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- Tasks: Validate and approve quantitative models, assess model risk, and communicate findings to stakeholders.
- Company: Goldman Sachs is a leading global investment banking and investment management firm with a commitment to diversity.
- Benefits: Enjoy training opportunities, wellness programs, and a culture that values personal and professional growth.
- Why this job: Join a dynamic team of experts in a fast-paced environment, making impactful decisions in finance.
- Qualifications: Advanced degree in quantitative fields; strong problem-solving skills and interest in financial markets required.
- Other info: Remote work options may be available; we support candidates with special needs during recruitment.
The predicted salary is between 43200 - 72000 £ per year.
Our Risk teams develop comprehensive processes to monitor, assess, and manage the risk of expected and unexpected events that may have an adverse impact on the firm. Risk professionals execute critical day-to-day risk management activities, lead projects, and contribute to the ongoing advancement of a robust risk management program. Effective coordination with executive management, business units, control departments and technology is critical for success.
Goldman Sachs Model Risk Management (MRM) is a multidisciplinary group of quantitative experts located in New York, Dallas, London, Warsaw, Hong Kong, and Bangalore. MRM is responsible for independent oversight and approval of all the firm's quantitative models, ensuring compliance with both internal and supervisory standards. There are a wide variety of models used in the firm across its range of businesses, including ones used for derivatives valuation, risk management, electronic trading. Mathematical methods employed by these models include stochastic processes, machine learning, optimization techniques, statistical analyses and numerical techniques.
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 & EXPERIENCE
- 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 an advanced degree (e.g. PhD, MFE) in quantitative fields such as maths, physics, engineering, computer science, or financial engineering.
- Applicants should possess the following:
- Excellent quantitative problem-solving skills.
- Experience in stochastic modeling, numerical simulation, and data analysis.
- Machine learning knowledge (preferred).
- 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.
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.
We’re committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process.
Risk, Model Risk Management, Associate, London employer: Goldman Sachs
Contact Detail:
Goldman Sachs Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Risk, Model Risk Management, Associate, London
✨Tip Number 1
Familiarise yourself with the latest trends in quantitative finance and model risk management. Understanding current methodologies and technologies used in the industry will help you engage in meaningful conversations during interviews.
✨Tip Number 2
Network with professionals in the field of model risk management. Attend relevant conferences, webinars, or local meetups to connect with individuals who can provide insights into the role and potentially refer you to opportunities at Goldman Sachs.
✨Tip Number 3
Brush up on your communication skills, especially when it comes to explaining complex quantitative concepts. Being able to convey your ideas clearly and concisely will set you apart from other candidates.
✨Tip Number 4
Demonstrate your eagerness to learn new technologies and programming languages by working on personal projects or contributing to open-source initiatives. This shows initiative and a commitment to continuous improvement, which is highly valued in the fast-paced environment at Goldman Sachs.
We think you need these skills to ace Risk, Model Risk Management, Associate, London
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and skills required for the Risk, Model Risk Management Associate position. Tailor your application to highlight relevant experiences and qualifications that align with the job description.
Highlight Quantitative Skills: Since the role requires strong quantitative problem-solving skills, ensure your CV and cover letter emphasise your experience in stochastic modeling, numerical simulation, and data analysis. Provide specific examples of projects or coursework that demonstrate these abilities.
Showcase Communication Skills: Good communication skills are essential for this role. In your application, include instances where you've successfully explained complex concepts to non-experts or collaborated with diverse teams. This will show your ability to convey information clearly and effectively.
Tailor Your CV and Cover Letter: Customise your CV and cover letter for the application. Use keywords from the job description, such as 'model validation', 'machine learning', and 'financial markets'. This not only shows your interest but also helps your application stand out to recruiters.
How to prepare for a job interview at Goldman Sachs
✨Showcase Your Quantitative Skills
Make sure to highlight your quantitative problem-solving abilities during the interview. Be prepared to discuss specific examples of how you've applied mathematical methods, such as stochastic processes or numerical simulations, in previous roles or projects.
✨Communicate Clearly
Since good communication skills are essential for this role, practice explaining complex concepts in a simple manner. You might be asked to describe a model you’ve worked on, so ensure you can break it down for someone without a technical background.
✨Demonstrate Your Interest in Financial Markets
Express your enthusiasm for financial markets and how they operate. Research current trends and challenges in the industry, and be ready to discuss how they relate to model risk management and the role you're applying for.
✨Prepare for Technical Questions
Expect technical questions related to model validation and risk assessment. Brush up on relevant programming languages and technologies, and be ready to discuss any machine learning techniques you’re familiar with, as these are preferred skills for the position.
