Lead Specialist, OPS101316PHW
Duties: Lead Specialist with Goldman, Sachs & Co. in Salt Lake City, UT. Liaise with internal Private Wealth Management (PWM) representatives and teams within the Firm’s Operations division to address exceptions related to Financial Conduct Authority (FCA) and Financial Industry Regulatory Authority (FINRA) regulation and internal policy, address funding and liquidity issues for asset transfers, and participate in the change management process for system enhancements. Conduct manual review of high risk PWM asset transfer requests by performing funding calculation and gathering exception approvals. Monitor exceptions on PWM client accounts to identify net debit cash balances and short security positions due to trading and determine deadlines for regulatory extension filing with FINRA. Liaise with PWM sales to gather information required to file the extension and provide to Client Control team prior to the deadline. Prepare daily and monthly report to capture unsecured PWM client accounts (accounts holding negative balance in cash/security positions without sufficient offsetting positive market value), and liaise with PWM sales and other operational teams to identify steps to resolve. Provide report to senior management, detailing the cause of the unsecured accounts and propose solutions. Perform testing in the User Acceptance Testing (UAT) environment to certify new system logic or enhancements before migrating changes to the production environment. Respond to bi-monthly inquiry from the Regulatory Reporting group to confirm whether PWM client accounts hold true short positions that were created due to post-dated activity after reporting to FINRA. Participate in follow-up discussions with Regulatory Reporting and Compliance to gather additional information regarding the post-dated activity so Compliance can determine its validity and whether a revised report to FINRA is required. Prepare monthly report to identify Cash on Delivery (COD) accounts charged with option trading commissions. Coordinate with Commissions Receivable and PWM sales teams to ensure accounts are invoiced correctly and outstanding balance is collected by the invoice deadline.
Work Schedule: 40 hours per week (9:00 a.m. to 6:00 p.m.)
Job Requirements: Bachelor’s degree (U.S. or equivalent) in an analytical field including Liberal Arts. 3.5 years of experience in the job offered or in a related operations position. Prior work experience must include: Analyzing operational risks inherent in business processes and experience identifying, documenting and implementing procedural changes to improve processes and control infrastructure while seeking Straight-Through-Processing (STP) workflows; Project management skills including application enhancements experience which includes overall UAT (User Acceptance Testing), test script generation and coordination of testing with business stakeholders; Problem solving and analytical skills pertaining to exceptions management; Proficiency in Microsoft Excel and using functions such as VLOOKUP to minimize manual processes and efficiently manage risk; Utilizing knowledge of financial instruments including margin, options, various securities, and cash products; Managing multiple deadlines while maintaining a strong control focus and attention to detail, and communicating with stakeholders to set expectations if deadlines are at risk; Preparing and sending reports to senior managers to clearly explain necessary information that will assist them when making decisions.
QUALIFIED APPLICANTS: Apply at: https://careers.gs.com. Under ‘Experienced Professionals,’ click on ‘Apply Now.’ If New User, Click on ‘Register Now’. Upon completion, an email with a link will be sent to you. Click or paste link into browser and log-in. On Welcome screen, enter job code into “Keywords:” field and click on “Search”. Click on the job from the results to apply. Complete application tabs, then click ‘Submit’. If already registered, log-in and follow above instructions to submit an application. NO PHONE CALLS PLEASE.
Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Vet. © The Goldman Sachs Group, Inc., 2015. All rights reserved.
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