• Risk Engineering | Retail Loss Forecasting - Vice President

    Location(s) US-TX-Dallas
    Job ID
    2020-59628
    Schedule Type
    Full Time
    Level
    Vice President/Executive Director
    Function(s)
    Engineering, Technology
    Region
    Americas
    Division
    Engineering
    Business Unit
    Risk Engineering
    Employment Type
    Employee
  • MORE ABOUT THIS JOB

    ENGINEERING

     

    What We Do

    At Goldman Sachs, our Engineers don’t just make things – we make things possible.  Change the world by connecting people and capital with ideas.  Solve the most challenging and pressing engineering problems for our clients.  Join our engineering teams that build massively scalable software and systems, architect low latency infrastructure solutions, proactively guard against cyber threats, and leverage machine learning alongside financial engineering to continuously turn data into action.  Create new businesses, transform finance, and explore a world of opportunity at the speed of markets.

     

    Engineering, which is comprised of our Technology Division and global strategists groups, is at the critical center of our business, and our dynamic environment requires innovative strategic thinking and immediate, real solutions.  Want to push the limit of digital possibilities?  Start here.

     

    Who We Look For

    Goldman Sachs Engineers are innovators and problem-solvers, building solutions in risk management, big data, mobile and more. We look for creative collaborators who evolve, adapt to change and thrive in a fast-paced global environment.

     

     

    RESPONSIBILITIES AND QUALIFICATIONS

    Job Summary

     

    We are seeking a VP level candidate to join the Risk Engineering team focusing on Loss Forecasting process for unsecured consumer lending assets.  This position will be responsible for delivering analytical support for Loss Forecasting activities, typical responsibilities and duties include the following:

    • Partner with business units and broader Credit department to assess data availability, data sufficiency, and appropriate modelling approaches. (all encompassing)
    • Specifically, responsible for managing Model risk of Loss Forecasting models for the unsecured consumer lending products. In this role, the successful candidate will interact with model developers, model risk governance group, business risk teams, internal audit, and regulatory agencies when required.
    • Leverages business/ product expertise to evaluate/ effectively challenge the credit loss assumptions for benign and stress case scenarios, utilized in the credit policy development process at account acquisitions and account management.
    • Gathers and analyzes portfolio and macro-economic data to determine potential impact on business performance, and integrate the trends to the portfolio loss forecasts.
    • Conduct independent validation and monitoring of portfolio and vintage level loan performance compared to projections. Establishes baselines for strategies and tracks actual performance to expectations.
    • Applies predictive models, third party data and other tools to develop and execute appropriate segmentation and targeting for acquisition and portfolio strategies to provide insight/loss estimates into portfolio risk.
    • Collaborates with the line of business, Finance and Risk partners to assess and enhance operations processes related to Loss Forecasting activities for CCAR/DFAST and CECL.
    • Establish requirements for data maintenance and management and working with Technology on implementation. Create Management Loss Forecast reporting using Tableau or other cutting-edge visual interface-based tools to monitor portfolio performance at portfolio segment (e.g., product, vintage, risk segment, score band, or marketing channel), vintage and account levels to identify positive and negative trends such as improved portfolio quality or heightened delinquencies and recommend strategy changes to the Business.
    • Adhere strictly to compliance and operational risk controls in accordance with company and regulatory standards, policies and practices; report control weaknesses, compliance breaches and operational loss events. Address internal audit requirements and findings in a timely and appropriate manner (all encompassing)

    Basic Qualifications

    • 5 years of financial modeling, loss forecasting and business analytics related experience
    • 7+ years of experience working in risk management, data science, predictive modeling, loss forecasting or other similar quantitative functions across Consulting, Financial Services including Banks, FinTech, managing a consumer lending business
    • Strong Quantitative/ analytical skill with Master’s degree (U.S. or equivalent) in a quantitative discipline such as Mathematics, Statistics, Engineering, Data Science/Analytics or a related field like Information Systems, Business Analytics.
    • Experience in Loss Forecast process for unsecured consumer lending (e.g., installment loans, credit cards) preferred
    • Experience in retail credit risk analytics of retail strategy with  credit policy/underwriting criteria development, performing portfolio deep dive analytics including performance measurement and insight generation to influence credit policy (preferred)
    • Experience with statistical techniques including segmentation, decision trees and other advanced risk predictive modeling methods
    • Experience working cross functionally in a matrixed environment.
    • Strong Excel skills and experience using statistical tools such as SAS, SQL, R, Python (or similar) and big data platforms like Hadoop, Spark (or similar)
    • Strong interpersonal and presentation skills with the ability delivering key insights to management and non-technical personnel
    • Strong writing, presentation and communication skills with ability to deliver executive communication; technical writing and model documentation experience desired
    • Strong project management / organizational skills and the ability to manage multiple assignments concurrently

     

    ABOUT GOLDMAN SACHS

    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., 2020. All rights reserved.
    Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity

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