Operations, Structured Equity Derivatives Middle Office, Associate, Hong Kong (17223) recruitment

Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centres around the world.

We are committed to growing our distinctive Culture and holding to 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.

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

Operations span all product lines and markets, serving as internal business partners who develop the processes and controls, and help to specify the systems that deliver accuracy, timeliness and integrity to our business. 

Derivatives Operations is responsible for ensuring efficient and accurate transaction processing across a broad range of products. Generally, the products supported are complex instruments that require close alignment with the business. A key focus for the organization is establishing strong risk management procedures and controls to ensure the firm and our clients are properly protected. Derivatives Operations is at the forefront of shaping and driving change in the industry with the ultimate aim of delivering greater accuracy, control and efficiency for our clients and our business.

Business Unit Overview:

The Flow and Exotic Equity Volatility Business in Asia involves the delivery of bespoke trading solutions to a global client base trading listed OTC vanilla options, exotic and hybrid derivatives and listed securitised products. The business face off is broad, encompassing trading, structuring, marketing and sales.

The Asia Volatility Middle Office plays an integral part of this business providing the controls and efficiencies to allow it safely operate and develop. The team is currently four people in Hong Kong responsible for trade support functions; trade substantiation, product issuance, lifecycle management, document review, control reconciliations and marketing/sales support.

The team is managed within Derivative Operations as part of a wider structured derivative product middle office group. Daily interactions will be with the trading desks, the marketing/sales/structuring desks, other federation groups and external clients, vendors and agents.

The team undertake a number of different functions and are organised accordingly.

• Support new product origination and issuance of securitised derivatives.
• Portfolio lifecycle management of scheduled and market driven events (expiries, callable features).
• New issuance documentation review to ensure integrity of risk and legal product document definitions. 
• Daily risk mitigation duties such as risk booking analysis, ensuing the accuracy and completeness of hedging activities. .
• Monitoring and resolving open items on the suite of business critical control and position reconciliations
• Constant interaction with the trading and sales desks on live issues and resolutions.
• Work closely with all Federation areas to resolve both client and internal issues whilst also expanding understanding of the business
• Interaction across Operations and the broader Federation on strategic infrastructure development and business expansion

Responsibilities:

Within the first six months in the role a successful candidate should be able to demonstrate an understanding of the major processes and controls across the middle office and begin to own a number of these on a daily basis. They will also have spent time on the desk and on courses to improve knowledge of the products and industry. They should also have spent time with other federation areas to see the wider operational picture, especially technology to improve understanding of system flows and workings.
    
Development Prospects:

The role will give the successful candidate the opportunity to gain working familiarity with a structured derivative product range, understanding of the control environment and exposure to a multitude of different businesses and clients.

All this combined with an inclusive business environment and opportunity to make a difference, through exceptional client service and technical process re-engineering.

Skills/Experience:

MANDATORY:
• Have knowledge of derivative products, specifically the mechanics of the way they behave
• Have middle office experience, preferably in a exotic/structured environment

PREFERRED:
• Have excellent interpersonal skills and experience in forging strong relationships with internal and external clients
• Have an aptitude to get to grips with system infrastructure and the ability to embrace technology
• Able to extend themselves in a pressurised environment
• Experience multi-tasking and driving change

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 part of the background check process, Goldman Sachs may need to obtain a record of disclosable criminal convictions from 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 record information which are available on request.

Goldman Sachs is an equal opportunity employer. © The Goldman Sachs Group, Inc., 2012. All rights reserved.