Credit Risk Strategy Associate

2 weeks ago

Wilmington, Delaware, United States Goldman Sachs Full time

ABOUT THIS POSITION:

Goldman Sachs Bank USA provides a diverse array of financial solutions designed to assist our clients in achieving their financial aspirations. Our dedicated teams strive to deliver exceptional customer service and support in all aspects of our operations. The Bank features high-yield savings accounts alongside a selection of loan products tailored for individuals and various client segments including private banks, corporations, and community organizations.

Consumer and Wealth Management (CWM)

Within Consumer and Wealth Management (CWM), Goldman Sachs is committed to empowering clients globally to reach their financial objectives. Our advisor-led wealth management services encompass financial planning, investment management, banking, and comprehensive advisory services for a diverse clientele, including ultra-high net worth individuals, family offices, foundations, endowments, and corporate entities. Our consumer division offers digital solutions that enhance how individuals spend, borrow, invest, and save. The growth of CWM is fueled by our 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 drive of a startup with over 150 years of expertise. We currently serve millions of customers through a range of products including lending, deposits, and financial tools, in addition to our collaboration with Apple on the Apple Card. We leverage innovative design, data analytics, engineering, and other core competencies to deliver impactful tools and products that emphasize value, transparency, and simplicity. As we advance our digital consumer banking platform and explore new products and partnerships, we seek skilled leaders and contributors to enhance our team.

KEY RESPONSIBILITIES:

The Credit Risk Strategy team is responsible for developing, implementing, and maintaining the underwriting and customer management strategies for the consumer lending sector at Goldman Sachs. We utilize a combination of 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. We seek individuals with robust problem-solving abilities, analytical skills, innovative thinking, and a desire to make a significant impact on credit strategy and risk management.

YOUR CONTRIBUTION:

If you have a passion for data analysis, deriving insights, and leveraging them to develop new strategies, we invite you to consider this opportunity within our Credit Risk Strategy team. You will have the chance to apply your expertise to shape the credit strategy for a digital consumer lending business.

HOW YOU WILL MAKE AN IMPACT:

  • Formulate, execute, and sustain credit underwriting strategies for digital lending products.
  • Conduct data analysis (including traditional and alternative bureau data, behavioral, and macroeconomic data) using statistical tools and analytical methods to generate insights and enhance credit decision-making (accept/decline, pricing, and credit limits).
  • Refine and optimize 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, including interactions with internal and external regulators.
  • Create 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, and 5+ years for associates.

REQUIRED EXPERIENCE:

  • Experience in building, enhancing, or analyzing risk management in digital consumer or small business lending, or similar data-driven sectors such as insurance.
  • Proficiency in U.S. credit bureau data, risk scorecards, and payment capability assessment.
  • 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 developing comprehensive risk management reports using SQL or similar database query languages for extracting data from extensive datasets.
  • Capability to manage multiple projects concurrently and drive project delivery from start to finish.
  • Experience in developing policy and procedural documentation for credit risk strategy execution.
  • Expertise in creating 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 prominent global investment banking, securities, and investment management firm headquartered in New York, with 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 member of our firm has ample opportunities for professional and personal growth through training, development, and wellness programs.

Goldman Sachs is an equal employment/affirmative action employer, committed to diversity and inclusion.

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