Finance, Funding Controllers, Analyst / Associate, Frankfurt

MORE ABOUT THIS JOB

FINANCE

We're a team of specialists charged with managing the firm’s liquidity, capital and risk, and providing the overall financial control and reporting functions. 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. 

RESPONSIBILITIES AND QUALIFICATIONS

THE PRODUCT CONTROL MODEL AT GOLDMAN SACHS

We operate a "complete ownership" model and see this as a "mini-CFO" role with regards a trading desk, with responsibilities including [plus some of the team's controller liaise with]:

• P&L reconciliation [liaising with Operations, Technology and Strats]
• P&L explain [Traders, Strats, Market Risk]
• New trade analysis and Market Conformity checks [Traders and Strats]
• Balance sheet review [Legal Entity Controllers]
• Capital requirements for new trades and ongoing business [Regulatory Capital controllers, Market Risk Controllers, Credit Risk Controllers]
• Price verification [Traders and Controllers PV group]
• Federal reporting. [Fed reporting teams]
• Financial Reporting disclosures [Accounting Policy, Legal Entity Controllers]
• More generally being the point of contact within the Federation for a trading desk [Tax, Compliance, Legal, etc.]

We believe that our model supports integrated think ng across the control processes listed above, which we see as critical to ensuring the connectivity of key control processes. Our clear ownership of the full P&L process also leverages our access and interaction levels with the business and other stakeholders as there is no uncertainty or ambiguity around roles. Our model, supported by our philosophy of scalable processing and exception-based workflow, has driven investment in strong, standardised P&L systems over the years. This allows us to run with smaller teams, improving people's connectivity and ability to span product classes, and allows for less time to be spent on manual reconciliations or data manipulation allowing more time for analysis and value-add work. Our efficient use of headcount also provides good access to senior management at early levels. It also means Product Control as a function is based on the same floor as Legal Entity Controllers, Regulatory controllers, Financial Reporting, Accounting pol! icy, Treasury and Market Risk which encourages and facilitates collaboration and information/knowledge sharing across these areas.

RESPONSIBILITIES

The primary responsibilities of Product and Funding Controllers are to produce and analyse the daily trading activities, to report the trading divisions' profits and losses and to verify the values of positions held by the trading desks, both securities and derivative. This role requires extensive liaison with the trading desks, the Risk Management Group and the Operations Teams, as well as with colleagues in Controllers. Product Controllers are expected to develop a good understanding of the products they monitor and of the strategies used by the trading desk to generate revenue for Goldman Sachs. The function has become increasingly technical in content and offers a challenging and interesting role, which would sui dynamic, bright and ambitious individuals with a drive to succeed.

• Preparing the daily profit and loss account for trading desks, involving an assessment of the nature of revenue generated in the context of market moves and risk held as well as reconciliation between front office systems and sub-ledger as well as the firm's general ledger.
• Producing and reviewing profit and loss attribution and commentary for the bank's trading, investing and new issuance businesses. - Intelligently reviewing trading activity to help assess the valuation of the portfolio and to highlight anything unusual or material to management.
• Monthly price verification review and challenge of trader inputs into inventory pricing as w! ell as incremental assessment of less observable inputs.
• To interact effectively and pro-actively with traders and their management.
• Assessing risk inherent in trading positions, whether market, compliance or reputational risk etc.
• Developing an in depth knowledge of products and market awareness.
• Understanding of the impact of Regulatory Capital rules on a trading desk's ongoing and new business.
• Ensuring compliance with all the Firm's financial reporting requirements.
• Account and monitor for the Firm's secured and unsecured financing activities.
• Liaising with other Federation departments in a collaborative and problem-solving capacity.
• To be fully informed of all department developments and issues in their trading areas.

RECOMMENDED SKILLS and QUALIFICATIONS

Our people come from a diverse set of backgrounds and experiences, if you're interested in working in the product control or funding controllers, you should be able to demonstrate the following:

• CA/ACCA qualified or equivalent preferable, however flexibility around this in the context of relevant experience.
• That you are highly motivated, with commercial focus and strong analytical and communication skills.
• You enjoy being challenged, are team orientated and have good attention to detail.
• You should have integrity, professional skepticism, a strong work ethic and a desire for excellence.
• You have good interpersonal skills as complement to technical aptitude.
• A desire to learn and interest in financial markets and products.

• A track record of improving processes and adding value to clients/stakeholder

ABOUT GOLDMAN SACHS

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

© The Goldman Sachs Group, Inc., 2020. All rights reserved.Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity

Job ID: 2020-66715

Schedule Type: Full Time

Level: Associate

Function(s): General

Region: EMEA

Division: Finance

Business Unit: Legal Entity Controllers

Employment Type: Employee

• Full Time position
• Compensation will be Market Rate