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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.

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
• 2+ Years of 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