Equities: Reinsurance Group, Analyst (based BERMUDA) recruitment

Goldman Sachs Reinsurance Group (“GSRG”) was formed in 2005 as a principal operating business of the Securities Division and invests in the global (re)insurance space primarily via its standalone Life Annuity (“LA”) and Property Casualty (“PC”) companies. GSRG leverages the Firm’s capital markets, risk management, and origination capabilities to provide risk and capital management solutions.  Key attributes include:

•International Insurance Franchise:  GSRG manages 6 main insurance companies and a Lloyd’s Syndicate, in multiple jurisdictions (incl. US / UK / Bermuda) with the ability to transact in various lines in over 150 countries
•Origination and Deal Structuring Capabilities:  GSRG has a dedicated team of professionals focused on the (re)insurance business in New York, London and Bermuda. Since 2005, GSRG has successfully executed transactions totaling $20+ billion in assets
•Risk Manager:  The business leverages the full scope of GS risk, systems, tools and management expertise. The business is subject to Firmwide risk management, operational and compliance systems and procedures
•Experienced Management Team:  The management team consists of GS executives with significant insurance, risk and asset management and investment banking / structuring experience.

The Role:
To assist in the origination, development and management of a property catastrophe retrocession portfolio and the execution of hedging strategies for the Goldman Sachs Property and Casualty business.  The role includes:

•Underwriting: supporting the SVP of inwards / ceded retrocession with marketing, risk selection, broker negotiation and trade execution. Includes the daily use of recognized industry pricing tools, and help in the continued development of internal pricing tools;
•Risk hedging: involvement in assessing the relative merits of different hedging structures, designing optimal reinsurance structures, creating information submission to provide to potential counterparties, and helping to market, negotiate and execute;
•Administrative Support: Co-ordinate and provide general administrative support for all forms of contract negotiations. Ensure timely booking of all trades in the firm’s risk systems (IRIS / SecDB / ARPS) and accuracy / integrity of underwriting data in group underwriting systems;
•Financial Reporting: Help maintain the financial reporting for the business including production / validation of monthly PnL, stress-testing and forward business planning;
•Communication: prepare regular postings for circulation to wider group including both internal (Goldman Sachs Reinsurance Group (GSRG) Board and Underwriting Committee) and external (e.g.: Lloyd’s / Bermuda Monetary Authority) senior management. Be the focal point of communicating with Goldman Sachs federation including conflicts, CDD, compliance, legal, credit, finance and operations as required;
•Other projects as appropriate, likely to involve liaison with other GS divisions to help research and develop wider risk syndication activities.

Experience required

•Skills required are a blend of quantitative and general sales with a very strong attention to detail and work ethic.
•An Investment Banking or Securities background (especially FIG) would be desirable or some experience in a front office client facing role.  Insurance knowledge would be helpful but not essential.
•Strong interpersonal skills, the ability to communicate effectively, and growing negotiation skills.
•Strong analytical skills and excellent problem solving / decision making abilities.

Goldman Sachs is an equal opportunities employer and is committed to the principle of diversity.   Goldman Sachs conducts background checks on individuals offered employment with the firm and employment with Goldman Sachs is conditional upon individuals successfully completing those checks. As past of the background check process, Goldman Sachs may need to obtain a record of disclosable criminal convictions form a government agency such as the Criminal Records Bureau.  The firm has adopted policies on the recruitment of ex-offenders and on the retention, storage and disposal of criminal information which are available on request.