Operations is a dynamic, multi-faceted division that partners with 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.
Asset Management Operations is part of the Operations, Technology and Finance (OT&F) division of Goldman Sachs and comprises over 450 professionals based in 7 centres across the globe. We partner with two main areas of the firm to deliver asset management capabilities to clients around the world, providing essential risk management and control as well as client service and excellence in execution:
Goldman Sachs Asset Management (GSAM) is the investment management arm providing global investment opportunities to a substantial and diversified client base including institutions, governments and high net worth individuals. GSAM has become one of the pre-eminent investment management organisations globally, with responsibility for over $800bn assets under management.
Critical to our success is our ability to define solutions and lead change across the operational infrastructure by leveraging a global team of team of talented professionals, which are organised across following 6 functional areas:
Portfolio Control & Analysis (PCA) team has primary responsibility for all aspects of portfolio control, accounting, cash management and client reporting. This is undertaken for a wide range of clients and a complex product range covering equities, fixed income, currency and derivatives. In this the team supports Portfolio Managers and Traders, Sales and Marketing and Client Service professionals by providing accurate and timely client account information.
Trade Management (TM) supports Portfolio Management and trading groups to ensure, post execution, that all trades are processed in a controlled manner to reduce the risk of settlement failure. Trade Management is independent from the Portfolio Managers and Traders with the capability to monitor and report on the status of a trade during its "life cycle".
Client Management Group has accountability for a number of key areas within GSAM Operations such as Account Management, Billing, Asset Servicing, Data Control, and Relationship Management as well as support for other specialised areas within GSAM.
Risk Management (RM) team has a primary responsibility to provide a rigorous framework that enables future activity to take place in a consistent and controlled manner. This involves providing a comprehensive and structured understanding of business activity, volatility and project opportunity / threat as well as providing risk mitigation and prevention services and optimising operation efficiency.
Fund Administration (FA) has primary responsibility for Net Asset Value and Portfolio Accounting as well as providing high quality Fund Administration services for the client funds administered. This involves daily trade date cash and position reconciliations as well as daily settle date position reconciliations, between the client and Prime Broker. In addition, they will undertake monthly price and position reconciliations between the Client, Prime Broker, and GSAS. In this process they work closely with, and in support of, Fund Accountants.
The Associate is responsible for identifying opportunities and implementing initiatives to improve control or efficiency within a functional area and supporting a new product or business. As leader of project efforts or process management, the role requires broad knowledge across multiple processes, systems, markets, and instruments in order to deliver integrated, effective decisions; especially as it will impact work and processes outside of the immediate department and potentially across the division.
JOB SUMMARY AND RESPONSBILITITES
An associate typically troubleshoots the most complex and/or sensitive problems in the area, such as researching and resolving a critical error with client visibility. This role may be responsible for leading multiple projects/processes at the same time without close supervision.
Specifically, the responsibilities of the role will involve:
Leveraging extensive product, market, processes and system expertise to manage new sensitive business functions or support existing intricate business functions.
Spearheading projects, working with Technology to proactively identify opportunities and drive the development and enhancement of processes and systems. This will involve identifying resource requirements, establishing project timelines, assessing project costs, and documenting proposed benefits.
Providing a thoroughly researched recommendation to build solutions to a problem or a change in the business environment (e.g. regulatory changes, new client requirements, trading on new exchange).
Building relationships with other internal business units and externa; financial institutions to improve quality and productivity of work, integrating best practices as appropriate.
Providing exemplary client service at all times in terms of dealing with queries, educating clients and counterparties in understanding products and markets as well as GS processes and procedures and generally communicating in a professional way as the voice of GS.
Supporting client discussion as a technical resource to determine which elements of the GS infrastructure to leverage in order to fulfil a client’s needs.
Enforcing internal controls, policies and procedures and challenging appropriateness and completeness of controls, procedures and training documentation.
Interviewing candidates and lending significant input to the hiring process within the work unit.
Particular capabilities that are required of the role within Portfolio Control & Analysis are:
Identifying and implementing improvements to the information that is provided to internal clients (Portfolio Managers, Traders).
Managing risk on sensitive or challenging portfolios attributed to position and transaction breaks against the external counterparties, as well as ensuring that these are prioritized, pursued and escalated to ensure resolution.
Investigating and solving the most complex or sensitive accounting, performance and portfolio issues.
Driving departmental change events including systems automation, functional migrations, new business, new account, new product, new instrument and new market as well as client experience initiatives.
Standardising and strengthening reconciliation, valuation, accounting, reporting, control and risk management capabilities and standards.
Liaising with senior internal (Portfolio Managers, Traders, Sales / Marketing, Client Relationship Managers) and external clients (Institutional, Governmental, High Net Worth) as well as external counterparties (Custodians, Fund Administrations, Prime Brokers, Future Clearing Merchants).
Minimum of 4 years asset management experience or similar
Demonstrates ability to independently troubleshoot and resolve most common problems that arise.
Demonstrates ability to apply re-engineering methodologies to processes and execute solutions.
Demonstrate ability to identify inter-relationships and understand the broad impacts of work and projects across the organisation, as well as to involve the right people, in the right way, and at the appropriate project stage.
Demonstrates ability to drive project success and process efficiency as well as to secure cooperation from other areas as necessary.
Possesses excellent communication skills.
Possesses a good understanding of client types, relevant markets, products, processes, regulations and systems required to achieve business objectives.
Demonstrates an in-depth understanding of how Operations supports the business, how risk is managed and how controls operate.
Proactively seeks and undertakes appropriate training to further enhance client / market / industry knowledge.
Capability to prioritise and make decision in a fast-paced environment.
Energetic team player, able to work well inside a group.
Flexible individual, able to be learn quickly
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.
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