Risk, Credit Risk – Corporates, Associate, Frankfurt

RISK

The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout the firm. Corporate Credit Risk manages a portfolio of corporate lending and derivatives trading clients and ensures best in class execution of transactions and ongoing portfolio management.

CREDIT RISK - CORPORATES

We are looking for a highly motivated individual who is able to deliver credit risk analysis on corporate transactions, on the basis of a thorough understanding of credit fundamentals, of leveraged capital structures and of risks associated with lending and derivatives products. You will be responsible, from a Credit Risk standpoint, for a portfolio of EMEA Corporate clients, and you will be expected to manage it on the basis of a deep understanding of credit fundamentals, market trends, impact of changing regulatory requirements and risks associated with lending and derivatives transactions.

TEAM OVERVIEW

Credit Risk works closely with the CRO / senior management to manage Goldman Sachs’ credit risk. Credit professionals protect the firm’s capital by using in-depth knowledge of our clients, markets, and trading products to make decisions on acceptable level of firm’s risk appetite. Staffed with 300 professionals, Credit Risk operates through 11 different offices around the world. Credit Risk provides a unique opportunity to develop a variety of professional skills and expertise in risk management while working on financial transactions.

RESPONSIBILITIES

• Assist in assessing the credit and financial strength of the firm's corporate borrowers and counterparties by performing fundamental credit analysis using both quantitative and qualitative factors.
• Support the review of lending and underwriting transactions (such as LBO, M&A, and relationship lending), contributing to the determination of risk appetite and regulatory ratings, by analysing cash flow projections and key documentation protection.
• Contribute to regular sector analysis to help assess portfolio concentrations or trends.
• Collaborate with Investment Banking/Financing group, Sales & Trading, Legal, Operations, and Compliance departments to support the approval of derivatives business and ensure appropriate documentation, limits, and risk mitigants to protect against counterparty default and minimize potential losses.
• Analyse the risks inherent in the products transacted by the firm, including lending, trading, and derivative products.
• Support the management of relationships with other areas of the firm, including Investment Banking, Asset Management, Global Markets, Controllers, Treasury, Legal, Compliance, and Technology.

BASIC QUALIFICATIONS

• Minimum of 3 years of credit risk management experience, with a background in corporate credit risk.
• Experience in investment banking products including loan products and derivatives.
• Demonstrable ability to contribute to independent decision-making processes and support client and business negotiations.
• Familiarity with regulatory rating requirements and application of such guidance.
• Strong documentation (loan and/or derivatives), analytical, presentational, and communication skills.
• Ability to work effectively within a diverse deal team, taking guidance from and supporting senior members of the team.
• Ability to communicate clearly and concisely within the firm, with the confidence to present transaction analyses and credit recommendations to senior management.
• Proficiency in MS Excel (including financial modelling, cash flow forecasting, and sensitivity analysis).
• Fluency in English (written and spoken); professional proficiency or fluency in German is a plus for managing local EMEA relationships.
• Progress toward or interest in pursuing professional certifications such as the CFA (Chartered Financial Analyst) or FRM (Financial Risk Manager) is an advantage.

COMPETENCIES

• Functional Expertise - Actively learns and keeps up-to-date with relevant business, economic, and market trends.
• Technical Skills - Demonstrates foundational technical skills required for the role, pays attention to details, and takes initiative to broaden knowledge and apply financial/analytical skills.
• Drive and Motivation - Successfully handles multiple tasks, takes initiative to improve performance, works diligently towards challenging goals, and persists in the face of obstacles or setbacks.
• Client and Business Focus - Effectively responds to requests, builds trusting relationships with colleagues and clients, helps identify/define needs, and manages expectations.
• Teamwork – Gives evidence of being a strong team player, collaborates with others within and across teams, encourages other team members, and acknowledges contributions.
• Communication Skills - Communicates relevant information in a clear and concise manner, shares information/new ideas, and escalates issues appropriately.
• Judgment and Problem Solving - Thinks ahead, anticipates questions, plans for contingencies, seeks alternative solutions, identifies clear objectives, and can analyse complex issues.
• Creativity/Innovation - Looks for new ways to improve current processes, including the proactive adoption and leverage of AI tools to enhance the speed and depth of credit assessments.

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

We’re committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. : https://www.goldmansachs.com/careers/footer/disability-statement.html

© The Goldman Sachs Group, Inc., 2026. All rights reserved.

Goldman Sachs is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, national origin, age, veterans status, disability, or any other characteristic protected by applicable law.

We Offer Best-In-Class Benefits Healthcare & Medical Insurance We offer a wide range of health and welfare programs that vary depending on office location. These generally include medical, dental, short-term disability, long-term disability, life, accidental death, labor accident and business travel accident insurance. Holiday & Vacation Policies We offer competitive vacation policies based on employee level and office location. We promote time off from work to recharge by providing generous vacation entitlements and a minimum of three weeks expected vacation usage each year. Financial Wellness & Retirement We assist employees in saving and planning for retirement, offer financial support for higher education, and provide a number of benefits to help employees prepare for the unexpected. We offer live financial education and content on a variety of topics to address the spectrum of employees’ priorities. Health Services We offer a medical advocacy service for employees and family members facing critical health situations, and counseling and referral services through the Employee Assistance Program (EAP). We provide Global Medical, Security and Travel Assistance and a Workplace Ergonomics Program. We also offer state-of-the-art on-site health centers in certain offices. Fitness To encourage employees to live a healthy and active lifestyle, some of our offices feature on-site fitness centers. For eligible employees we typically reimburse fees paid for a fitness club membership or activity (up to a pre-approved amount). Child Care & Family Care We offer on-site child care centers that provide full-time and emergency back-up care, as well as mother and baby rooms and homework rooms. In every office, we provide advice and counseling services, expectant parent resources and transitional programs for parents returning from parental leave. Adoption, surrogacy, egg donation and egg retrieval stipends are also available. Benefits at Goldman Sachs Read more about the full suite of class-leading benefits our firm has to offer.

Opportunity Overview CORPORATE TITLEAssociate OFFICE LOCATION(S)Frankfurt JOB FUNCTIONCredit Risk DIVISIONRisk Division