Credit Risk Strategy Associate
2 weeks ago
ABOUT THE POSITION:
Goldman Sachs Bank USA provides a diverse array of financial solutions aimed at assisting our clients in achieving their financial aspirations. Our teams are dedicated to delivering exceptional customer service and support across all operations. The Bank features high-yield savings accounts and a selection of loan products tailored for individuals, private banking, corporate, and community clients.
Consumer and Wealth Management (CWM)
Within Consumer and Wealth Management (CWM), Goldman Sachs is committed to empowering clients globally to realize their financial objectives. Our advisor-led wealth management services encompass financial planning, investment management, banking, and comprehensive advisory for a broad spectrum of clients, including ultra-high net worth and high net worth individuals, family offices, foundations, endowments, and corporations.
Consumer Business Overview
The Consumer division, Marcus by Goldman Sachs, merges the innovative spirit of a startup with over 150 years of industry experience. We currently serve millions of customers through various offerings, including lending, deposits, financial tools, and our collaboration with Apple on the Apple Card. By leveraging innovative design, data analytics, engineering, and other core competencies, we deliver powerful tools and products that emphasize value, transparency, and simplicity.
Key Responsibilities:
The Credit Risk Strategy team is responsible for developing, implementing, and maintaining the underwriting strategy and customer management strategies for the consumer lending sector at Goldman Sachs. We utilize traditional, alternative, and behavioral data to formulate an underwriting policy that ensures risk-adjusted returns. Collaboration with marketing, decision sciences, product, and technology teams is essential to create a customer-centric product and experience.
Your Contributions:
If you have a passion for data analysis, deriving insights, and applying that knowledge to develop new strategies, we are looking for a professional to join our Credit Risk Strategy team. Your skills and ideas will play a crucial role in shaping the credit strategy for our digital consumer lending business.
How You Will Excel:
- Formulate, execute, and uphold credit underwriting strategies for digital lending products.
- Analyze data (including traditional and alternative bureau data, behavioral, and macroeconomic data) using statistical tools and analytical methods to generate insights and enhance credit decisions (accept/decline, pricing, and credit limits).
- Enhance existing customer management strategies to boost customer-level profitability.
- Collaborate with marketing, finance, and operations teams to ensure effective implementation of credit policy requirements.
- Evaluate potential vendors/data providers for added value in credit management strategies within a continuous improvement framework.
- Stay informed on relevant regulations and compliance requirements, interacting with internal and external regulators as necessary.
- Prepare analytical reports and presentations for senior management, executive committees, and regulatory assessments.
Qualifications:
- Bachelor's degree (Master's preferred) in Mathematics, Statistics, Economics, Engineering, or a related field.
- 2+ years of experience in a similar role or in a quantitative research position for analysts, and 5+ years for associates.
Required Experience:
- Experience in building, enhancing, or analyzing risk management within digital consumer or small business lending, or similar data-driven sectors.
- Knowledge of U.S. credit bureau data, risk scorecards, and ability-to-pay assessments.
- Proficiency in SAS, R, Python (or similar) for statistical modeling and time-series data analysis.
- Advanced skills in Microsoft Office, particularly Excel (including pivot tables, logic functions, data tables, and regression analysis), PowerPoint, and Word.
- Ability to visualize complex data analyses and communicate findings to diverse audiences, including senior leadership.
- Experience in developing comprehensive risk management reports using SQL or similar database query languages for large datasets.
- Capability to manage multiple projects simultaneously and drive project delivery from start to finish.
- Experience in creating policy and procedure documentation for credit risk strategy execution.
- Experience in developing and automating quality control processes to ensure the effective execution of credit strategies.
ABOUT GOLDMAN SACHS:
Goldman Sachs is dedicated to leveraging our people, capital, and ideas to assist our clients, shareholders, and the communities we serve in achieving growth. Established in 1869, we are a premier global investment banking, securities, and investment management firm with headquarters in New York and offices worldwide.
We believe that individual uniqueness enhances professional performance. Our commitment to fostering diversity and inclusion within our workplace ensures that every individual has ample opportunities for professional and personal growth through training, development, and wellness programs.
Goldman Sachs is an equal employment/affirmative action employer, welcoming applications from all individuals regardless of gender, race, disability, veteran status, sexual orientation, or gender identity.
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