Risk, Liquidity Risk, Associate, Frankfurt

October 21, 2024

Goldman Sachs

Frankfurt am Main

The Risk Division is a team of specialists charged with managing the firm’s credit, market, liquidity, operational and capital risk. Whether assessing the creditworthiness of the firm’s counterparties, monitoring market risks associated with trading activities, or offering analytical and regulatory compliance support, our work contributes directly to the firm’s success. The division is ideal for collaborative individuals who have strong ethics and attention to detail.

LIQUIDITY RISK
Liquidity Risk is the independent risk management function responsible for identifying, quantifying, and managing the liquidity risk of the firm. We work closely with Corporate Treasury, Controllers, Operations, Global Banking and Markets, Asset and Wealth Management Divisions, as well as the broader Risk organization to provide independent risk assessment and oversight of the firm s liquidity risk taking.
Key functions include:

Stress Testing: Methodology development, model creation and governance, assumption review and approval, and risk measurement
Regulatory Stress Metrics, Liaison, & Advocacy: Regulatory policy and rule interpretation, engagement with global regulators and policy advocacy, Calculation and disclosure of key regulatory stress metrics
Risk Limit Governance: Setting liquidity risk appetite, calibration of risk limits, sign-off on limits frameworks, and ongoing monitoring of limit utilization and remediation
Analytics: Measurement, analysis, and reporting of risk measures, development of platforms and tools for risk calculation and visualization, and governance of data quality and completeness controls
Governance & Reviews: Ongoing evaluation of compliance with key regulatory regimes, new activity impact assessments and approvals, engagement with key committees and governing bodies, and maintenance of key policies and procedures
Risk Oversight: Monitor, govern, and challenge various liquidity and funding execution activities, including cash & collateral management, funds transfer pricing, balance sheet usage, liquidity and funding projections, and liability management Active and ongoing engagement with risk taking businesses to understand, monitor, and govern liquidity risk
Direct engagement with Risk Leadership and global regulators regarding material risks, current risk exposures, and limits governance

THE ROLE & RESPONSIBILITIES

Develop in-depth understanding of the firm’s liquidity risk under different scenarios, identify and challenge qualitative assumptions
Work closely with engineering teams to model liquidity risks under various stress scenarios; propose, calibrate, and implement appropriate assumptions
Work closely with LR leadership to develop and implement comprehensive liquidity risk governance framework,
Monitor liquidity risks for the European entities, understand and explain the liquidity risks to various stakeholders
Liaise with the European regulators for matters related to liquidity risks, Engage periodically with regional regulators to explain the firm s risk posture, clarify rule interpretations, respond to analysis and data requests, and support advocacy discussions
Work on the key regulatory initiatives such as ILAAP, contingency funding plan and recovery planning
Monitor limit utilization, breach remediation, and escalation workflow Engage directly with the risk taking businesses to understand strategy, assess new activities, enforce limits, comply with regulatory requirements, and challenge proposals

EXPERIENCE & SKILLS REQUIRED

Strong academic background and quantitative skills
3-5 years of experience in capital markets, preferably in Risk, Treasury, funding-related or regulatory functions
Interest in financial markets and risk management, motivated by learning and continuous improvement
Strong understanding of the European rules and regulations related to Liquidity, prior experience of dealing with regulators would be desirable
Ability to work independently, form own judgment/opinions, provide insights and drive change
Proactive with strong analytical, interpersonal and communication skills and ability to build relationships remotely
Strong verbal and written communication skills, German language skills would be desirable

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. Learn more about our culture, benefits, and people at GS.com/careers.
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