JOB SUMMARY AND RESPONSIBILITIES
DIVISIONAL OVERVIEW/WHAT WE DO
The Credit Risk Management Department (“CRM”) is a central part of Goldman Sachs' risk management framework, is independent of the revenue-producing divisions and reports to the firm’s chief risk officer. CRM has primary responsibility for assessing, monitoring and managing credit risk at the Firm. The department also plays a key role in implementing and managing the firm’s credit risk related regulatory requirements. CRM is staffed globally with offices including New York, London, Frankfurt, Warsaw, Salt Lake City, Singapore, Hong Kong and Tokyo. Within CRM, the Regulatory & Analytics team is responsible for credit risk related regulatory requirements, including advanced Basel 3 capital methodologies, ICAAP, the assessment of new regulation and the development and implementation of associated processes, analytics and reports.
CRM has strong traditions of risk management, client service excellence and career development opportunities for our people.
As an Associate or Vice President in CRM - Regulatory & Analytics based in Frankfurt, you will play a key role in the credit risk management function and overall capital adequacy process at Goldman Sachs and be responsible for leading projects and participating in activities primarily related to these important regulatory initiatives.
Primary responsibilities include:
- Protect and manage the firm's capital by developing or enhancing internal risk-based methodologies under Basel 3 advanced capital frameworks.
- Performing parameter quantification (exposure at default / probability of default / loss given default) of Wholesale credit risk portfolios for use in risk based capital requirements
- Monitoring, analysing and explaining changes in the firm’s credit risk exposures and capital requirements across products, sectors and regions
- Interacting with Regulatory Controllers and other stakeholders to ensure the appropriateness of processes and accuracy of credit risk capital calculations and input risk parameters
- Stress testing of various sources of credit risk, including Credit Valuation Adjustment (CVA)
- Assessing Basel III capital requirements for prospective transactions
- Providing input into regulatory rule interpretation and policy related decision making
- Providing oversight or project managing the implementation of various process and technology initiatives related to Basel III
- Interacting with Regulators as part of the ongoing supervision process
- Profound experience in credit risk management
- Strong familiarity with investment banking products including loan products and derivatives
- Significant experience in Basel 3 regulation, including methodologies for AIRB, IMM, Advanced CVA VaR and the application of such guidance within a large financial institution.
- Demonstrable track record of independent assessment of regulatory interpretation, decision making and the ability to steer business negotiations
- Strong organizational, documentation and presentation skills, and the ability to manage multiple assignments concurrently
- Ability to face off with people across many different areas of the firm and various levels of seniority
- Ability to comfortably and effectively interact with quantitative model developers, internal risk experts, and various stakeholders outside of CRM
- Functional Expertise - Keeps up-to-date with emerging regulation, as well as business, economic, and market trends that may have implications for credit risk capital
- Technical Skills - Demonstrates strong technical skills required for the role, pays attention to details, takes initiative to broaden his/her knowledge and demonstrates appropriate financial/analytical skills
- Drive and Motivation - Successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards challenging goals and persists in face of obstacles or setbacks
- Client and Business Focus - Effectively handles challenging requests, builds trusting and long-term relationships with internal and external stakeholders, helps to identify/define needs and manages expectations
- Teamwork - Gives evidence of being a strong team player, collaborates with others within and across teams, encourages team members to participate and contribute, and acknowledges others' contributions
- Communication Skills - Communicates what is relevant and important in a clear and concise manner, shares information/new ideas with others, and demonstrates judgment to escalate as appropriate
- Judgment and Problem Solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives. Sees the big picture and effectively analyses complex issues
- Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
- Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions. Takes a position on issues and influences others' opinions by presenting persuasive recommendations