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Risk-Hyderabad-Vice President-Model Risk

  • Job
    Full-time
    Expert Level
  • Data
    Banking & Finance
  • Hyderabad, +1

AI generated summary

  • You should have a quantitative degree, strong problem-solving skills, experience in stochastic modeling, machine learning knowledge, and good communication skills. Be eager to learn and work well in teams.
  • You will validate models, assess model risk, develop benchmark models, monitor performance, and communicate findings to stakeholders and management.

Requirements

  • This business is ideal for collaborative individuals who have strong ethics and attention to detail.
  • 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 a 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 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

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

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.

Finance
Industry
10,001+
Employees
1869
Founded Year

Mission & Purpose

Goldman Sachs is a global investment banking, securities, and investment management firm. They offer a range of financial services to corporations, financial institutions, governments, and individuals. Goldman Sachs' primary activities include investment banking, asset management, securities trading, and providing advisory services. Their ultimate mission is to be a leading global financial institution, providing superior financial expertise and solutions to their clients. The purpose of Goldman Sachs is to help their clients achieve their financial goals, manage risk, and navigate complex markets. They aim to drive economic growth, foster innovation, and create long-term value for their clients, shareholders, and the communities they operate in. Goldman Sachs is committed to upholding the highest standards of integrity, professionalism, and client service, serving as a trusted partner and advisor in the world of finance.

Culture & Values

  • Partnership

    We prioritize collaboration and believe in the strength of the collective, creating a culture that fosters teamwork and belonging in the pursuit of professional and personal growth.

  • Client Service

    We lead with a service mindset, working to earn our clients’ trust and exceed their expectations by understanding and overdelivering on their goals.

  • Integrity

    We hold ourselves accountable to the highest ethical standards, insisting on transparency and vigilance from our people as we learn from our experiences and make decisions that instill a sense of pride in our firm.

  • Excellence

    We aspire to nothing less than excellence, striving for exceptional performance and superior results for our clients, our shareholders, and our communities.

Benefits

  • Holiday and Vacation Policies

    We offer competitive vacation policies based on employee level and office location. This is in addition to any number of statutory and public holidays as determined by each office. We promote time off from work to recharge by providing generous vacation entitlements and a minimum of three weeks expected vacation usage each year.

  • Financial Wellness & Retirement

    The firm provides a number of resources and offerings designed to help our employees achieve their personal financial goals. We assist employees in saving and planning for retirement, offer financial support for higher education, and provide a number of benefits to help employees prepare for the unexpected. We offer live financial education and content on a variety of topics to address the spectrum of employees’ priorities — from buying a home, to navigating market volatility and investments, legacy and estate planning, tax strategies, and will preparation.

  • Health Services

    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.

  • Childcare / Family Care

    In some offices, we offer on-site child care centers that provide full-time and emergency back-up care, as well as mother and baby rooms and homework rooms. In every office, we provide advice and counseling services, expectant parent resources and transitional programs for parents returning from parental leave. Adoption, surrogacy, egg donation and egg retrieval stipends are also available.

  • Flexible Working

    Based on manager approval, the following arrangements may be available to help employees meet their personal and family responsibilities: part-time schedules, job sharing, telecommuting, and alternate hours.