Job Description
The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout the firm.
RISK - FINANCE RISK
Responsibilities
The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout the firm. The mission of Risk Division is to effectively identify, monitor, evaluate and manage the firm's financial and operational risks (including reputational risk) in support of the firm's strategic plan, and in a manner consistent with the objectives set out in the firm's Board-approved Risk Appetite Statement. Through comprehensive processes, which include critical analysis, evaluating stress scenarios, dynamically managing risk, and prudently balancing risk and reward, the Risk Division plays a critical 2nd line of defense role. Finance Risk is the independent risk management function responsible for identifying, quantifying and managing the firm's liquidity and accrual rates risk. We work closely with Corporate Treasury, Global Banking and Markets, Asset and Wealth Management and Platform Solutions, as well as the broader Risk organization to provide independent risk assessment and oversight of the firm's risk taking. Key functions include:
- Stress Testing: Methodology development, model creation and governance, assumption review and approval and risk management
- Risk Oversight: Monitor, govern, and challenge Corporate Treasury execution activities, including liquidity and funding projections, accrual rates risk management, liability management, cash & collateral management, funds transfer pricing, balance sheet usage
- Risk Limit Governance: Setting risk appetite, calibration of risk limits, sign-off on limits frameworks, and ongoing monitoring of limit utilization and remediation
- Regulatory Stress Metrics, Liaison, & Advocacy: Calculation and disclosure of key regulatory stress metrics, guidance and rule interpretation, engagement with global regulators, and policy advocacy
- Governance & Reviews: Ongoing evaluation of compliance with key regulatory regimes, new activity impact assessments and approvals, engagement with key committees and governing bodies, and maintenance of key policies and procedures
- Active and ongoing engagement with risk taking businesses to understand, monitor, and govern risk taking activities
- Direct engagement with Risk Leadership and global regulators regarding material risks, current risk exposures, and limits governance
Responsibilities
- Develop in-depth understanding of the firm's liquidity risk and accrual rates risk under different scenarios; identify and challenge qualitative assumptions
- Work with engineering teams to model liquidity risks under various stress scenarios; propose, calibrate, and implement appropriate assumptions
- Develop and implement governance frameworks and policies for controlling the firm's accrual rates risk
- Monitor risk taking and limit utilization; engage in breach remediation, and escalation workflow
- Engage directly with Corporate Treasury and risk taking businesses to understand strategy, assess new activities, enforce limits, comply with regulatory requirements, and challenge proposals
- Engage periodically with regional regulators to explain the firm's risk posture, clarify rule interpretations, respond to analysis and data requests, and support advocacy discussions.
- SKILLS AND RELEVANT EXPERIENCE 0-2 years of experience in banking or capital markets, preferably in Treasury or Treasury oversight function
- Strong academic background and quantitative skills
- Interest in financial markets and risk management, motivated by learning and continuous improvement
- Ability to work independently, form own judgment/opinions, provide insights and drive change
- Proactive with strong analytical, interpersonal and communication skills and ability to build relationships remotely
- Ability to interact with and build relationships with people from different departments and levels of seniority
- Strong verbal and written communication skills
- Prior knowledge of liquidity risk or interest rate risk metrics (Liquidity Coverage Ratio, Net Stable Funding Ratio, Internal stress testing, Interest Rate Risk in the Banking Book, Economic Value of Equity) is preferred
About Goldman Sachs
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.
We're committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: https://www.goldmansachs.com/careers/footer/disability-statement.html
The Goldman Sachs Group, Inc., 2023. All rights reserved.
Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity
Same Posting Description for Internal and External Candidates
