Clearing Operations – Client Clearing Services – Associate / VP recruitment

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. 

BUSINESS UNIT AND ROLE OVERVIEW

Operations is a multi-faceted division that turns ideas into business realities. We partner with all areas of the firm to deliver banking, sales and trading and asset management capabilities to clients around the world. Alongside that vital service delivery role, Operations provides essential risk management and control, preserving and enhancing the firm’s assets and its reputation.

Derivatives Clearing Services (DCS) sits alongside Prime Brokerage and Listed Derivatives Operations and together form Global Clearing Operations. DCS supports all products within the expanding OTC cleared world and is actively driving strategy for a future state, highly regulated model.

The DCS Operations team manage the post execution processing of derivatives trades across all eligible Interest Rate and Credit Derivative products. The processing structure ranges from Middle Office support on trade date, managing client statement and reconciliation, and Settlement of cashflows generated through execution and life cycle events.  

The team acts in partnership with a wide variety of groups across the firm globally with daily interaction with the wider Operations teams, Sales, Technology, Legal and Finance. Operations are heavily involved in new product initiatives and process improvement to streamline our support model. The DCS Operations team are heavily engaged in the market initiatives that are taking place across the OTC derivative industry. DCS Operations plays a central role in ensuring that Goldman Sachs retains their position at the forefront of this industry.

The role gives plenty of opportunities to work in a large and high-profile team and to contribute to Goldman Sach’s external and internal standing in the OTC Cleared market. It is a fantastic opportunity for someone who is motivated, ambitious and excited about contributing to our business and as part of a team who are responsible for driving change within a demanding and complex environment, there is great opportunity to gain exposure to senior managers in all areas of the firm.

RESPONSIBILITIES

• Operate as a primary point of contact for select clients to facilitate margin communication and client questions (ultimately across multiple asset classes) in a manner that creates an optimum client experience balanced with effective risk management

• Risk mitigation, ensure economic trade details are booked correctly in risk systems post trade execution.

• Build control and process within the Middle Office team, develop people and promote the group.

• Close interaction with experts from various different teams such as wider Operation teams, Technology, and GS sales/trading to resolve issues. This role will involve a large amount of facilitation and negotiation.

• Participate and lead discussions in Working Groups to shape the OTC Cleared product as it evolves.

• Work closely with other team members and management to achieve both industry set and internal targets.

• Demonstrate strong technical and Industry knowledge around Client Clearing initiatives including workflows, procedures and systems.

• Develop and implement strategic changes to re-engineer processes and reduce risk surrounding the function.

• Actively involved with idea generation and implementation of creating efficiencies within the team to support regulatory changes as well as new client and business requirements.

• Directly interacting with the Firm’s clients both internally and externally to mitigate risk for the firm and our client base.

• Ensure that processes are continually reviewed and improved, risk is managed, and results are achieved that meet expectations for timeliness, quality and cost effectiveness within the Department.

BASIC REQUIREMENTS

• Extensive experience working with Derivative products within a Global Financial Institution.

• Demonstrable success is driving performance and leading by example in a fast paced and diverse environment.

PREFERRED REQUIREMENTS

• OTC Derivatives Documentation, Trade Processing or Settlement experience advantageous but not essential.

• Up to date knowledge/expertise of the regulated environment surrounding derivative clearing.