Operational Risk, Associate - New York, NY 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 firmThis role requires an energetic self-starter that can liaise with stakeholders across business units and federation teams both regionally and globallyFamiliarity 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 roleThe 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 risk
- Using 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 challenge
- Facilitate 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 risks
- Review and evaluate new business initiatives to identify changes to the operational risk profile of the division and ensure proper controls are in place
- Facilitate challenge of first line RCSA and Control Assessment ratings to ensure appropriate measurement approach and rationale has been employed
- Conduct 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 skills
- The ability to present with impact and build consensus across senior stakeholder groups
- Ability to work in a fast paced environment with a focus on delivery
- Strong organizational skills (project management experience a plus)
- Proficiency in Excel, PowerPoint, and SharePoint - Tableau & SQL are a plus
- Familiarity with enterprise risk management best-practices and controls
- Quick 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 design
- Payments and/or payments risk management experience
- Risk 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 growFounded in 1869, we are a leading global investment banking, securities and investment management firmHeadquartered in New York, we maintain offices around the world We believe who you are makes you better at what you doWe'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 programsLearn 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 processLearn more: Salary Range The expected base salary for this New York, New York, United States-based position is $110000-$140000In addition, you may be eligible for a discretionary bonus if you are an active employee as of fiscal year-end 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 experienceA 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., 2023All rights reserved Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity