Finance, Controllers, IMD Product Control - Valuation, Vice President, Jersey City
MORE ABOUT THIS JOB
FINANCEWe're a team of specialists charged with managing the firm's liquidity, capital and risk, and providing the overall financial control and reporting functions. 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.
Job Summary & Responsibilities The successful candidate will be responsible for performing valuation oversight for securities and derivatives held in strategies managed by the Investment Management business. They will assist in the review of portfolio performance and reconciliation with desk estimates particularly as it relates to those strategies which hold securities and derivatives. The candidate will interact not only with controllers management but also investment professionals engaged in managing a multi-strategy investment portfolio. Principal Responsibilities - Responsible for price verification of positions held in the portfolios including, but not limited to interest rate swaps, inflation linked interest rate products, credit default swaps, total return swaps on emerging market debt, securities (equities, MBS, ABS, emerging market debt, investment grade bonds, high yield bonds, government bonds, etc.)
- Evaluating and Pricing MBS, ABS, CDS and Swaptions.
- Tracking and implementing market indicators such as ABX, CMBX, TBA and Treasuries in order to maintain/update all the pricing matrices for the respective products.
- Performing reverse engineering of deals and trades in order to back out assumptions such as spreads, prepayments, losses, and defaults among others and use such data to calibrate the internal models/matrices used for pricing.
- OAS DM Yield/Loss modeling/Prepay modeling
- Implementing and helping develop new pricing methodologies for all different asset classes (Treasuries, Agencies, CMO, ABS, Corporate and CDS) to properly price each bond and accommodate the ever-changing market conditions.
- Price various types of Agency and Non-Agency Mortgage Backed Securities (MBS) structures using different pricing/modeling methodologies.
- Price Asset Backed Securities (ABS), such as Subprime Home-Equity bonds (across capital structure), Student loans, Credit Cards, Auto loans and Utility loans.
- Price Manufactured (MH) bonds by properly modeling prepayments and losses to determine the value of the cashflows. -Price credit default swaps (CDS) on single-name Asset Backed bonds backed by subprime collateral.
- Assist in the development of a valuation and price verification framework for newly traded derivatives and securities; in conjunction with IT, operations and portfolio management
- Regular interaction with other departments: IT, operations, fund accounting, legal and compliance
- Assist in the review and reconciliation of performance specifically related to strategies which hold derivatives and cash instruments as mentioned above
- Preparation of management reports and analysis to assist portfolio management and finance managers in managing and understanding the business
RESPONSIBILITIES AND QUALIFICATIONS
- Degree in Finance / Accounting, CPA or CFA preferred
- Experience in the financial markets and the investment management industry is preferred
- Requires an understanding of valuation methods for the types of securities and derivatives mentioned above (including, but not limited to interest rate swaps, variance swaps, inflation linked interest rate products, credit default swaps, total return swaps on emerging market debt, securities
- equities, MBS, ABS, emerging market debt, corporate bonds, investment grade bonds, high yield bonds, government bonds, etc.)
- Minimum of 5-7 years relevant work experience (public and / or private)
- Strong interpersonal (verbal and written communication) skills
- Ability to work in a team environment
- Strong analytical and organizational skills
- Ability to use initiative and work efficiently
- Strong knowledge of desktop applications (Excel, Word, Powerpoint)
- Knowledge of valuation models and functionality, including but not limited to Bloomberg
ABOUT GOLDMAN SACHS
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
© The Goldman Sachs Group, Inc., 2017. All rights reservedGoldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Vet.
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