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Risk, Model Risk Management, Vice President/Executive Director, London

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Goldman Sachs

13d ago

  • Job
    Full-time
    Senior & Expert Level
  • Data
    Engineering
  • London

AI generated summary

  • You should have a quantitative degree, strong analytical and programming skills, and experience in model development/validation or trading strategies. Advanced degrees are preferred.
  • You will validate and approve models, manage validation findings, conduct annual reviews, oversee performance monitoring, and communicate results and limitations to stakeholders.

Requirements

  • MRM considers candidates of all degree types, with preference for those in quantitative fields such as math, physics, engineering, computer science, or financial engineering. For certain positions, advanced degrees (eg, PhD, MFE) may be required.
  • Excellent analytical, quantitative, interpersonal, and organizational skills. Team oriented.
  • Strong programming skills.
  • Additional skills/experiences that we value:
  • Model development and/or validation
  • Electronic trading development and/or validation
  • Algorithmic/quantitative/systematic trading strategies, hedge funds, credit risk management

Responsibilities

  • Perform independent validation and approval of models, including raising and managing model validation findings
  • Conduct annual review and revalidation of existing Models
  • Oversee ongoing model performance monitoring, including benchmarking, process verification and outcome analysis performed by model developers
  • Communicate the results of model validation activities, model limitations and uncertainties to the key stakeholders and management

FAQs

What qualifications are preferred for candidates applying to the Model Risk Management position?

Candidates with degrees in quantitative fields such as math, physics, engineering, computer science, or financial engineering are preferred. Advanced degrees like a PhD or MFE may be required for certain positions.

What skills are important for this role?

Important skills for this role include excellent analytical, quantitative, interpersonal, and organizational skills, as well as strong programming skills. Being team-oriented is also essential.

What are the primary responsibilities of someone in this position?

The primary responsibilities include performing independent validation and approval of models, conducting annual reviews and revalidations of existing models, overseeing ongoing model performance monitoring, and communicating results to key stakeholders and management.

Where is this position based?

This position is based in London.

What type of experience is valued for candidates applying to this role?

Experience in model development and/or validation, electronic trading development and/or validation, and algorithmic/quantitative/systematic trading strategies, hedge funds, or credit risk management is highly valued.

How does Goldman Sachs support diversity and inclusion?

Goldman Sachs is committed to fostering and advancing diversity and inclusion by ensuring every individual has opportunities to grow professionally and personally, through training, development opportunities, and various support programs.

Does Goldman Sachs offer accommodations for candidates with disabilities during the recruitment process?

Yes, Goldman Sachs is committed to finding reasonable accommodations for candidates with special needs or disabilities during the recruiting process.

What type of models will the Model Risk Management group oversee?

The MRM group will oversee models used for various functions, including derivatives valuation, risk management, liquidity, and capital computations.

Is this role focused on a specific type of model?

No, this role encompasses a range of models used across the firm's businesses, assessing various model types for their validity, theoretical consistency, and implementation accuracy.

What is the main goal of the Model Risk Management group?

The main goal of the MRM group is to manage the risk that arises from models used in the firm, ensuring compliance with Firmwide Policy on Model Control and related standards.

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Goldman Sachs

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.