Operations - Liquidity & Collateral - Margin, Collateral & Valuations - Collateral Management - VP - Salt Lake City
MORE ABOUT THIS JOB
A Vice President within Collateral Management will primarily be focused on the mitigation of counterparty credit risk and adherence to regulatory margin rules through the oversight of a number of operational processes. Vice Presidents will be expected to oversee these functions as well as demonstrating innovation and a proactive approach, highlighting inefficiencies, risks and implementing improvements. In addition, the Vice President will be expected to provide a high level of service to their clients.
The role will involve close partnership and interaction with a wide range of areas, including Credit Risk Management, Legal and Compliance, Sales, Trading, Risk Management and other Operations Departments. As a result the successful candidate will be required to possess strong communication skills.
We promote cross training and ensure our Vice Presidents develop a broad level of understanding across the varied departmental functions carried out. You can expect to be given early responsibilities and in return you will be expected to contribute your own ideas to make a difference and add value to the group.
Operations is a dynamic, multi-faceted division that partners with all parts of the firm to provide banking, securities, and asset management services to clients around the world. In addition, Operations provides essential risk management and controls to preserve and enhance the firm's assets and its reputation. For every new product launched and every trade executed, it is Operations that develops and manages the processes and controls that enable business flow.
Collateral Management, part of Margin, Collateral & Valuations Operations (MCVO) sits within the Goldman Sachs Liquidity and Collateral Operations organization. A global, multi-faceted and cross product function, the primary objective of the department is the mitigation of counterparty credit risk through the active monitoring of clients' derivative and securities financing portfolios. Collateral Management is currently 120+ staff strong in globally, with regions in Salt Lake City, Jersey City, London, Warsaw, Bengaluru and Singapore working closely together.
The team has a rare opportunity to support products and business ranging from foreign exchange, commodities, credit, Equity, Interest Rates, Repo, and bespoke structured derivatives and arrangements. The team manages a wide range of complex processes, with members developing skills and competencies around derivative & security products and their respective business areas, legal agreements, technology flows and regulations.
HOW YOU WILL FULFILL YOUR POTENTIAL
RESPONSIBILITIES AND QUALIFICATIONS
Daily oversight includes, but is not limited to:
- Daily monitoring of client portfolios, issuing & receiving collateral calls to ensure the firm's credit risk is mitigated
- Resolution and escalation of all client disputes and queries
- Daily oversight of 5 to 7 staff (Associates and Analysts)
- New client on-boarding
- Liaison with internal groups (Credit, Sales, Trading, Middle office, Legal, Front Office, Settlements, and Corporate Treasury) to resolve collateral issues
- Collateral Optimization
- Problem and break resolution
- Performing a number of control functions, ensuring the integrity of our processes
In addition to their core responsibilities, Vice Presidents are also expected and encouraged to lead a number of projects and initiatives.
Collateral Management and MCVO provide Vice Presidents with the unique opportunity to interact with a wide range of internal stake-holders, developing extensive networks and as a result, a generally broader understanding of the range of products traded and structured by the firm. This is primarily due to the cross product nature of the department and varied functions and processes from derivative valuations, system flows and interfaces, legal and regulatory requirements, through to custody, settlement and risk management. Also the daily interaction with clients will enable the Vice President to further develop their client service skills.
SKILLS AND EXPERIENCE WE ARE LOOKING FOR
- Strong numerical, analytical and problem solving skills. The role is client facing so the Vice President will require strong communication skills and should be highly articulate
- Work experience in a financial firm or similar for a minimum of 8 years with people management experience
- Degree educated, preferably in a numerical major. Post Graduate qualifications also preferable
- Evidence of experience working within Financial Services with exposure to over the counter derivatives
- Languages will be beneficial as the Vice President will be interacting with clients from across regions
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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