Risk-New York-Vice President-Model Risk

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

Job summary

An established industry player is seeking a Vice President for its Model Risk Management team in New York. This role involves validating and approving quantitative models, ensuring compliance with standards, and communicating outcomes to stakeholders. The ideal candidate will possess a strong quantitative background, an advanced degree in a relevant field, and excellent problem-solving skills. This dynamic position offers the opportunity to work in a fast-paced environment, leveraging machine learning and stochastic modeling to drive impactful decisions in financial markets. Join a team of experts and contribute to the firm's commitment to excellence in model risk management.

Qualifications

• Strong quantitative and technical backgrounds are essential.
• Experience in financial markets and eagerness to learn new technologies.

Responsibilities

• Validate and approve quantitative models for soundness and methodology.
• Develop alternative benchmark models to assess model risk.
• Communicate validation outcomes to stakeholders and management.

Skills

Quantitative problem solving

Stochastic modeling

Numerical simulation

Data analysis

Machine learning

Communication skills

Organizational skills

Team orientation

Education

PhD in quantitative fields

Master of Financial Engineering (MFE)

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

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.

Job Info

• Job Identification 137676
• Job Category Vice President
• Posting Date 04/07/2025, 03:48 PM
• Locations New York, New York, United States