Operations - Banking, Investing, & Lending - Investment Banking - Analyst - Irving
The Finance and Control Group is responsible for the management of expense balances and fee recovery for the IBD Division globally. This role gives the opportunity to have a direct impact on the P&L of the division by influencing the amount of fees and expenses recovered. By challenging the bankers and using creative ways to investigate the balances you will have the opportunity to increase the amount of expenses recovered.
This role will also allow for exposure to senior members of the firm, so you will be using your communication and negotiation skills to drive a positive conversation. The role also requires close interaction with other business and Federation teams supporting Investment Banking, including IBD Finance, Controllers, broader Banking Investing and Lending teams, and Technology.
You will also be using your risk mitigation and problem solving skills to create innovative solutions to bottlenecks and system issues the team face.
Operations is a dynamic, multi-faceted division that partners with all parts of the firm to deliver banking, sales and trading, and asset management capabilities to clients around the world. In addition, Operations provides essential risk management and control to preserve and enhance the firm’s assets and its reputation. For every trade agreed, every new product launched, every new market entered, or every transaction completed, it is Operations that develops the processes and controls that make business flow.
The Finance & Control Team is responsible for the proper recognition of IBD advisory fees, billing of expenses, settlement of financings, and overall maintenance of the expense balance sheet to create maximum recovery for the division’s bottom line. The individual will be afforded the opportunity to partner with banking to ensure timely and accurate billing for advisory services rendered, which involves drafting invoices to the client for both fees and reimbursement of expenses in accordance with terms outlined in engagement letters. In addition, the team monitors the balance sheet of deal-related expenses to promote recoverability, and seeks to reduce P&L exposure by reserving for losses related to non-recoverable expenses.
HOW YOU WILL FULFILL YOUR POTENTIAL
- Liaise with IBD Bankers, Industry CFOs, Business Unit Leaders and Business Unit Managers to determine the correct disposition of balances
- Review advisory related transactions at all stages in the lifecycle to determine recoverability of transaction costs
- Work with IBD bankers to settle financing related expenses with other syndicate banks
- Prepare Client and Co-Managed Invoices and Expense Runs
- Follow up on Aged Receivables
- Obtain approvals and process write-offs for non-recoverable expenses
- Work closely with Controllers to ensure fees are accurately reflected on the firm’s books and records
- Reconcile breaks in the firm’s syndicate sub ledger and general ledger, as well as breaks within IBD system flows
- Monitor the opening and closing of both IBD and non-IBD syndicate accounts
- Post month end IBD receivable balances and reserves to the general ledger
- Continuous Improvement of expense management processes both tactical and strategic
- Close involvement with technology on the design and testing of system improvements
SKILLS & EXPERIENCE WE’RE LOOKING FOR
Basic Qualifications•Bachelor degree required
- Ability to effectively and extensively interact with all levels (from entry level analysts through managing directors)
- Ability to work in a deadline driven environment
- Strong communication, presentation, and relationship management skills
- Extreme attention to detail and organizational skills
- Risk and control awareness and experience of taking responsibility both locally and globally.
- Self-starter (i.e. after initial managerial direction, candidate is able to develop their own workflow and manage resources accordingly)
- Proven process re-engineering skills
- Effective analytical ability
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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