Risk, Operational Risk - Consumer Deposits, Associate, Frankfurt Frankfurt · Germany · Associate

Goldman Sachs; Frankfurt; Hybrid; EUR 85,000 - 120,000; Full time

Job summary

Goldman Sachs is seeking an Associate to support second-line oversight of the Consumer Deposits risk profile in Frankfurt. You will review first-line risk assessments, help apply the operational risk framework, and translate complex data into management information for senior stakeholders.

The role requires 4+ years in risk, strong data analysis, and the ability to collaborate across regions and functions. Office-based in Frankfurt with exposure to global risk teams and regulatory considerations.

Qualifications

• Core Experience: Minimum 4 years in operational risk, enterprise risk, compliance, second-line risk & controls, internal audit, or related.
• Education: Bachelor’s degree in finance, economics, business, risk management, law, data analytics, computer science, or a related field.
• Risk Management Practices: Experience applying RCSA, control assessments, event & issue management, scenario analysis, risk metrics, and management reporting.
• Second-Line Oversight: Experience providing independent challenge within retail or consumer banking, ideally deposits, savings products, digital banking, or customer operations.
• Data Analysis: Able to analyze large data sets to identify trends, test assumptions, and translate findings into clear risk conclusions.
• Reporting & Communication: Experience preparing management information, dashboards, presentations, and briefing materials for senior stakeholders.

Responsibilities

• Second-Line Oversight: Provide independent oversight of the Consumer Deposits risk profile and challenge first-line risk assessments.
• Framework Application: Support RCSA, control assessments, scenario analysis, events, issues, risk appetite, metrics and reporting improvements.
• Event Review: Review significant risk events, assess root causes, challenge remediation and identify recurring themes.
• Scenario Analysis: Contribute to scenario analysis and quantify risk exposure.
• Change Assessment: Evaluate new products, major changes, outsourcing, and other initiatives for risk impact.
• Risk Record Calibration: Ensure risk assessments and metrics stay current.

Skills

Communication Skills

Analytical Skills

MS Office Proficiency

Technical/Automation Skills

AI Tool Literacy

Education

Bachelor’s degree in finance, economics, business, risk management, law, data analytics or related

Tools

Python

SQL

VBA

Alteryx

Tableau

Job description

RISK

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.

OPERATIONAL RISK

Operational Risk is an independent risk management function within the second line of defense. The function develops and implements a consistent framework to identify, assess, measure, monitor and report operational risk, and provides independent oversight and challenge of the firm's risk profile and control environment.

TEAM & ROLE OVERVIEW

The Associate will support second-line oversight of the Consumer business, this role combines consumer banking and regulatory knowledge with strong risk judgement, data analysis, and clear communication. The successful candidate will work closely with first-line business, operations and control teams while maintaining the independence expected of a second-line risk function. This is a hands-on role for an inquisitive self-starter who can evaluate complex information, identify meaningful risk themes, and translate large or disparate data sets into decision-useful management information and senior-level materials.

RESPONSIBILITIES

• Second-Line Oversight: Provide independent oversight and constructive challenge of the Consumer Deposits operational risk profile. Review and challenge first-line risk assessments, control design and effectiveness conclusions, ratings, remediation plans, and risk-acceptance decisions, escalating material concerns as needed
• Framework Application: Support the application and enhancement of the operational risk framework, including RCSA, control assessments, scenario analysis, operational events, issues, risk appetite, metrics, and reporting.
  • Event Review: Conduct detailed reviews of significant operational risk events, assess root causes and control implications, challenge remediation plans, and identify recurring or emerging risk themes.
  • Scenario Analysis: Contribute to scenario analysis and the assessment and quantification of operational risk exposure.
  • Change Assessment: Evaluate new products, major business or technology changes, outsourcing arrangements, and other initiatives for impact on the risk profile and control environment adequacy.
  • Risk Record Calibration: Perform periodic trigger and change assessments to ensure RCSAs, control assessments, scenarios, and metrics remain current and well-calibrated.
• Regulatory Impact Assessment: Assess the operational risk implications of relevant consumer banking regulations, partnering with Compliance, Legal, and other specialists as needed.
• Risk Indicators & MI: Develop and review risk indicators and management information; analyze trends, concentrations, and outliers to identify areas warranting deeper review.
• Reporting: Prepare clear, accurate reporting, dashboards, presentations, and briefing materials for senior management and governance forums.
• Stakeholder Engagement: Build strong relationships across regional and global teams and contribute to the ongoing development of operational risk methods, practices, and data capabilities.

