Risk, AI Model Validation, Vice President, New York

Goldman Sachs; New York (NY); On-site; USD 150,000 - 250,000; Full time

Job summary

Goldman Sachs Model Risk Management (MRM) in New York seeks quantitative experts to validate and approve models, ensuring sound methodology and robust implementation. You will identify uncertainties, assess risk through benchmark models, and monitor performance while communicating outcomes to senior stakeholders.

Candidates should hold an advanced degree in quantitative fields, with strong programming, analytical, and collaborative skills suitable for a fast-paced, global financial environment.

Qualifications

• Advanced degree in quantitative fields such as math, physics, engineering, computer science, or financial engineering.
• Excellent quantitative problem solving skills.
• Experience in stochastic modeling, numerical simulation, and data analysis.
• Machine learning knowledge.
• Good communication skills to explain complex problems clearly.
• Eagerness to learn new technologies and programming languages.
• Excellent organizational skills and ability to work in a fast paced environment.
• Team orientation and ability to work collaboratively.

Responsibilities

• Perform validation and approval of the firm's models by verifying conceptual soundness, methodology, and implementation, and by identifying limitations and uncertainties.
• Assess and quantify model risk by developing alternative benchmark models.
• Oversee monitoring of ongoing model performance and communicate validation outcomes to key stakeholders and management.

Skills

Quantitative skills

Stochastic modeling

Data analysis

Machine learning

Communication skills

Learning new tech

Team collaboration

Education

PhD or MFE in quantitative field

Job description

Goldman Sachs Model Risk Management (MRM) is a multidisciplinary group of quantitative experts located in New York, Dallas, London, Warsaw, Hong Kong, and Bangalore. MRM is responsible for independent oversight and approval of all the firm's quantitative models, ensuring compliance with both internal and supervisory standards. There are a wide variety of models used in the firm across its range of businesses, including ones used for derivatives valuation, risk management, electronic trading. Mathematical methods employed by these models include stochastic processes, machine learning, optimization techniques, statistical analyses and numerical techniques.

JOB RESPONSIBILITIES

• Perform validation and approval of the firm's models by verifying conceptual soundness, methodology, and implementation, and by identifying limitations and uncertainties
• Assess and quantify model risk by developing alternative benchmark models
• Oversee monitoring of ongoing model performanceCommunicate validation outcomes to key stakeholders and management

QUALIFICATIONS

The MRM group looks for people with strong quantitative and technical backgrounds and a strong interest in financial markets. We seek bright and dynamic individuals with an advanced degree (e.g. PhD, MFE) in quantitative fields such as math, physics, engineering, computer science, or financial engineering. Applicants should possess the following:

• Excellent quantitative problem solving skills
• Experience in stochastic modeling, numerical simulation, and data analysis
• Machine learning knowledge
• Good communication skills with the ability to explain complex problems in a simple way
• Eagerness and ability to learn new technologies and programming languages
• Excellent organizational skills
• Team orientation and ability to work in a fast paced environment

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

Salary Range

The expected base salary for this New York, New York, United States-based position is $150000-$250000. 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.