Global Banking & Markets Operations - Operational Risk

GLOBAL BANKING & MARKETS
We make markets in and clear client transactions on major stock, options and futures exchanges worldwide. Through our global sales force, we maintain relationships with our clients, receiving orders and distributing investment research, trading ideas, market information and analysis.

OPERATIONS RISK AND RESILIENCE

Global Banking & Markets Operational Risk and Resilience (GBMORR) is responsible for first-line oversight of Operational Risk that arise within the end-to-end activities of the Division Business Supervision, Conduct, Control Remediation, Third Party/Vendor, and Business Continuity and Resiliency. The group works closely with revenue and control functions (including Sales, Trading, Engineering and Operations), risk coverage for other areas (credit, counterparty, liquidity, and market risk) and second and third line of defense (including internal audit and compliance). 

Within the GBMORR organization, the Global Banking and Markets Strategy and Analytics group’s mission is to optimize the firm’s operational risk frameworks, deliver key analytics, continuously increase usage of interconnected data to enable decisions, and to develop new innovations in the field of Operational Risk.  As a member of the Strategy and Analytics team you will develop an in-depth knowledge of the operational risk profile across Global Banking and Markets.  You will participate in the ongoing uplift and innovation of operational risk processes designed to facilitate the business’s understanding and management of their risk.  You will work closely with stakeholders across Global Banking and Markets to ensure our risk and control framework is effective and fit for purpose. You will leverage data and tools to transform the way we risk manage our business. 

YOUR IMPACT

Do you have a deep subject matter expertise and a passion for risk & control management? We’re looking for a professionals to join our First line Risk Management team within the Global Banking and Markets  (GBM) Division. 

The Quality Assurance & Monitoring team is a new function within the Strategy and Analytics group that focuses on enhancing monitoring of the process, system & controls efficacy and evaluates the performance & compliance of a process or control through robust testing methods. As a Vice President, you will be a part of this start-up journey involved in independently assessing the division’s overall control environment through a strong Monitoring & Testing framework.  In doing so, you are supporting the provision of independent, objective and timely assurance around the firm’s internal control structure.

OUR IMPACT

Our core value is building strong relationships with our institutional clients, which include corporations, financial service providers, and fund managers. We help them buy and sell financial products on exchanges around the world, raise funding, and manage risk. This is a dynamic, entrepreneurial team that includes individuals who have a passion for the markets and who thrive in fast-paced, changing environments and are energized by a bustling trading floor. 

JOB SUMMARY AND RESPONSBILITIES

Risk & Control Hat

• Develop an in-depth knowledge of the operational risk and control profile across Global Banking & Markets (GBM)
• Advise, challenges, informs the businesses on recommended ways to mitigate risk; reviews actions items to ensure that risk is being sufficiently addressed
• Sets the tone from the top: Acts as a culture carrier by embedding & propagating a risk mind-set and awareness within the team, region & globally
• Identifies ways to share risk best practice across teams and functions, and with other business lines where like processes exist/there is exposure to similar risk
• Partner with the business lines to understand the residual risks that exist after issues are resolved and engage across the front to back to apply lessons learned to improve our risk and control framework
• Risk Analysis – work with the stakeholders to develop KRI’s / KPI’s which can be used to monitor operational health of our framework. Use these to drive the risk agenda with the leadership group, highlight areas of concerns and partner with line managers to develop, execute and monitor progress on remediation plans.
   

QA / Technical Hat

• Develop Control QA & Monitoring framework. Identify continuous improvement mechanisms to strengthen the framework based on ever-evolving changes in process, regulations & platforms
• Work with our QA team to design tests for data quality, lineage and controls across a range of products, business lines and processes, including both manually and systematically created data. Develop methodologies to define test scripts, execute tests, including frequency, sampling, evidencing, and follow-up actions which integrate with the broader Divisional risk management framework and datasets
• Partner with developers and low-code specialists to develop tooling to support test execution, recordkeeping and reporting
• Work with our BI team in building data models / data visualization for generating multi-dimensional reporting
• Maintain strong relationships and connectivity with the broader control and data organisations to enable maintenance of the test suites as the operating and control environment changes
• Execute test suites using manual and automated techniques, and integrate results into the broader risk management framework, including control enhancements and risk assessments
• Participate in the ongoing uplift and innovation of operational risk processes designed which facilitate GBM Operational Risk & Resilience (ORR) supervisors and leadership’s understanding and management of their risk and controls.  
• Coordinate end-to-end risk management delivery with other Divisions, such Compliance, Legal, Risk and Internal Audit as well as support regulatory interactions
  
   

BASIC QUALIFICATIONS

• Solid understanding of the global markets franchise offered by the firm and experience within a risk management context are required. 
• An energetic self-starter with strong control mindset with a passion for risk management
• Excellent communication skills to clearly articulate issues and ideas with different levels across Global Banking and Markets stakeholders.
• Strong analytical skills with an ability to understand complex workflows, and excellent attention to details.
• Innovative, including a keen eye for identifying areas of control enhancements and automation which have practical value.  Good influencing skills to challenging the status quo and continuously enhance the control environment. There is also opportunity within the role to learn and apply advanced analytics software to develop low code risk management solutions.
• Ability to perform data analytics using metrics to identify trends and themes.
• Sound time management skills to be able to effectively prioritize and multi-task. 
• A mentor / coach to the juniors in the team
• Drive and motivation to improve personal performance, broaden knowledge, work intensely towards extremely challenging goals and persist in the face of obstacles or setbacks
• Good interpersonal and teamwork skills to collaborate as a global team and build strong relationship with key stakeholders across Divisions. 
• Keeps current with emerging business, economic and market trends 
• Aptitude handling large data sets, synthesizing a variety of information to summarise a profile. 
• Track record of delivering and enhancing measurable, impactful business outcomes and products
• Understanding of risks and controls and their relationship to each other. Knowledge of how these operate in a financial markets sales and trading context is helpful 
  
   

PREFFERED QUALIFICATIONS

• Practical experience in Sales and Trading, Risk or Operations functions.
• Data analytics, data visualisation, automation or low-code experience is helpful, e.g. SQL, Alteryx, Tableau or similar
• Experience in process redesign and executing strategic concepts from unstructured inception to detailed implementation is helpful
• Experience in audit / testing methodologies, Control testing (manual & automated)
• Basic understanding of applications of UI testing tools such as Selenium, LambdaTest etc..

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

© The Goldman Sachs Group, Inc., 2024. All rights reserved.

Goldman Sachs is an equal employment/affirmative action employer

<div>None</div>