Associate

Job Description

Job Duties: Associate with Goldman Sachs & Co. LLC in New York, New York. Perform model audit work which includes in depth review of model controls such as model development, model validation, model usage, model inventory and model code change control. Confirm model documentation is consistent with documentation templates, interview modelers and model validators, and review model code. Perform ongoing monitoring of model activity and changes to the business environment related to model controls. Interpret regulatory expectations for model controls and model risk management. Perform review of business areas to determine the appropriateness of their representation of usage of financial, mathematical, and statistical models. Conduct detailed review of documentation, implementation, and validation of financial, mathematical, and statistical models. Perform critical reviews of models, including their conceptual soundness, documentation, code implementation accuracy, and independent validation. Execute risk-focused audits of modeling and model risk management, including reviewing risk assessments and description of tools and models in the Firm’s model inventory. Maintain proficiency in coding syntax and structure in various platforms to inspect financial, mathematical, or statistical model implementation in computer software. Document audit conclusions, description of work and testing, and findings which require management remediation of modeling and model risk governance. Engage in investigations of root causes and appropriateness of remediation for operational loss events related to errors in financial, mathematical, or statistical models. Engage in continuous monitoring of modeling and model risk areas and review the sufficiency of management remediation of deficiencies identified related to financial, mathematical, and statistical models.

Job Requirements: Master’s degree (U.S. or foreign equivalent) in Economics, Operations Research, Mathematics, Statistics, Econometrics, Physics, Financial Engineering, or a related field. Three (3) years of experience in the job offered or in a related role. Three (3) years of prior experience must include: reading and interpreting diverse modeling approaches which involve advanced mathematical concepts such as stochastic calculus, linear algebra, statistical analysis, and partial differential equations; analyzing and applying advanced theories used in modeling applications; sourcing, writing, and executing code in multiple programming languages; working in technical written form in a manner which is easily understandable, clear, and accurate; and working with financial modeling concepts including stress scenario creation, econometrics, option pricing, structured products, risk management concepts including Value-at-Risk and regulatory requirements governing model usage.

Salary Range: The expected annual base salary for this New York, New York, United States-based position is $147,000 – $168,000. In 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 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.