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- Tasks: Lead risk management activities and validate models to ensure compliance and effectiveness.
- Company: Goldman Sachs is a global leader in investment banking and financial services, founded in 1869.
- Benefits: Enjoy diverse opportunities for growth, wellness programs, and a commitment to inclusion.
- Why this job: Join a dynamic team of quantitative experts making impactful decisions in a collaborative environment.
- Qualifications: Ideal candidates have degrees in quantitative fields and strong analytical and programming skills.
- Other info: This role offers a chance to work in a prestigious firm with a focus on professional development.
The predicted salary is between 54000 - 84000 £ 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.
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.
Responsibilities- Perform independent validation and approval of models, including raising and managing model validation findings
- Conduct annual review and revalidation of existing Models
- Oversee ongoing model performance monitoring, including benchmarking, process verification and outcome analysis performed by model developers
- Communicate the results of model validation activities, model limitations and uncertainties to the key stakeholders and management
MRM considers candidates of all degree types, with preference for those in quantitative fields such as math, physics, engineering, computer science, or financial engineering. For certain positions, advanced degrees (e.g., PhD, MFE) may be required. Excellent analytical, quantitative, interpersonal, and organizational skills. Team oriented. Strong programming skills.
Additional skills/experiences that we value:
- Model development and/or validation
- Electronic trading development and/or validation
- Algorithmic/quantitative/systematic trading strategies, hedge funds, credit risk management
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, Vice President/Executive Director, 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, Vice President/Executive Director, London
✨Tip Number 1
Network with professionals in the risk management field, especially those who work at Goldman Sachs or similar firms. Attend industry events, webinars, and conferences to make connections and learn about the latest trends in model risk management.
✨Tip Number 2
Familiarise yourself with the specific models and tools used in model risk management. Understanding the technical aspects and being able to discuss them confidently can set you apart during interviews.
✨Tip Number 3
Prepare for behavioural interview questions by reflecting on your past experiences in risk management. Think of examples that demonstrate your analytical skills, teamwork, and ability to communicate complex ideas effectively.
✨Tip Number 4
Stay updated on regulatory changes and best practices in model risk management. Being knowledgeable about current compliance standards will show your commitment to the role and the firm’s objectives.
We think you need these skills to ace Risk, Model Risk Management, Vice President/Executive Director, London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in risk management and model validation. Use specific examples that demonstrate your analytical and quantitative skills, as well as any programming expertise you possess.
Craft a Strong Cover Letter: Your cover letter should reflect your understanding of Goldman Sachs' risk management processes. Discuss how your background aligns with the responsibilities outlined in the job description, and express your enthusiasm for contributing to their team.
Highlight Relevant Qualifications: Clearly state your educational background, especially if you have degrees in quantitative fields like math or engineering. If you hold an advanced degree, mention it prominently, as it may be preferred for this role.
Showcase Teamwork and Communication Skills: Since effective coordination with various departments is crucial, provide examples of past experiences where you successfully collaborated with teams or communicated complex information to stakeholders.
How to prepare for a job interview at Goldman Sachs
✨Understand the Role and Responsibilities
Before the interview, make sure you thoroughly understand the specific responsibilities of the Vice President/Executive Director in Model Risk Management. Familiarise yourself with the key tasks such as model validation, performance monitoring, and communication with stakeholders.
✨Showcase Your Quantitative Skills
Given the emphasis on quantitative expertise, be prepared to discuss your analytical and programming skills in detail. Bring examples of past projects or experiences where you successfully applied these skills, especially in model development or validation.
✨Prepare for Technical Questions
Expect technical questions related to risk management and model validation. Brush up on relevant theories, methodologies, and tools used in the industry. Being able to articulate your thought process during problem-solving will impress the interviewers.
✨Demonstrate Team Collaboration
Since effective coordination with various departments is crucial, be ready to share examples of how you've successfully worked in teams. Highlight your interpersonal skills and ability to communicate complex ideas clearly to non-technical stakeholders.
