Risk-Bengaluru-Vice President-Operational Risk

The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout the firm.

The Operational Risk Assessment Execution team within Operational Risk is responsible for developing and implementing a standardized framework to identify, measure, monitor, and assess operational risk across the firm. The RCSA Vice President will work with the global team to engage stakeholders across multiple locations to establish and maintain a firm-wide operational risk assessment program while establishing and helping manage the local team. This role is responsible for the Business as Usual (BAU) RCSA process inclusive of reporting and analytics. The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout the firm.

Responsibilities:

• Lead aspects of the risk assessment process, including: managing senior stakeholders globally, setting and providing guidance on assessment methodology, enforcing assessment standards and deadlines, resolving escalated issues.
• Continuously refine the RCSA methodology based on industry best practices, regulatory expectations (e.g., Basel guidelines, where applicable), and internal model validation findings. This includes defining clear criteria for inherent risk, control effectiveness, and residual risk ratings. The VP should lead efforts to ensure alignment with evolving risk landscapes.
• Analyze RCSA results and develop actionable insights from the RCSA outputs, including identifying emerging risk trends, root cause analysis of control weaknesses, and recommendations for risk mitigation strategies.
• Develop requirements for program-specific reporting; including scorecards/dashboards dashboards and reports that provide senior management with a clear and concise view of the operational risk profile.
• Escalate any concerns or delays in RCSA program implementation and deviations from planned schedule to relevant stakeholders.
• Provide risk assessment metrics and reporting to senior management and governance committees. The reporting will include: completion status of the assessments, trending and analysis of the output from the risk assessments, changes to the risk assessment profile at an entity or group level
• Proactively think about changes in the business, how these impact the existing risk assessment program and working with the Operational Risk Coverage and Specialist teams to facilitate the assessment changes
• Manage the team including recruiting, training, career development and feedback, staffing and coordinating with the global team
• Ensure training and functional support are provided across a range of departments on the risk assessment methodology and use of the risk assessment application
• Work with key stakeholders within ORMA and across the firm to design and implement process improvements to the risk assessment program to continue to evolve and progress the program
• Work with systems project managers and business analysts to design and implement enhancements to the risk assessment applications to ensure they reflect both current methodology and future needs, are fit for purpose and user friendly
• Work with the other Risk division teams to implement reporting infrastructure and design, enhance or modify reports on the assessment outputs
• Remain current on business, regulatory and industry changes that may impact the business and the associated assessments
• Project Managing and working with various stakeholders on the Implementation of key Assessment driven initiatives and uplifts

Qualifications:

• Minimum 8 to 10 years of experience in the financial services industry, with at least five years in an operational risk management, internal audit or compliance role and preferably large financial institution.
• Deep understanding of various RCSA methodologies (e.g., bottom-up, top-down, hybrid) and a proven ability to tailor the methodology to specific business needs.
• Strong project management and organizational skills with experience of working to deadlines within a highly dynamic environment
• Proven track record in stakeholder management including exposure to senior stakeholders
• Proven ability to work remotely across multiple geographies / time zones
• Strong attention to detail and excellent data analysis skills
• Advanced data analytics skills, including experience with statistical analysis, data visualization.
• Solid understanding of relevant regulatory requirements and industry best practices related to operational risk management and RCSA.
• Experience with specific RCSA software applications is beneficial.
• Enthusiastic, intellectually curious and seeks to understand the different areas of the firm
• Ability to work in a fast paced environment, with a strong delivery focus
• Strong verbal and written communication skills and able to present to senior stakeholders with impact and influence
• Possess a Bachelor's Degree

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. about our culture, benefits, and people at

We're committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. :

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.

We Offer Best-In-Class Benefits

Healthcare & Medical Insurance

We offer a wide range of health and welfare programs that vary depending on office location. These generally include medical, dental, short-term disability, long-term disability, life, accidental death, labor accident and business travel accident insurance.

Holiday & Vacation Policies

We offer competitive vacation policies based on employee level and office location. We promote time off from work to recharge by providing generous vacation entitlements and a minimum of three weeks expected vacation usage each year.

Financial Wellness & Retirement

We assist employees in saving and planning for retirement, offer financial support for higher education, and provide a number of benefits to help employees prepare for the unexpected. We offer live financial education and content on a variety of topics to address the spectrum of employees' priorities.

Health Services

We offer a medical advocacy service for employees and family members facing critical health situations, and counseling and referral services through the Employee Assistance Program (EAP). We provide Global Medical, Security and Travel Assistance and a Workplace Ergonomics Program. We also offer state-of-the-art on-site health centers in certain offices.

Fitness

To encourage employees to live a healthy and active lifestyle, some of our offices feature on-site fitness centers. For eligible employees we typically reimburse fees paid for a fitness club membership or activity (up to a pre-approved amount).

Child Care & Family Care

We offer on-site child care centers that provide full-time and emergency back-up care, as well as mother and baby rooms and homework rooms. In every office, we provide advice and counseling services, expectant parent resources and transitional programs for parents returning from parental leave. Adoption, surrogacy, egg donation and egg retrieval stipends are also available.

Benefits at Goldman Sachs

Read more about the full suite of class-leading benefits our firm has to offer.

Opportunity Overview
CORPORATE TITLE
Vice President
OFFICE LOCATION(S)
Bengaluru
JOB FUNCTION
Operational Risk
DIVISION
Risk Division