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Model Risk Governance-Vice President

3 months ago


Dallas, United States The Goldman Sachs Group, Inc Full time
Job Description

The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout the firm.

The Model Risk Management (MRM) group is a multidisciplinary group of quantitative experts at Goldman Sachs with presence in New York, Dallas, London, Warsaw, Hong Kong, and Bangalore. MRM is responsible for independent oversight of the firm's model risk, ensuring compliance with the Model Control Policy, and evidencing effective challenge over model development, documentation, implementation, and usage.

The group's primary mandate is to manage risk that arises from model use through the firm's range of businesses - including derivatives, securities and other investments' valuation; market, credit and operational risk management; liquidity and capital computations; and more.

JOB RESPONSIBILITIES - Model Governance
  • Establish, maintain and enforce the MRM framework and governance structure
  • Engage with regulators on model risk management topics, respond to analysis and documentation requests, and support advocacy discussions
  • Evaluate compliance with key regulatory rules, engage in new activity impact assessments and approvals, engage with key committees and governing bodies, and maintain key policies and procedures
  • Develop and maintain firmwide requirements supporting the MRM framework
  • Oversee ongoing Model performance monitoring jointly with Model Validation and enforce change control procedures
  • Manage Model validation findings, including tracking and escalation of findings
  • Communicate and coordinate with Compliance to train key stakeholders on Model Control Policy and related requirements, including any significant changes
  • Maintain model inventory data integrity by resolving exceptions from automated checks on inventory changes
  • Help process new model classifications, changes, deactivations
  • Provide ad-hoc analysis on model inventory
  • Liaise with Technology to maintain systems that support model risk management workflows
  • Resolve inquiries from model stakeholders and owners on model inventory
  • Drive efforts to increase efficiency and automation of model risk management workflows
  • Work closely with model validators to understand and communicate the results of model validation activities and model limitations to internal and external stakeholders, including senior management
Qualifications
  • Strong verbal and written communication, able to communicate deliverables across various seniority levels and to both internal and external stakeholders including regulators.
  • Strong leadership skills with experience managing a team.
  • Excellent analytical, quantitative, interpersonal, and organizational skills. Team oriented.
  • Preferable: Financial industry experience. Model development and/or validation experience.
  • Programming skills, including object-oriented languages and scripts (e.g., SQL, Access, VBA) beneficial but not required.
  • Bachelor's degree in mathematics, computer science, hard sciences, financial engineering, or finance preferred but not required