MORE ABOUT THIS JOB RISK The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout the firm .
RESPONSIBILITIES AND QUALIFICATIONS JOB SUMMARY AND RESPONSIBILITIES WHO WE ARE
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 high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centres around the world.
DIVISIONAL OVERVIEW/WHAT WE DO The Risk Governance department is a newly established function in the Risk Division, with oversight across risk disciplines (i.e. market risk, credit risk, operational risk, and liquidity risk). It is responsible for managing the Division's regulatory risk and operational risk. The group designs, operates and reports on all aspects of governance framework, including development of standards, guidelines, internal control and self-assessment framework and tracking of key performance indicators. It also manages regulatory interactions, policy/regulatory obligations and leads the communication with internal and external parties, including our regulators. In performing its role, the Risk Governance department works closely with all areas within the Risk Division, as well as with various groups across the firm including Controllers, Securities Division, Internal Audit, Technology. Specific to this role, the team partners with the Credit Risk Management ("CRM") department, to ensure appropriate oversight of credit risk related regulatory requirements, including advanced Basel 3 capital methodologies, ICAAP, the assessment of new regulation and the development and implementation of associated processes, analytics and reports.
RESPONSIBILITIES As an Associate in Risk Governance - Credit Risk Regulation based in London, you will play a key role in the oversight of credit risk management regulation and overall capital adequacy process at Goldman Sachs and be responsible for leading projects and participating in activities primarily related to these important regulatory initiatives. Primary responsibilities include:
Protect and manage the firm's capital by developing or enhancing internal risk-based methodologies under Basel 3 advanced capital frameworks.
Performing parameter quantification (exposure at default / probability of default / loss given default) of Wholesale credit risk portfolios for use in risk based capital requirements
Interacting with Regulators as part of the ongoing supervision process and applications for permission.
Monitoring, analysing and explaining changes in the firm's credit risk exposures and capital requirements across products, sectors and regions
Interacting with Regulatory Controllers and other stakeholders to ensure the appropriateness of processes and accuracy of credit risk capital calculations and input risk parameters
Stress testing of various sources of credit risk, including Credit Valuation Adjustment (CVA)
Assessing Basel III capital requirements for prospective transactions
Providing input into regulatory rule interpretation and policy related decision making
Project managing the implementation of various process and technology initiatives related to Basel III
Minimum of 3 years of experience
Significant experience in Basel 3 regulation, including methodologies for AIRB, IMM, Advanced CVA VaR and the application of such guidance within a large financial institution.
Demonstrable track record of independent assessment of regulatory interpretation, decision making and the ability to steer business negotiations
Strong familiarity with investment banking products including loan products and derivatives
Strong documentation, analytical, presentational and communication skills required
Ability to comfortably and effectively interact with quantitative model developers, internal risk experts, and various stakeholders outside of CRM
Strong organizational skills and the ability to manage multiple assignments concurrently
Proficient in Excel, PowerPoint and Word
Functional Expertise - Keeps up-to-date with emerging regulation, as well as business, economic, and market trends that may have implications for credit risk capital.
Technical Skills - Demonstrates strong technical skills required for the role, pays attention to details, takes initiative to broaden his/her knowledge and demonstrates appropriate financial/analytical skills
Drive and Motivation - Successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
Client and Business Focus - Effectively handles challenging requests, builds long-term relationships with internal and external stakeholders, helps to identify/define needs and manages expectations.
Teamwork - Gives evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions
Communication Skills - Communicates what is relevant and important in a clear and concise manner, shares information/new ideas with others, and demonstrates judgment to escalate as appropriate.
Judgment and Problem Solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives. Sees the big picture and effectively analyses complex issues
Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
ABOUT GOLDMAN SACHS 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.