Overview

The Model Risk Management Department (“MRM”) is a central part of the Goldman Sachs risk management framework. MRM is independent of the revenue-producing divisions and reports to the firm’s chief risk officer.

The MRM department is made up of the following groups:

  • Model Risk Management – Responsible for assessing and quantifying model risk — the risk associated with the choice of models that are used to price exotic derivative transactions. As financial derivatives become more complex, so do the models used to value and risk manage them. Our group focuses on developing alternative models to quantify the sensitivity to choice of different models.
  • Credit Risk Review Group (CRRG) : Responsible for independently challenging and validating the ratings and designations assigned by the Credit Risk Management and Advisory Department used for risk management and capital determinations. CRRG also assesses CRMA’s compliance with its processes and procedures.
  • Operational Risk Validation Group (ORVG) – Responsible for assessing the conceptual soundness, governance, and methodology of the firm’s operational risk losses projections as part of the Comprehensive Capital Analysis and Review (CCAR) submission. ORVG also independently and objectively evaluates both the design and the effectiveness of the firm’s Operational Risk Management Framework

Basic Qualifications:

Experience:

  •  Bachelor Degree Required
  • 2-5 years of experience in either Audit, Technology, Risk Management, Regulatory Control/Reporting

Competencies:

  •  A combination of analytical, organizational and interpersonal skills
  • Detail oriented
  • Strong verbal and written communication skills
  • Team player – ability to maintain mutual support within a high profile team
  • Ability to operate in a fast-paced environment with high sense of urgency/multi-tasking skills
  • Strong computing and Excel skills

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