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    Model Risk - New York, NY, United States - Goldman Sachs

    Goldman Sachs
    Goldman Sachs New York, NY, United States

    3 weeks ago

    Default job background
    Full time
    Description
    Risk Division

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

    DEPARTMENT OVERVIEW

    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, and Bangalore
    The MRM group is responsible for independent oversight of Model Risk at the firm, ensuring compliance with Firmwide Policy on Model Control and related standards, including documentation to evidence effective challenge over the Model development, implementation and usage of Models

    The group's primary mandate is to manage risk that arises from models used in the firm through its range of businesses- from models used for derivatives valuation to models used for risk management, liquidity and capital computations
    In addition to independently reviewing these classes of models for their validity, theoretical consistency and implementation accuracy, the group is also responsible to assess the risk associated with model choice, e.g., exposure to choice of model in various contexts such as pricing exotic options or in calculating capital

    JOB RESPONSIBILITIES
    • Perform independent validation and approval of models, including raising and managing model validation findings
    • Conduct annual review and revalidation of existing Models
    • Oversee ongoing model performance monitoring, including benchmarking, process verification and outcome analysis performed by model developers
    • Communicate the results of model validation activities, model limitations and uncertainties to the key stakeholders and management
    QUALIFICATIONS
    • MRM considers candidates of all degree types, with preference for those in quantitative fields such as math, physics, engineering, computer science, or financial engineering
      For certain positions, advanced degrees (eg, PhD, MFE) may be required.
    • Excellent analytical, quantitative, interpersonal, and organizational skills
      Team oriented.
    • Strong programming skills.
    • Additional skills/experiences that we value:
      • Model development and/or validation
      • Electronic trading development and/or validation
      • Algorithmic/quantitative/systematic trading strategies, hedge funds, credit risk management
    ABOUT GOLDMAN SACHS

    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

    Salary Range
    The expected base salary for this New York, New York, United States-based position is $110,000-$180,000
    In addition, you may be eligible for a discretionary bonus if you are an active employee as of fiscal year-end

    Benefits
    Goldman Sachs is committed to providing our people with valuable and competitive benefits and wellness offerings, as it is a core part of providing a strong overall employee experience
    A summary of these offerings, which are generally available to active, non-temporary, full-time and part-time US employees who work at least 20 hours per week, can be found here
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