Model Risk Management, AI Risk, Dallas, Associate

DEPARTMENT OVERVIEW

The Model Risk Management (MRM) group is a multidisciplinary group of quantitative experts at Goldman Sachs with presence in New York Dallas London Birmingham Warsaw Hong Kong Bangalore and Hyderabad. TheMRM group is responsible for independent oversight of Model Risk at the firm ensuring compliance with Model Control Policy and related requirements including documentation to evidence effective challenge over the Model development implementation and usage of Models.

The groups primary mandate is to manage risk that arises from models used in the firm through its range of businesses from models used for derivatives valuation to models used for risk management liquidity and capital addition to independently reviewing these classes of models for their validity theoretical consistency and implementation accuracy the group is also responsible to assess the risk associated with model choice e.g. exposure to choice of model in various contexts such as pricing exotic options or in calculating capital. As AI adoption increases across the firm the MRM group plays a critical role in ensuring that innovative AI capabilities are deployed safely.

JOB RESPONSIBILITIES

• Play a central role in shaping firmwide AI risk management oversight and governance through:
  • Management of the AI oversight committee including agenda-setting materials and executive-level decision support
  • Managing the AI risk assessment and approval activities across control functions working closely with the business and engineers to guide them through the approval process
  • Owning the firmwide view of AI usage enabling senior leadership to understand risk posture trends and emerging concentrations including through management of the firmwide AI inventory and tracking and reporting on committee activities approvals and follow-ups
• Design maintain and evolve the firmwide AI governance framework liaising with other business units such as Legal Compliance and Engineering to translate regulatory expectations and emerging industry standards into practical scalable controls
• Liaise with technology teams to design scalable infrastructure for AI inventory management and AI risk assessment and approval workflows
• Manage and coordinate engagement with regulators helping shape external understanding of the firms risk management approach

QUALIFICATIONS

• 3 plus years of experience preferably in Financial Services and with working knowledge of AI
• Excellent project management and communication skills with ability to work and communicate effectively with a wide variety of technical and non-technical stakeholders across various seniority levels
• Excellent analytical quantitative interpersonal and organizational skills. Team oriented and able to pick up technical concepts quickly
• Comfort operating in areas of evolving regulation and limited precedent with the ability to exercise sound judgment
• Programming skills preferred(e.g. Python)

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. Were 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 committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: The Goldman Sachs Group Inc. 2023. All rights reserved.

Goldman Sachs is an equal opportunity employer and does not discriminate on the basis of race color religion sex national origin age veterans status disability or any other characteristic protected by applicable law.