Operational Risk, Associate  

The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout the firm.

Operational Risk is an independent risk management function (2nd line), responsible for developing and implementing a standardized framework to identify, measure, and monitor operational risk across the firm.   This role requires an energetic self-starter that can liaise with stakeholders across business units and federation teams both regionally and globally. Familiarity with the concepts of operational risk, the firm’s process flows and control environment combined with strong interpersonal and analytical skills and a penchant for problem solving are necessary for this role. The team is dedicated to actively enhancing the risk framework, employing and strengthening risk management, with a focus on Transaction Banking.

Primary Responsibilities:

Perform quality assurance review and testing of first line’s payments processes including but not limited to adherence with payments policies, industry standards and payments regulations Work with first line process owners to develop day to day risk management metrics which quantify the divisions exposure to various types of operational riskUsing risk management metrics and emerging events, identify key process controls for risk deep dives to challenge/verify first line controls for quality assurance Execute operational risk framework from the second line of defense while working closely with the first line via providing robust and independent challengeFacilitate operational risk event management framework and data collection, including the detailed reviews of significant events to ensure appropriate remediation plans are implemented, and identification of trends to identify significant or emerging risksReview and evaluate new business initiatives to identify changes to the operational risk profile of the division and ensure proper controls are in placeFacilitate challenge of first line RCSA and Control Assessment ratings to ensure appropriate measurement approach and rationale has been employedConduct scenario analysis by working with stakeholders to develop and quantify scenarios measuring tail risks used for stress testing and capital calculations.Contribute to the advancement of operational risk methods and practices and the operational risk management framework

Basic Qualifications:

Bachelor’s degree and 4+ years of relevant experience working in operational risk, relevant revenue generating division, or a control function (e.g., Credit Risk, Compliance, Operational Risk, Finance/Controllers or Audit)Strong verbal and written communication skillsThe ability to present with impact and build consensus across senior stakeholder groupsAbility to work in a fast paced environment with a focus on deliveryStrong organizational skills (project management experience a plus)Proficiency in Excel, PowerPoint, and SharePoint – Tableau & SQL are a plusFamiliarity with enterprise risk management best-practices and controlsQuick learner who can thrive working as part as a cross-regional team and individually

Preferred Qualifications:

Quality assurance review and/or testing experience: ACH, Fedwire, SWIFT, etc.  Experience developing and deploying an operational risk framework Risk assessment experience for change management and process designPayments and/or payments risk management experienceRisk management experience 
 

ABOUT GOLDMAN SACHS

At Goldman Sachs, we commit our people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Founded in 1869, we are a leading global investment banking, securities and investment management firm. Headquartered in New York, we maintain offices around the world.

We believe who you are makes you better at what you do. We're committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally, from our training and development opportunities and firmwide networks to benefits, wellness and personal finance offerings and mindfulness programs. Learn more about our culture, benefits, and people at GS.com/careers. 

We’re committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: https://www.goldmansachs.com/careers/footer/disability-statement.html

Benefits
Goldman Sachs is committed to providing our people with valuable and competitive benefits and wellness offerings, as it is a core part of providing a strong overall employee experience. A summary of these offerings, which are generally available to active, non-temporary, full-time and part-time US employees who work at least 20 hours per week, can be found here.

© The Goldman Sachs Group, Inc., 2023. All rights reserved.

Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity