Model Risk Management, AI Risk, NY, Vice President

Model Risk Management AI Oversight Lead

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. The MRM 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 group's 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 computations. In 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 firm's risk management approach

Qualifications

• 5 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)

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© 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.

Salary Range The expected base salary for this New York, New York, United States-based position is $130000-$250000. In addition, you may be eligible for a discretionary bonus if you are an active employee as of fiscal year-end.

Benefits Goldman Sachs is committed to providing our people with valuable and competitive benefits and wellness offerings, as it is a core part of providing a strong overall employee experience. A summary of these offerings, which are generally available to active, non-temporary, full-time and part-time US employees who work at least 20 hours per week, can be found here.

Job Info

• Job Identification 137676
• Job Category Vice President
• Locations New York, NY, United States