Risk-New York-Vice President-Model Risk

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

Job summary

An established industry player seeks dynamic individuals for its Model Risk Management team in New York. This role involves validating and approving quantitative models, ensuring compliance with standards, and assessing model risk. Ideal candidates will have a strong quantitative background, advanced degrees, and excellent problem-solving skills. Join a collaborative environment where your contributions will directly impact the firm's operations and client services. With a commitment to diversity and inclusion, this forward-thinking organization offers competitive salaries and a comprehensive benefits package, making it a great place to grow your career.

Qualifications

• Strong quantitative and technical backgrounds with interest in financial markets.
• Advanced degree in quantitative fields like math, physics, or engineering.

Responsibilities

• Validate and approve models by verifying soundness and methodology.
• Assess model risk and develop alternative benchmark models.
• Communicate validation outcomes to key stakeholders.

Skills

Quantitative Problem Solving

Stochastic Modeling

Numerical Simulation

Data Analysis

Machine Learning

Communication Skills

Organizational Skills

Team Orientation

Education

PhD in Quantitative Fields

Master in Financial Engineering

Degree in Math, Physics, Engineering, or Computer Science

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 performance


• Communicate 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.