Credit Risk - Workout & Restructuring, Vice President, London

    • London, United Kingdom



RISK

The Risk Division is charged with managing the firm's credit, market, liquidity, and operational risk. Whether assessing the creditworthiness of the firm's counterparties, monitoring market risks associated with trading activities, or offering analytical and regulatory compliance support, our work contributes directly to the firm's success. The division is ideal for collaborative individuals who have strong ethics and attention to detail.

CREDIT RISK OVERVIEW

Credit Risk (CR) is responsible for managing the firm's credit exposure to its trading and lending counterparties. Leveraging its extensive expertise in financial, credit and risk analysis, CR ensures that credit exposure to our counterparts is managed within the firm's risk appetite. Staffed with more than 400 professionals, CR operates through 12 offices globally and credit professionals work closely with many areas of the firm. Given this structure, CR professionals gain diverse financial experience and a broad perspective on how the entire firm functions. The interaction with numerous departments and the range of projects that ensue allow for a challenging, varied and multi-dimensional work environment.

RESPONSIBILITIES AND QUALIFICATIONS

WORKOUT AND RESTRUCTURING TEAM OVERVIEW

The Workout & Restructuring (W&R) team is a specialist group within Credit Risk that maintains primary responsibility for (i) managing the firm's distressed and defaulted credit positions to maximize recoveries, and (ii) evaluating and structuring new transactions with distressed counterparties. Principal offices are in New York and in London to ensure global coverage of the portfolio. All major industries are represented, including consumer and retail, natural resources, financial services, TMT and real estate. All major business lines are in scope, including Investment Banking, Merchant Banking, Global Markets and Private Wealth Management.

Primary Responsibilities

  • Assess the credit and financial strength of the firm's corporate borrowers and counterparties by performing fundamental credit analysis based on quantitative and qualitative factors
  • Review credit agreements, bond indentures, ISDAs and related legal documents pertinent to transaction structuring, events of default and recovery assessments
  • Perform detailed analysis for highly structured lending, investing and derivatives trades
  • Actively participate in credit committees and express views with supporting rationale for new investments, exit opportunities and restructuring transactions
  • Create and update quarterly portfolio reviews and respond to ad hoc reporting requests for a diverse and global portfolio of distressed credit related positions
  • Track default and recovery metrics, and regularly report key information to senior management
  • Recommend regulatory ratings and watchlist changes, monitor trends in the portfolio, perform distressed analysis and estimate potential impairments
  • Interact regularly with Credit Risk industry teams, Investment Banking Coverage, Loan Origination and Syndication, Sales & Trading, Merchant Banking, Controllers, Legal, Compliance, Technology, etc
  • Develop and manage relationships with key industry participants outside the firm including legal and financial restructuring advisors, other bank workout teams, direct lenders and distressed credit funds

Basic Qualifications
  • Minimum seven years of relevant work experience, with knowledge and expertise applicable to credit risk, restructuring, leveraged finance and distressed investing
  • Significant experience in investment banking products including corporate loans, bonds and derivatives
  • Demonstrable track record of independent decision making and the ability to steer client and business negotiations
  • Familiarity with regulatory rating requirements and application of such guidance
  • Strong legal documentation (loan and/or derivatives) skills and familiarity with various jurisdictions
  • Must be able to lead and motivate an engaged and diverse deal team, providing guidance to and supervision of junior members on the team
  • Strong analytical, presentation and communication skills required. Must be able to communicate at the most senior levels

Preferred Qualifications
  • Functional Expertise - Keeps up-to-date with emerging business, economic, and market trends relevant to key industries and to the restructuring landscape
  • Technical Skills - Demonstrates strong technical skills required for the role, pays attention to details, 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 identify/define needs and manages internal and external client expectations
  • Teamwork - Shows 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, shares information/new ideas with others, and demonstrates judgment to escalate as appropriate
  • 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 by presenting persuasive recommendations


ABOUT GOLDMAN SACHS

ABOUT GOLDMAN SACHS

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., 2020. All rights reserved.
Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity


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