Goldman Sachs

Internal Audit :

What We Do

As the third line of defense, Internal Audit’s mission is to independently assess the firm’s internal control structure, including the firm’s governance processes and controls, and risk management and capital and anti-financial crime frameworks, raise awareness of control risk and monitor the implementation of management’s control measures. In doing so, internal Audit:

• Communicates and reports on the effectiveness of the firm’s governance, risk management and controls that mitigate current and evolving risk
• Raise awareness of control risk
• Assesses the firm’s control culture and conduct risks; and
• Monitors management’s implementation of control measures

Goldman Sachs Internal Audit comprises individuals from diverse backgrounds including financial risk managers, chartered accountants, business managers, developers, cybersecurity professionals, and data scientists. We are organized into global teams comprising business and technology auditors to cover all the firm’s businesses and functions, including global markets, investment banking, consumer and investment management, risk management, finance, cyber-security and technology risk, model risk and engineering.

Internal Audit Model risk :

The objective of Internal Audit Model Risk team is to assess the robustness of the firm’s model risk management framework, including the governance processes and associated controls related to model development and model validation activities. The team, which is a group of quantitative experts, is also charged with reviewing complex financial models utilized by the Firm as part of various audits with the objective to assess the robustness of the firm’s model risk management framework. The diverse array of model types which the team reviews include models used for valuation of financial products, risk management, capital calculation, compliance, algorithmic trading, investment management and machine-learning models.

Job Description:

As a member of Internal Audit Model Risk team, the individual will be responsible for execution of audits related to model risk management through effective time management, in accordance with the internal audit methodology of the department. The team member will assist the project manager in executing the scope of the audit through walkthroughs and discussions with various modeling and model validation teams and discuss results of the audit with the firm’s local and global management. Specifically,

• Develop and maintain an in-depth technical knowledge of modeling – both theory and coding
• Critically review models including their conceptual soundness, documentation, code implementation accuracy and independent validation
• Conduct meetings with stakeholders including modelers and model validators
• Execute risk-focused audits of modeling and model risk management
• Engage in continuous monitoring of modeling and model risk areas

Communicating modeling problems and issues to senior management

Basic Qualification :

Advanced Degree (preferably Masters) in a quantitative discipline (Math, Statistics, Economics, Physics, Engineering, Computer science)

• 2-5 years’ experience in model development, independent model validation or model risk audit
• Model risk management knowledge, including model risk governance, model development, implementation, testing and change management, model validation
• Team-oriented with a strong sense of ownership and accountability
• Strong leadership, interpersonal and relationship management skills
• Strong verbal and written communication skills and presentation skills (PowerPoint, Visio, etc.)
• Highly motivated with the ability to multi-task and remain organized in a fast-paced environment

Preferred Qualifications:

Experience within the financial services industry is a plus.

• Knowledge of financial modeling concepts, including (any combination):

▪ Options pricing, credit default, structured products, econometrics, stress scenario creation

▪ Any combination of risk management disciplines: credit risk, market risk, operational risk, funding / liquidity risk

• Programming experience in quantitative and object

Your Career :

Goldman Sachs is a meritocracy where you will be given all the tools to help you develop. At Goldman Sachs, you will have access to excellent training programs designed to improve multiple facets of your skills portfolio. Our in-house training program, ‘Goldman Sachs University’ offers a comprehensive series of courses that you will have access to as your career progresses. Goldman Sachs University has an impressive catalogue of courses which span technical, business and leadership skills training.

About GS :

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.