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Risk-Bengaluru-Vice President-Model Risk

Goldman Sachs

Goldman Sachs

Bengaluru, Karnataka, India
Posted on Thursday, June 6, 2024

Job Description

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

JOB TITLE – Risk - Model Risk Management- VP - Bengaluru
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. We commit people, capital and ideas to help our clients, shareholders and the
communities we serve to grow. Our people are our greatest asset – we say it often and with good
reason. It is only with the determination and dedication of our people that we can serve our clients,
generate long-term value for our shareholders and contribute to the broader public. We take pride in
supporting each colleague both professionally and personally. From collaborative workspaces and
ergonomic services to wellbeing and resilience offerings, we offer our people the flexibility and
support they need to reach their goals in and outside the office.
RISK BUSINESS
The Risk Business identifies, monitors, evaluates, and manages the firm’s financial and non-financial
risks in support of the firm’s Risk Appetite Statement and the firm’s strategic plan. Operating in a fast
paced and dynamic environment and utilizing the best in class risk tools and frameworks, Risk
teams are analytically curious, have an aptitude to challenge, and an unwavering commitment to
excellence.
BUSINESS UNIT: 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.
The analysis and reporting team is a new function within the MRM group that is responsible for
analyzing, monitoring and reporting on model risk for the firm. The group works collaboratively with
the model validation team to understand and communicate results of model validation activities,
changes in model risk and other model-related issues to key stakeholders and management.
WHAT WE LOOK FOR
This business is ideal for collaborative individuals who have strong ethics and attention to detail.
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 MRM group looks for people with strong quantitative and technical backgrounds and a strong
interest in financial markets. We seek bright and dynamic individuals with a degree in quantitative
fields such as math, physics, engineering, computer science, or financial engineering.
RESPONSIBILITIES
• Perform validation and approval of the firm’s models by verifying conceptual soundness,
methodology, and implementation, and by identifying limitations and uncertainties
• Assess and quantify model risk by developing alternative benchmark models
• Oversee monitoring of ongoing model performance
• Communicate validation outcomes to key stakeholders and management
SKILLS AND RELEVANT EXPERIENCE
• Excellent quantitative problem solving skills
• Experience in stochastic modeling, numerical simulation, and data analysis
• Machine learning knowledge
• Good communication skills with the ability to explain complex problems in a simple way
• Eagerness and ability to learn new technologies and programming languages
• Excellent organizational skills
• Team orientation and ability to work in a fast paced environment
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 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., 2023. All rights reserved.
Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity