Risk - Model Risk Management - Associate / Vice President - London
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.
- 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
CONSUMER AND INVESTMENT MANAGEMENT DIVISION (CIMD)
- 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 (eg, 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
The Consumer and Investment Management Division includes Goldman Sachs Asset Management (GSAM), Private Wealth Management (PWM) and our Consumer business (Marcus by Goldman Sachs). We provide asset management, wealth management and banking expertise to consumers and institutions around the world. CIMD partners with various teams across the firm to help individuals and institutions navigate changing markets and take control of their financial lives.
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