EXPERIENCE & QUALIFICATIONS

• Core Experience: Minimum 4 years in operational risk, enterprise risk, compliance, second-line risk and controls, internal audit, or a related discipline.
• Education: Bachelor’s degree in finance, economics, business, risk management, law, data analytics, computer science, or a related field.
• Risk Management Practices: Demonstrated experience applying operational risk concepts and practices, including RCSA, control assessments, event and issue management, scenario analysis, risk metrics, and management reporting.
• Second-Line Oversight: Experience providing independent challenge and oversight within retail or consumer banking, ideally covering deposits, savings products, digital banking, or customer operations.
• Data Analysis: Skilled in analyzing large, complex data sets to identify trends and outliers, test assumptions, and translate findings into clear, evidence-based risk conclusions.
• Reporting & Communication: Experience preparing high-quality management information, dashboards, presentations, and briefing materials for senior stakeholders and governance forums.
• Cross-Functional Collaboration: Experience working across business, operations, technology, and control functions within a regulated financial-services environment.
• Regulatory Knowledge: Familiarity with EU and Irish regulations governing consumer banking and deposits.
• Work Style: Strong prioritization and time-management skills; able to work independently or collaboratively, and deliver quality output in a fast-paced, cross-regional setting.

Preferred:

• Product & Process Knowledge: Understanding of consumer deposit products and end-to-end customer journeys, including related operational risks across onboarding, servicing, payments, complaints, account restrictions, fraud interfaces, and customer communications.
• Risk Translation Skills: Demonstrated ability to turn regulatory requirements, risk data, and control information into practical risk assessments and governance-ready materials.
• Project & Stakeholder Management: Project or change-management experience, with effective collaboration across business, engineering, operations, compliance, legal, and audit stakeholders.
• Communication Skills: Excellent written and verbal communication, with the ability to simplify complex risk topics and present them persuasively.
• Analytical Skills: Strong analytical and problem-solving abilities, with keen diligence and sound judgement.
• MS Office Proficiency: Advanced Excel and PowerPoint skills, with experience producing robust analysis, management information, and senior-level presentations.
• Technical/Automation Skills: Proficiency with coding or data tools (e.g., Python, SQL, VBA, Alteryx, Tableau) to drive efficient, high-quality, repeatable reporting.
• AI Tool Literacy: Practical experience using AI tools for research, analysis, or drafting, applied with sound judgement on confidentiality, data protection, and validation.

Skills

• Communication Skills: Excellent written and verbal communication, with the ability to simplify complex risk topics and present them persuasively.
• Analytical Skills: Strong analytical and problem-solving abilities, with keen diligence and sound judgement.
• MS Office Proficiency: Advanced Excel and PowerPoint skills, with experience producing robust analysis, management information, and senior-level presentations.
• Technical/Automation Skills: Proficiency with coding or data tools (e.g., Python, SQL, VBA, Alteryx, Tableau) to drive efficient, high-quality, repeatable reporting.
• AI Tool Literacy: Practical experience using AI tools for research, analysis, or drafting, applied with sound judgement on confidentiality, data protection, and validation.

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 .

Goldman Sachs is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, national origin, age, veterans status, disability, or any other characteristic protected by applicable law.

Healthcare & Medical Insurance

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Financial Wellness & Retirement

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We offer a medical advocacy service for employees and family members facing critical health situations, and counseling and referral services through the Employee Assistance Program (EAP). We provide Global Medical, Security and Travel Assistance and a Workplace Ergonomics Program. We also offer state-of-the-art on-site health centers in certain offices.

Fitness

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Child Care & Family Care

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