Internal Audit, Credit Risk, New York, Analyst

Goldman Sachs•New York, NY

4h•Onsite

About The Position

The Internal Audit team at Goldman Sachs ensures the firm maintains effective controls by assessing the reliability of financial reports, monitoring compliance with laws and regulations, and advising management on control solutions. This role offers unique insight into the financial industry, its products, and operations. We are seeking detail-oriented team players with an interest in financial markets who want to gain insight into the firm’s operations and control processes. Internal Auditors at Goldman Sachs demonstrate strong risk and control mindsets, analytical skills, professional skepticism, and the ability to effectively challenge and discuss risks and control measures with management. We look for individuals who enjoy learning about audit, businesses, and functions, possess innovative and creative mindsets to adopt analytical techniques to enhance audit methods, build relationships, and can evolve and thrive in teamwork within a fast-paced global environment. As the third line of defense, Internal Audit's mission is to independently assess the firm’s internal control structure, including governance processes, 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 risks, raises awareness of control gaps or deficiencies, 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 chartered accountants, developers, risk management professionals, 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 securities, investment banking, consumer and investment management, risk management, finance, cyber-security and technology risk, and engineering.

Requirements

Master’s degree in management, economics, finance, accounting, and mathematics.
Experience within the financial services industry is also a plus
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
Knowledge of capital adequacy related topics, including Basel Capital Accord regulatory requirements (advanced model-based and/or standardized frameworks)
Technical awareness and understanding of credit risk measurement, stress testing, limits setting and monitoring, risk reporting and risk governance
Effective audit mindset to be able to independently assess the firm’s internal control structure in the areas of credit risk measurement and management and its conformance with regulatory requirements
1-2 years of experience in credit risk management function, credit risk independent validation function, or internal audit role covering credit risk
Knowledge of financial modeling concepts, including (any combination): options pricing, credit default, structured products, econometrics, stress scenario creation

Nice To Haves

A qualification in financial risk management including FRM certification is an advantage

Responsibilities

Develop and maintain an in-depth technical knowledge of credit risk management and credit risk products – lending and counterparty credit risk
Review of processes and controls related to credit risk management and credit life cycle
Conduct meetings with stakeholders including first line and second line
Execute risk-focused audits of credit risk audit universe, including products, legal entity and credit risk thematic coverage
Engage in continuous monitoring of credit risk management topics for existing and new products
Communicate credit risk management problems and issues to senior management