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Consumer and Wealth Management (CWM)

Across Consumer and Wealth Management (CWM), Goldman Sachs helps empower clients and customers around the world reach their financial goals. Our advisor-led wealth management businesses provide financial planning, investment management, banking and comprehensive advice to a wide range of clients, including ultra-high net worth and high net worth individuals, as well as family offices, foundations and endowments, and corporations and their employees. Our consumer business provides digital solutions for consumers to better spend, borrow, invest, and save. Across CWM, our growth is driven by a relentless focus on our people, our clients and leading-edge technology, data and design.

Consumer

The firms Consumer business, Marcus by Goldman Sachs, combines the entrepreneurial spirit of a startup with more than 150 years of experience. Today, we serve millions of customers across multiple products including lending, deposits, financial tools, and our partnership with Apple on Apple Card. We use innovative design, data, engineering and other core capabilities to provide customers with powerful tools and products that are grounded in value, transparency and simplicity. As we build a leading digital consumer bank and expand into new products and partnerships, we are looking for leaders and individual contributors to join our team.

Marcus Portfolio Health, Analytics & Forecasting team builds forecasting models, analyzes variances and tracks key portfolio health metrics related to risk and returns for the consumer lending business at Goldman Sachs.

We look for individuals with strong problem solving and analytical skills, innovative thinking and intellectual curiosity who want to make an immediate impact and help the business manage risk effectively.

Responsibilities:

* Design, build and implement best-in-class credit loss and financial forecasting models and conduct in depth cost of credit analysis which includes losses, allowances (CECL), CCAR submissions and risk capital.
* Understand nuances of different sub-portfolios within Marcus also including possible new partnerships and their impact to overall portfolio.
* Partner with Risk 2nd line to drive Firm Wide Business planning as well as CCAR process in the areas of losses and CECL.
* Collaborate with Finance, Marketing, Decision Science, Operations and Technology teams to understand customer lifecycle that covers targeting, underwriting, customer management and servicing of loans. Based on insights, monitor portfolio performance and identify areas of risks and opportunities.
* Build/modify risk appetite framework (RAF) and ensure that that the business is operating within the appropriate benchmarks. In this process, play a key role in understanding the impact of macroeconomic environment to business performance and determine the sensitivity to P&L based on macroeconomic stress as a part of long term strategic plan. Also study the competitive space, monitor key indicators compared to the industry and lead efforts to improve those within RAF.
* Identify multitude of data sources and build processing capability to retain highest degree of information value which will help in daily monitoring of Portfolio Health. Build capability to process hundreds of attributes to run executive management reporting using weekly, monthly, quarterly or annual dashboards. Additionally, present the findings in a clear and concise manner which will be used both, for internal Board of Directors (BOD) meetings as well as external regulatory reporting.
* Lead compliance and governance in the areas of Portfolio Health by fulfilling best-in-class requirements of model monitoring framework and documentation. Interact with group risk/corporate planning teams as well as model validation teams. Also help in communication with internal auditors and external regulators on a frequent basis

Requirements:

* 3-5 years of experience working for a financial services company in risk management, technology or other quantitative function
* Bachelors degree in Mathematics, Statistics, Economics, Engineering or a related field
* Experience building, improving, or analyzing risk management in a digital consumer or small business lending context especially in the areas of loss forecasting/modelling/CECL
* Experience managing several projects simultaneously and driving end-to-end project delivery
* Hands-on experience with SAS/SQL, C++, Java , Python or an equivalent programming language in order to write queries, pull data and perform analysis. Familiarity with Tableau.
* Exceptional written and oral communication skills with a proven ability to articulate complex ideas, express and defend a point of view, and influence outcomes

Preferred Qualifications:

* 4-7 years of experience in loss Forecasting, risk appetite framework (RAF), CCAR, CECL and Risk Capital
* Expert knowledge of U.S. credit bureau data and Risk Scorecards building infrastructure