational skills. Team oriented. At least 2-3 years of industry experience preferredBachelor’s degree in computer science, electrical engineering, mathematics, financial engineering, or finance preferred but not requiredPreferable: Financial industry experience. Model development and/or validation experience.