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