Risk, Credit Risk, Credit Governance, Vice President, London

Description

RISK

Our Risk teams develop comprehensive processes to monitor assess and manage the risk of expected and unexpected events that may have an adverse impact on the firm. Risk professionals execute critical day-to-day risk management activities lead projects and contribute to the ongoing advancement of a robust risk management program. Effective coordination with executive management business units control departments and technology is critical for success.

CREDIT RISK

Credit Risk is responsible for managing the firms credit exposure to its trading and lending counterparties. Leveraging its extensive expertise in financial credit and risk analysis CR ensures that credit exposure to our counterparts is managed within the firms risk appetite. Credit professionals work closely with many areas of the firm. Given this structure CR professionals gain diverse financial experience and a broad perspective on how the entire firm functions. The interaction with numerous departments and the range of projects that ensue allow for a challenging varied and multi-dimensional work environment.

This business is ideal for collaborative individuals who have strong ethics and attention to detail. Whether assessing the creditworthiness of the firms counterparties monitoring market risks associated with trading activities or offering analytical and regulatory compliance support our work contributes directly to the firms success.

THE ROLE & RESPONSIBILITIES

Credit Risk Governance Team Overview

The Credit Risk Governance team establishes and oversees the governance framework for Wholesale Credit Risk (WCR) helping ensure that key processes controls and regulatory obligations are managed effectively across the firm.

The team plays a central role in the firms Internal Credit Ratings (ICR) framework helping ensure rating processes are consistent transparent repeatable and aligned with internal policies and applicable global and regional regulatory expectations including PRA Rulebook for Credit Risk Internal Ratings Based Approach (CRR) Part. The team in its Credit Risk Control Unit capacity under IRB framework also partners with industry subject matter experts to support the development and enhancement of rating models and methodologies used for underwriting and ongoing portfolio monitoring.

This role offers the opportunity to work at the intersection of credit risk governance and regulation with particular focus on advanced European banking requirements including the Capital Requirements Regulation (CRR) PRA rulebook and Internal Ratings Based (IRB) approach for non-retail credit exposures. The successful candidate will help interpret regulatory expectations strengthen governance practices and support implementation of IRB-compliant rating system requirements including Rating System change notification management and IRB rules compliance assessment.

Key Responsibilities

• Assess new and evolving regulatory requirements applicable to Credit Risk management and Internal Risk Ratings; help translate them into practical governance and control expectations.
• Drive enhancements to industry-specific rating models and methodologies partnering with subject matter experts quantitative model developers and regulatory affairs teams to support alignment with IRB requirements and market best practice.
• Contribute the end-to-end process of preparing documenting and submitting formal regulatory notifications to the PRA and other competent authorities for material and non-material changes to Rating Systems.
• Conduct rigorous compliance assessments of proposed changes to rating models credit risk processes and data infrastructures to ensure strict adherence to PRA IRB rules and CRR requirements
• Partner closely with Model Development Independent Validation and Internal Audit teams to review rating system performance address deficiencies and ensure a cohesive approach to model risk governance.
• Develop clear templates standards guidelines and key performance indicators to monitor the rating framework and support reporting to senior management and governance committees.
• Lead or contribute to EMEA-specific and global regulatory engagements relating to Credit Risk governance and rating systems.
• Provide strategic input into WCR policies standards and procedures helping ensure they are accurate consistent and fit for purpose.
• Identify and communicate key risks coordinate remediation plans with stakeholders and track issues through to closure.
  

EXPERIENCE & SKILLS REQUIRED

• Minimum of 10 years experience at the PRA a European regulator or a bank with IRB approach permission preferably in a second-line risk function.
• Strong background in risk governance credit risk management and regulatory change with experience leading or supporting IRB implementation or enhancement initiatives for non-retail credit exposures.
• Strong understanding of financial services governance audit expectations and the regulatory landscape with the ability to analyse technical regulatory materials and draw practical conclusions.
• Excellent written and verbal communication skills including the ability to present complex issues and recommendations clearly to senior stakeholders.
• Highly organised and self-directed with the ability to manage multiple priorities in a fast-moving environment.
• Collaborative detail-oriented and motivated to contribute to a high-performing governance function.

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 Were 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.

Required Experience:

Exec

Employment Type : Full Time
Experience: years
Vacancy: 1