• Internal Audit- Corporate Model Risk - Associate - Bengaluru

    Location(s) IN-Bengaluru
    Job ID
    2018-46925
    Schedule Type
    Full Time
    Level
    Associate
    Function(s)
    General
    Region
    India
    Division
    Legal and Internal Audit
    Business Unit
    Internal Audit - Corporate
    Employment Type
    Employee
  • MORE ABOUT THIS JOB

    ABOUT GOLDMAN SACHS

     

    The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

     

    INTERNAL AUDIT 

     

    In Internal Audit, we ensure that Goldman Sachs maintains effective controls by assessing the reliability of financial reports, monitoring the firm’s compliance with laws and regulations, and advising management on developing smart control solutions. Our group has unique insight on the financial industry and its products and operations. We’re looking for detail-oriented team players who have an interest in financial markets and want to gain insight into the firm’s operations and control processes.

    RESPONSIBILITIES AND QUALIFICATIONS

    JOB SUMMARY & RESPONSIBILITIES

    The Model Risk team within Internal Audit (IA) at Goldman Sachs with presence in New York, London and Bengaluru is a group of quantitative experts charged with reviewing complex financial models utilized by the Firm as part of various audits with the objective to assess the robustness of the firm’s model risk management framework. The Model Risk team is responsible for a diverse array of model types including models used for valuation of financial products, models used for risk management, capital calculation, compliance, algorithmic trading and investment management models.

     

    The Goldman Sachs Group, Inc. is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.

     

    IA supports the Audit Committee of the Board of Directors and senior firm leadership in fulfilling their oversight roles by independently assessing the firm’s internal control structure, raising awareness of control risk, and monitoring the implementation of management’s control measures.

     

    JOB RESPONSIBILITIES

    Develop and maintain an in-depth technical knowledge of modeling – both theory and coding

    Critical review of models including their conceptual soundness, documentation, testing code implementation accuracy and independent validation

    Conduct meetings with stakeholders including modelers and model validators

    Execute risk-focused audits of modeling and model risk management 

    Engage in continuous monitoring of modeling and model risk areas

    Communicating modeling problems and issues to senior management

     

    BASIC QUALIFICATIONS

    Team-oriented with a strong sense of ownership and accountability

    Strong interpersonal and relationship management skills

    Strong verbal and written communication skills and presentation skills (PowerPoint, Visio, etc.)

    Highly motivated with the ability to multi-task and remain organized in a fast-paced environment

    Advanced Degree (preferably PhD or Masters) in a quantitative discipline (Math, Statistics, Physics, Engineering, Computer science)

     

    PREFERRED QUALIFICATIONS

    Experience within the financial services industry is a plus

    Product Specific Skills and Experience

    Knowledge of financial modeling concepts, including (any combination)

    Options pricing, credit default, structured products, econometrics, stress scenario creation

    Any combination of risk management disciplines: credit risk, market risk, operational risk, funding / liquidity risk Knowledge in any of the following areas is preferred

    Risk measurement theory (Value-at-Risk, stress testing etc).

    Basel Capital Accord regulatory requirements (advanced model-based frameworks)

    Controls surrounding model risk governance, model development, implementation and change management, model validation (Regulatory Guidance SR 11-7)

    Programming experience in quantitative and object oriented programming environments, e.g. Matlab, C++, C#, Python, Java, R, etc.

    ABOUT GOLDMAN SACHS

    The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

    © The Goldman Sachs Group, Inc., 2018. All rights reserved Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Vet.