FAQs
What is the main purpose of the Model Risk Management (MRM) group at Goldman Sachs?
The MRM group is responsible for independent oversight of Model Risk at the firm, ensuring compliance with the Firmwide Policy on Model Control and related standards, while managing risk that arises from models used across the firm’s businesses.
What qualifications are preferred for candidates applying for this position?
Candidates should have a strong quantitative background with a degree in fields such as math, physics, engineering, computer science, or financial engineering.
What specific skills are highlighted as important for this role?
Important skills include excellent quantitative problem-solving abilities, experience in stochastic modeling, numerical simulation, data analysis, knowledge of machine learning, and good communication skills.
What responsibilities are associated with the Vice President of Model Risk at Goldman Sachs?
Responsibilities include performing validation and approval of the firm’s models, assessing and quantifying model risk, overseeing the monitoring of ongoing model performance, and communicating validation outcomes to key stakeholders and management.
Is experience in machine learning valued for this role?
Yes, machine learning knowledge is considered an important skill for candidates applying for this position.
What is the work environment like in the Risk division?
The Risk division operates in a fast-paced and dynamic environment, utilizing best-in-class risk tools and frameworks, with an emphasis on analytical curiosity and a commitment to excellence.
How does Goldman Sachs support the professional growth of its employees?
Goldman Sachs offers various training and development opportunities, firmwide networks, benefits, wellness programs, and personal finance offerings to help employees grow both professionally and personally.
Are there opportunities for collaboration within the team?
Yes, the role is ideal for collaborative individuals, and teamwork is emphasized in the MRM group's operations.
Is prior experience in financial markets required for this role?
While prior experience in financial markets is not explicitly required, a strong interest in financial markets is sought after for candidates applying to the MRM group.
What accommodations are provided for candidates with special needs during the recruitment process?
Goldman Sachs is committed to finding reasonable accommodations for candidates with special needs or disabilities during the recruiting process.