I'm interested in applying for a position with Goldman Sachs as a credit risk specialist? What exactly do they do? What is the pay/hours like? I've used the search function but there's not much written about it. Some people say its front office while others say its middle office.
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It can be either/or. We have credit risk analysts (FO) and credit risk support/operations (MO). What is the exact position? "Credit risk specialist" doesn't tell us much.
The general idea is to monitor and reduce the credit risk that we take on in dealing/trading with a particular counterparty. Monitoring financials (NAVs/AUMs/etc), overseeing onboarding of new counterparties, guarding against potential losses resulting from a "credit event" ... you get the idea.
I have a buddy who is a Credit Analyst at a BB firm. His job consists of putting together large reports on mid-large cap companies. These reports contain among many things the companies overall credit worthiness. I believe they are for internal use seeing that many times his bank is the one issuing the capital to the respective company. I would guess the position at GS would be something of this nature.
If your looking at it from an exit standpoint I think it isn't a bad spot to be. He gets offers from various firms in equity/debt analysis roles, if that is your ultimate goal.
its risk management. most likely middle office. from the pple i know in similar positions, hours wont be as bad as other front office jobs. but bonuses aren't as large either.
Thanks for the info so far guys. Do you know anything about pay/hours?
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