Risk Division, Operational Risk Team / Role:
Transaction Execution and Processing Risk (TEPR), Automated Trading Level/Location:
Vice President, New York
The Operational Risk Department at Goldman Sachs is an independent risk management function responsible for developing and implementing a standardized framework to identify, measure, and monitor operational risk across the firm. Position Overview:
The TEPR team is a 2nd Line of Defense (2LoD) team with a focus on independently overseeing and challenging the processing & execution risks of transaction lifecycles of the Firm.
We are seeking a Vice President of Transaction, Execution and Processing Risk (TEPR) team to support the team's efforts in managing the transaction-related operational risks across the Firm, with a specific focus on automated trading risks. This role requires a deep understanding of financial transaction lifecycles as well as understanding of a financial institution's operational risk management framework (ORMF) elements. The successful candidate will provide subject matter expertise and set the strategic direction in managing transaction, execution and process risks of the Firm, oversee proper execution of the Firm's ORMF and collaborate with senior stakeholders within the Risk Division and across relevant business Segments of the Firm. Responsibilities:
- Assist in the development, implementation and maintenance of the firm's strategy for managing automated trading risks, aligning with the Firm's overall risk management framework.
- Understand the process flows of the automated trading across multiple business segments
- Define and advance initiatives related to second line oversight of automated trading
- Set minimum controls requirements for automated trading activities
- Identify, analyze and challenge transaction automated trading risks with a horizontal view across relevant business Segments
- Utilize data analytics and reporting tools to support the 2LoD analyses and challenges
- Establish a 2LoD metrics program to support a qualitative/quantitative approach to ongoing monitor, triggers, escalation, and mitigating actions of the relevant control vulnerabilities and risk profile changes
- Facilitate operational risk event management framework and data collection, including the detailed reviews of significant automated trading events to ensure appropriate remediation plans are implemented, and identification of trends to identify significant or emerging automated trading risks.
- Review and evaluate new business initiatives and firm acquisitions to identify changes to the operational risk profile of the division and analyze automated trading risk, where required
- Conduct quarterly trigger assessments for divisions to ensure the risk and control self -assessment (RCSA) and tail scenarios remain accurately assessed and current, with emphasis on automated trading
- Facilitate challenge of 1st line RCSA and Control Assessment ratings to ensure appropriate measurement approach and rationale has been employed
- Conduct scenario analysis by working with stakeholders to develop and quantify scenarios measuring tail risks used for stress testing and capital calculations
- Contribute to the advancement of operational risk methods and practices and the operational risk management framework, with emphasis on advancing automated trading oversight.
This role requires an energetic self-starter that can liaise with stakeholders across business Segments and support functions both regionally and globally. Familiarity with the concepts of operational risk, the firm's process flows and control environment, subject matter expertise in automated trading and market access rules, combined with strong interpersonal and analytical skills and a penchant for problem solving are necessary for this role. Qualifications:
ABOUT GOLDMAN SACHS
- Bachelor's degree or equivalent required
- Master's degree in related field, and professional certifications in risk management are desirable but not mandatory
- 7+ years of relevant experience in operational risk management, with subject matter expertise in managing automated trading risks or related areas within the financial services industry.
- Expertise in automated trading and related market access rules such as SEC Rule 15c3-5 and MiFID II RTS-6
- Familiarity with enterprise risk management best-practices and controls
- Strong verbal and written communication skills
- The ability to present with impact and build consensus across senior stakeholder groups
- Ability to work in a fast-paced environment with a focus on delivery
- Strong analytical abilities, including the use of data and visualization of data to aid strategy discussion with proficiency in Excel, PowerPoint, and Sharepoint - Alteryx, Tableau & SQL are a plus
- Quick learner who can thrive working as part as a cross-regional team and individually
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.
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© The Goldman Sachs Group, Inc., 2021. All rights reserved.
Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity Salary Range
The expected base salary for this New York, New York, United States-based position is $130000-$260000. In addition, you may be eligible for a discretionary bonus if you are an active employee as of fiscal year-end. Benefits
Goldman Sachs is committed to providing our people with valuable and competitive benefits and wellness offerings, as it is a core part of providing a strong overall employee experience. A summary of these offerings, which are generally available to active, non-temporary, full-time and part-time US employees who work at least 20 hours per week, can be found here .