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Nu Advisory Partners

Risk, Operational Risk (Consumer Banking) - Associate, Delaware / Dallas / Salt Lake City

Goldman Sachs

Goldman Sachs

Wilmington, DE, USA
Posted on Thursday, June 6, 2024

Job Description

Title: Associate

Location: Wilmington, DE or Dallas, TX or Salt Lake City, UT

Team: Operational Risk

Operational Risk is an independent risk management function (2nd line), responsible for developing and implementing a standardized framework to identify, measure, and monitor operational risk across the firm. This role requires an energetic self-starter that can liaise with stakeholders across business units and federation teams both regionally and globally. Familiarity with the concepts of operational risk, the firm’s process flows and control environment combined with strong interpersonal and analytical skills and a penchant for problem solving are necessary for this role. The team is dedicated to actively enhancing the risk framework, employing and strengthening risk management, with a focus on Consumer & Wealth Management.

Primary Responsibilities:

  • Oversee operational risk framework within the second line of defense working closely with the first line whilst providing robust and independent challenge
  • Facilitate operational risk event management framework and data collection, including the detailed reviews of significant events to ensure appropriate remediation plans are implemented, and identification of trends to identify significant or emerging risks
  • Review and evaluate new business initiatives and firm acquisitions to identify changes to the operational risk profile of the division and ensure proper controls are in place
  • Conduct quarterly trigger assessments for divisions to ensure the risk and control self -assessment (RCSA) and tail scenarios remain accurately assessed and current
  • Facilitate challenge of 1st line RCSA and Control Assessment ratings to ensure appropriate measurement approach and rationale has been employed
  • Conduct scenario analysis by working with stakeholders to develop and quantify scenarios measuring tail risks used for stress testing and capital calculations.
  • Work with 1st line process owners to develop day to day risk management metrics which quantify the divisions exposure to various types of operational risk; review aggregated results and month over month results to identify trends and thematic areas for review and deep dives
  • Contribute to the advancement of operational risk methods and practices and the operational risk management framework

Basic Qualifications:

  • Bachelor’s degree and 4+ years of relevant experience working in operational risk, relevant revenue generating division, or a control function (e.g., Credit Risk, Compliance, Operational Risk, Finance/Controllers or Audit)
  • Strong verbal and written communication skills
  • The ability to present with impact and build consensus across senior stakeholder groups
  • Ability to work in a fast paced environment with a focus on delivery
  • Strong organizational skills (project management experience a plus)
  • Proficiency in Excel, PowerPoint, and SharePoint – Tableau & SQL are a plus
  • Familiarity with enterprise risk management best-practices and controls
  • Quick learner who can thrive working as part as a cross-regional team and individually

Preferred Qualifications:

  • Experience developing and deploying an operational risk framework for Consumer lending/banking and/or Wealth management
  • Risk assessment experience for change management and process design
  • Business acquisition and integration risk management experience
  • Risk management experience in Digital & Online banking or related area.
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