Credit Risk Strategy Associate

1 week ago

Wilmington, Delaware, United States Goldman Sachs Full time

POSITION OVERVIEW:

Goldman Sachs Bank USA provides a diverse array of financial solutions aimed at assisting our clients in achieving their financial aspirations. Our dedicated teams strive to deliver exceptional customer service and support across all our offerings. The Bank features high-yield savings accounts alongside various lending products tailored for individuals, private banking, corporate entities, and community clients.

Consumer and Wealth Management (CWM)

In the realm of 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 with their employees. Our consumer division offers digital solutions that enhance the ways consumers spend, borrow, invest, and save. Our growth in CWM is fueled by an unwavering focus on our personnel, our clients, and cutting-edge technology, data, and design.

Consumer Division

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 a range of products, including lending, deposits, financial tools, and our collaboration with Apple on the Apple Card. By leveraging innovative design, data, engineering, and other core competencies, we equip customers with effective tools and products that emphasize value, transparency, and simplicity. As we develop a leading digital consumer bank and broaden our product offerings and partnerships, we seek talented leaders and contributors to enhance our team.

KEY RESPONSIBILITIES:

The Credit Risk Strategy team is responsible for formulating, executing, and sustaining the underwriting strategy, along with customer management strategies for the consumer lending sector at Goldman Sachs. We utilize traditional, alternative, and behavioral data to establish an underwriting policy that ensures risk-adjusted returns. Our collaboration extends to marketing, decision sciences, product, and technology teams to create a product and experience centered around the customer. We are in search of individuals who possess strong analytical and problem-solving skills, innovative thinking, and intellectual curiosity, eager to make a significant impact on credit strategy and effectively manage risk.

YOUR CONTRIBUTION:

If you are enthusiastic about data analysis, uncovering insights, and leveraging them to develop new strategies, we invite you to consider a role within our Credit Risk Strategy team. Your expertise and ideas will be instrumental in shaping the credit strategy for our digital consumer lending operations.

HOW YOU WILL MAKE AN IMPACT:

  • Formulate, execute, and sustain credit underwriting strategies for digital lending products.
  • Analyze various data sources (including traditional and alternative bureau data, behavioral data, and macroeconomic indicators) employing statistical tools and analytical techniques to derive 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 the effective implementation of credit policy requirements.
  • Evaluate potential vendors/data providers for additional value in credit management strategies within a continuous improvement framework.
  • Stay informed about relevant regulations and compliance requirements, potentially interacting with internal and external regulators.
  • 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 discipline.
  • 2+ years of experience in a similar role or in a quantitative research capacity for analysts; 5+ years for associates.

REQUIRED EXPERIENCE:

  • Experience in developing, enhancing, or analyzing risk management within digital consumer or small business lending, or similar data-driven sectors such as insurance.
  • Proficiency in U.S. credit bureau data, risk scorecards, and ability-to-pay assessments.
  • Experience with SAS, R, Python (or similar) for statistical modeling and time-series data analysis.
  • Advanced skills in Microsoft Office, particularly Excel (including pivot tables, logical 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 generating comprehensive risk management reports using SQL or a comparable database query language for data extraction from extensive datasets.
  • Proven ability to manage multiple projects concurrently and drive projects to completion.
  • Experience in developing policy and procedural documentation for credit risk strategy execution.
  • Experience in creating and automating quality control processes to ensure the proper execution of credit strategies.

ABOUT GOLDMAN SACHS:

Goldman Sachs is dedicated to leveraging our people, capital, and ideas to support our clients, shareholders, and the communities we serve. 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 diversity enhances our collective performance. We are committed to promoting diversity and inclusion within our workplace and beyond, ensuring that every individual has ample opportunities for professional and personal growth through training, development, benefits, wellness programs, and mindfulness initiatives.

Goldman Sachs is an equal employment/affirmative action employer, welcoming applicants from diverse backgrounds.

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