Operations-London-Associate-Risk Governance London, England
Job description
OPERATIONS IN GOLDMAN SACHS
Operations Risk & Resilience is responsible for coordinating the Operations Risk Management framework activities across Operations (comprising of embedded Operations and Core Operations, together the “Operations”), with particular focus on cross-divisional risk reporting, remediation, and governance. Operations Risk & Resilience (ORR) is an independent 1st Line of Defence (1b) risk management group responsible for driving risk accountability and maintaining consistent risk management standards across Operations, and for developing and maintaining key capabilities which provide fresh insights on a scalable basis. The key capabilities that ORR is responsible for are Quality Assurance including internal Fraud Control, Governance and Resiliency. The group develops risk training programs and risk management tools to pro-actively improving the risk and control framework across the Operations Division.
Operations is dynamic, multi-faceted and interacts all parts of the firm to provide banking, securities, and asset management services to clients around the world. In addition, Operations provides essential risk management and controls to preserve and enhance the firm's assets and its reputation. For every new product launched and every trade executed, it is Operations that develops and manages the processes and controls that enable business flow. Operations partners with other divisions in developing the firm’s processes and controls and specifying system requirements to ensure process and control accuracy, timeliness, and integrity.
OUR IMPACT
We are looking for an individual that exudes energy, curiosity, and enthusiasm to join the global Operations Risk & Resilience (ORR) team to conduct and further develop the ORR capabilities to enhance and maintain the Operations controls, processes as well as ensure adherence to Operations standards and policies.
The Quality Assurance capability is responsible for assessing the design and performance of key controls, conducts reviews and works with senior stakeholders to implement corrective actions across the Operations Division. In addition, the team maintain continuous testing programs to ensure division wide adherence to Operations policies and standards as well as performing data analysis to identify patterns/trends and risk themes. This includes Fraud Control specifically conduct fraud, segregation of duties, system access and other Operations owned policy related reviews. The team manages various cross-divisional and Operations wide programs which require an extensive knowledge of the firm and its divisions along with a high risk and technical focus.
Within Governance , the objective is to drive effective and accurate risk management primarily through the global Firmwide and Quarterly Risk & Control Self-Assessment Program (RCSA) by coordinating and influencing the second line teams to drive RCSA improvements and strategy across the Division. This involves understanding the Operations Division’s risk and control inventory in order to provide effective challenge on the control ratings ensuring that they accurately represent the risk environment in those teams as well as appreciating the differences across the Operations’ embedded teams. This is a key part of the risk framework which has a high level of global and senior management participation and requires established working relationships with Operations senior leadership. Governance also ensures there is a framework supporting the Division’s regulatory and vendor risk management obligations.
The Resilien ce capability leads the Operations Division business resilience planning and testing, regulatory Business Continuity Planning (BCP) input and crisis response. This remit includes planning for as well as recovery from disruptions to Operation’s business because of traditional threats (weather, building, political etc.), technology threats (cyber, application failure etc.) and market disruptions (payment issues, Eurozone crisis etc.). The team provides the Division’s 24/7 coverage for crisis response as part of the larger firm wide Immediate Response Team global network overseen by the Office for Global Security and is the Operations Division contact for firm wide BCP regarding regional and Firmwide strategy.
This is an exciting opportunity for an individual to work within an international organization and team located in New York, Dallas, London, Warsaw, Frankfurt, and Bengaluru.
RESPONSIBILITIES
- Challenge the status quo – challenge, test and enhance the Operations risk and control framework to further enhance the control environment and drive progress in efficiency of our processes
- Partner with colleagues across divisions around the globe, while contributing to and managing various ORR driven programs
- Represent ORR on forums to ensure accurate reflection of our functions, controls and frameworks
- Work with senior stakeholders to ensure risks, primarily those with the potential for broad applicability across the division, are effectively remediated
- Connect the dots across the Operations Division in the identification of emerging risks and issues - especially those with the potential for broad applicability across the division that can be effectively remediated through the use of a common set of controls and solutions
- Work closely with the respective product aligned Embedded Risk Managers, Controls Assurance, and Risk Solutions teams in other locations to share key initiatives and best practices to achieve common risk management goals
- Identify potential compliance and reputational risks, and effectively escalate to appropriate individuals
BASIC QUALIFICATIONS
- Knowledge of financial products, markets, and operational processes
- Professional work experience, with previous experience in Operations, the Financial Services industry, Project Management, Big Four firm or a regulator.
- Strong communication and interpersonal skills both written and oral - able to grasp technical concepts and communicate such concepts to various audiences
- Attention to detail and proven analytical and technical skills with desire to learn more
- Self-motivated and proactive team player, who takes ownership and accountability of projects, has strong organizational skills as well as the ability to effectively manage competing priorities for wide-ranging programs
- Proven ability to effectively manage operational risks and to develop control enhancements
- Experience in process mapping and change management
- Proficient in Microsoft Word, Excel, PowerPoint and Sharepoint,
- Knowledge of analytical tools such as Alteryx and Tableu
ADDITIONAL EXPERTISE
- Functional knowledge of Operations, systems, and controls
- Auditing, control testing or regulatory experience
- Experience implementing Quality Assurance framework and methodologies
- Experience of using data analytics to facilitate control testing
- Understanding of information technology systems and standard system implementation methodologies
- Strategic thinker with strong business analysis and planning skills. Capable of identifying and interpreting wider-ranging issues
- Demonstrate comprehensive understanding of job-related operational and compliance procedures
- Understands and appropriately addresses Goldman Sachs compliance and reputational judgment issues
