OUR IMPACT
The Goldman Sachs Group, Inc. is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.
Founded in 1869, Goldman Sachs has long sustained a commitment to hiring and training outstanding leaders. Our business principles are rooted in integrity, a commitment to excellence, innovation and teamwork. These values enable us to execute successfully a business strategy that is focused on extraordinary client service and superior long-term financial performance for our shareholders.
We conduct our business in increasingly complex markets. Our people must continually find new ways to provide access to capital, manage risk and provide investment opportunities for our clients to enable them to realise their goals. We judge ourselves on our ability to help clients anticipate and respond to changing market conditions and to create opportunities that merit the trust they place in us.
We are committed to growing our distinctive Culture and upholding our core values which always place our client's interests first. These values are reflected in our Business Principles, which emphasise integrity, commitment to excellence, innovation and teamwork.
BUSINESS UNIT OVERVIEW
We have Collateral Management (Cleared and non-cleared), Portfolio Reconciliation , Margin Lending and Ready to Margin which are part of Margin, Collateral Valuations Operations (MCVO) sits within the Goldman Sachs Operations organization. A global, multi-faceted and cross product function, the primary objective of the department is the mitigation of counterparty credit risk through the active monitoring of clients’ derivative, prime brokerage, GS execution & clearing, derivatives clearing and securities financing portfolios. The Bangalore MCVO team is works in close partnership with teams in New York, London, Singapore & Salt Lake City.
Products supported include foreign exchange, commodities, credit, equity, interest rate and bespoke structured derivatives. The team manages a wide range of complex processes, with members developing skills and competencies around derivative & security products and their respective business areas, legal agreements, technology flows and regulations.
JOB SUMMARY AND RESPONSBILITIES
An employee within MCVO will primarily be focused on the mitigation of counterparty credit risk through the performance of a number of operational processes. They will be expected to perform these functions as well as demonstrating innovation and a proactive approach, highlighting inefficiencies, risks and implementing improvements. In addition, they will also be expected to provide a high level of service to their clients.
The role will involve close interaction with a wide range of areas of the bank including Credit Risk Management, Legal and Compliance, Sales, Trading, Controllers, Middle Office, Client Representatives, Central Clearing Services and other Operations Departments. As a result the successful candidate will be required to possess strong communication skills.
We promote cross training and ensure our employees develop a broad level of understanding across the varied departmental functions carried out. You can expect to be given early responsibility and in return you will be expected to contribute your own ideas to make a difference and add value to the group.
Some specific set of responsibilities are
- Review and analyze ISDA/CSA and other Master documentation; Determine material clauses and identify key risk fields in documentation.
- Identified key risk fields are digitized and stored in Credit, Legal & Margin systems. Our team is repsonsible to review and approve these terms before they get updated in these downstream systems. The terms captured vary from simple to complex structured extraction and are to done to suit our designed data capture model.
- The captured terms have direct impact on pricing for trade, trade confirmation generation, collateral holding & funding and regulatory requirment per UMR rules (Margin Rules).
- Develop a comprehensive understanding of the Legal and Credit workflow and systems
- Liaise with Legal, Credit, Middle Office, Trading/Sales/Strategists, Corporate Treasury, Collateral and other internal GS teams on issues
- Work closely with IT to identify/resolve system issues, and implement system enhancements to increase efficiency in current processes
- Identify potential risks in operational processes; develop and implement controls to mitigate risk
- Analyze and improve workflow to improve operational efficiency
- Work with the global team to produce reports and build metrics
- Working on Adhoc issues with internal MCVO teams
- Performing a number of control functions, ensuring the integrity of our processes
- Review and approval of management and regulatory reports
- Participate in all new product reviews to ensure they can be supported in a scalable way
SKILLS / RELEVANT EXPERIENCE
- Derivative documentation experience, either in Ops documentation teams drafting, middle office or derivatives legal experience
- Familiarity with ISDA Masters Agreements and the relevant schedules along with NY and/or UK law CSA’s
- Ability to break down and fully understand documentation and parse into constituent components
- Ability to understand Regulations like UMR, FINRA, BREXIT, others and its impact on documentation and Margining requirements.
- Ability to connect flows across different systems and be able to conclude on break in system for resolving illogical condition/set up done.
- Attention to detail – goal of zero defect in work product
- Ability to work independently as well as be part of an interactive team
- Ability to multi-task and prioritize
- Strong control orientation
- Good problem solving skills/judgment – including ability to identify issues that require escalation
- Excellent verbal and written communication – role requires a lot of interaction with internal clients as well as drafting process documentation.
- Self starter who will push themselves to learn
COMPETENCIES
- Functional Expertise - Keeps up-to-date with emerging business, economic, and market trends
- Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate financial/analytical skills
- Drive and Motivation - Successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
- Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients, helps the client to identify/define needs and manages client/business expectations
- Teamwork – Gives evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions
- Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
- Judgment and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives. Sees the big picture and effectively analyses complex issues
- Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
- Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions. Takes a position on issues and influences others' opinions and presents persuasive recommendations
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., 2023. All rights reserved. Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity
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