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OUR IMPACT
Operations is a dynamic, multi-faceted division that partners with all parts of the firm to deliver banking, sales and trading and asset management capabilities to clients around the world. In addition, Operations provides essential risk management and control to preserve and enhance the firm’s assets and its reputation. For every trade agreed, every new product launched or market entered, every transaction completed, it is Operations that develops the processes and controls that makes business flow.
Portfolio Reconciliation within the broader Margin, Collateral, and Valuations team is a fast-paced and dynamic team which supports all areas of the firm dealing with funding, cash movement, collateral and margin management and pricing. The team also interacts with all areas of Operations giving members a unique perspective into the various business lines of the firm while impacting all business streams.
JOB SUMMARY & RESPONSIBILITIES
The Portfolio Reconciliation & Valuations Team falls under the broader MCVO (Margin, Collateral and Valuations business unit) which is within the greater PCO (Portfolio and Collateral Operations) sub-division. This sub-division supports all areas of the firm dealing with asset servicing, collateral and margin management and client onboarding.
Portfolio Reconciliation & Valuations are responsible for ensuring the reconciliation of positions is accurate and any discrepancy resolved in a timely manner. In addition, the team provides critical Valuation reporting to select clients for the positions they hold with Goldman Sachs across multiple products. The team manages a variety of products (OTC derivatives) and is responsible for ensuring clients and 3rd party reconciliation tools receive their reports on a timely fashion according to their requirements. This is a function in line with Dodd-Frank requirements and is heavily related to the margin rules program since Sept. 2016.
RESPONSIBILITIES
- Liaise with clients in order to track and resolve position discrepancies
- Consolidate requests in order to communicate pricing and position issues with Controllers, Credit and Middle Office teams
- Deliver position reports to clients and 3rd party vendors on a timely fashion
- Constantly recommend and develop more efficient methods of price consolidation and delivery
- Participate in development and implementation of Portfolio Reconciliation mandate
- Plan and execute projects under Manager's direction
- Review and resolve collateral disputes using various firm tools while liaising with clients, trading, Controllers, Credit, etc
HOW YOU WILL FULFILL YOUR POTENTIAL
- Liaise with clients in order to track and resolve position discrepancies
- Consolidate requests in order to communicate pricing and position issues with Controllers, Credit and Middle Office teams
- Deliver position reports to clients and 3rd party vendors on a timely fashion
- Constantly recommend and develop more efficient methods of price consolidation and delivery
- Participate in development and implementation of Portfolio Reconciliation mandate
- Plan and execute projects under Manager's direction
- Review and resolve collateral disputes using various firm tools while liaising with clients, trading, Controllers, Credit, etc
- Leverage your analytical skills to identify complex dispute drivers across all OTC derivative products and liaise with trading desks and Controllers to resolve
- Use your inquisitive mindset to identify control weaknesses with respect to process flow methodology as well as develop an understanding of how cash flows and trades are valued and discounted inline with LIBOR and CSA specific methodologies
- Grow with the team; develop a deeper understanding of complex derivative transactions and work with our business partners to progress to progress collateral dispute investigation and resolution
SKILLS & EXPERIENCE WE’RE LOOKING FOR
BASIC QUALIFICATIONS
- Bachelor’s degree with a minimum of three years of experience in financial services
- Proven analytical skills, problem solving ability, and a control mentality paired with meticulous attention to detail
- Aptitude for building relationships and ability to communicate complex issues to a wide array of internal clients with differing levels of product experience
- Self-motivated and proactive team player who takes ownership and accountability of projects, has strong organizational skills as well as the ability to effectively manage competing priorities
- Flexible and able to work well under pressure in a team environment
