Asset & Wealth Management - Quantitative Engineering - Vice President - New York

Job Description 

The successful candidate will apply their multidisciplinary knowledge and expertise, involving financial theory, mathematics/statistics, and software engineering methods, to design, implement, test and enhance our methodology for delivering goal- and risk-based solutions to retail clients at scale. The successful candidate will lead research & design efforts in collaboration with stakeholders and subject matter experts to deliver production level implementation in a complex, highly integrated cloud-based system. 

Digital Advice Solutions span algorithms covering: 

• Asset allocation methodologies for retirement investing (a.k.a. glidepath and personalized glide path construction for Defined Contribution 401(k) participants) 
• Strategic asset allocation model construction and robust algorithms related to “on-the-fly” active risk budgeting given various constraints and inputs without human intervention 
• Financial planning methodologies such as forecasting using capital market assumptions and spend down retirement income strategies under IRS taxation schedules, different account types (pre-/post-tax, Roth) and guaranteed income products with actuarial background knowledge. 
• Algorithm design facilitates implementation in a real-time distributed software environment to address commercial needs 

The digital lifecycle advice field is broad and our commercial needs evolving. The successful candidate will need to operate effectively in a fast-paced dynamic environment while maintaining project-based focus with a view to the holistic product design and implementation. This position will be situated within our Multi Asset Solutions Research team and work in close collaboration with our tech engineering teams to drive product implementation and commercial success. 

KEY AREAS OF RESPONSIBILITIES 

• Designing algorithms for building personalized portfolios to better achieve risk based and retirement goals considering a broad variety of investor characteristics, market factors and other elements that drive financial advice 
• Designing algorithms for automated portfolio construction and ongoing portfolio management of retail portfolios at scale 
• Designing planning methodology for delivering financial and investment advice at scale considering human capital factors considering labor economics, IRS rules, retirement plan specific requirements, account type level requirements, actuarial modeling to chastic forecasting methodology, and other financial planning aspects 
• Developing tools to improve functionality for ongoing monitoring and quality control of the financial advice given to clients 
• Working with software designers and developers to ensure effectiveness of advice and financial planning methodology solutions in production software 
• Documentation of design methodologies and assistance in testing of production system output
• Working with software developers to ensure advice and financial planning methodology solutions are implemented correctly in user-facing software. 
• Working with compliance to support the need to comply with rules and regulations faced by financial services companies 
• Working with the business development team to create content for use in sales pitches and client meetings

REQUIREMENTS

• PhD in Quantitative Finance/Economics, Computer Science, Operational Research, or Applied Mathematics 
• 10 years of experience in the financial advice industry, knowledge of the regulatory framework - CFP, FRM, CFA, CIPM charter holders preferred. 
• At least 10 years of experience utilizing Matlab, Python or comparable software to facilitate research and facilitate the development of commercial software applications
• At least 5 years of experience designing quantitative financial solutions for retirement solutions for a retail client base
• Proven track record for delivering practical research to drive commercial success and software product development
• Excellence in algorithmic analysis and structuring of complex problems, ability to communicate ideas on paper and present to internal and external stakeholders and clients in an intuitive and easily understandable way.
• Strong interpersonal skills, team-oriented, and collaborative 

LOCATION 

We usually aim for a 5-day work from work policy in our New York headquarters. This is especially recommended at the beginning of the placement in order to quickly adapt to the new environment and learn from your colleagues. 

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