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 firm. This role requires an energetic self-starter that can liaise with stakeholders across business units and federation teams both regionally and globally. Familiarity 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 role. The 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
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Salary Range The expected base salary for this New York, New York, United States-based position is $110000-$140000. 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 .
