Operations - Risk & Control - VP - Bangalore
- Job id
- Full/Part Time
Job Summary & ResponsibilitiesWHO WE ARE
The Goldman Sachs Group is a financial holding company and a leading global investment banking, securities and investment management firm. Goldman Sachs provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals.
Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in other major financial centres around the world.
We are committed to growing our distinctive culture and upholding our core values which always place our client's interests first. These values are reflected in our Business Principles, which emphasise integrity, commitment to excellence, innovation and teamwork.
OVERVIEW OF OPERATIONS
Operations is a dynamic, multi-faceted division that partners with all areas of the firm to deliver banking, sales and trading and asset management capabilities to clients around the world. Alongside this vital service delivery role, Operations provides essential risk management and control, preserving and enhancing the firm’s assets and its reputation.
Operations span all product lines and markets, serving as internal business partners who develop the processes and controls, and help to specify the systems that deliver accuracy, timeliness and integrity to our business.
BUSINESS UNIT OVERVIEW
At Global Control, we provide senior management with critical control indicators to assess economic, regulatory, and operational risks associated with the operations areas that support the business units.
We help maintain the firm’s reputation and clients’ confidence by ensuring compliance with customer protection regulations as well as liaise with regulators and auditors during audit processes.
We help improve the efficiency and controls of securities, foreign exchanges, commodities, and futures businesses through independent reconciliations and oversight of trade and clearance processes.
Through the development, testing, and implementation of strategic technology and new business initiatives, we help ensure the adequacy of controls to mitigate financial, regulatory, and reputational risks for the firm.
The Audit Confirmation Team is responsible for responding to audit requests from Goldman Sachs clients and counterparties globally by providing month end statements to their auditors confirming security positions and cash balances for the purpose of an audit. The team is also responsible for the firm's adherence to SEC Rule 17a-13 and for facilitating responses to client audit confirmation requests. The SEC rule specifies that borrows/loans, fails to
deliver/receive, repurchase/reverse positions aged over 30 days must be verified with the counterparties (brokers/dealers, banks, and clients) once every quarter.
Brokerage, Clearance and Exchange
The firm deals in various financial products across most markets worldwide. The BC&E team manages the validation & allocation of the fees incurred for this trading, clearance & settlement. Currently fees for asset classes across Equities, Fixed Income and Derivatives are managed by the team in Bangalore. BC&E is a key focus area for the firm and the
team has regular interaction with the Trading Desks, Controllers, Business franchisee managers, Product Ops groups internally and brokers, Exchanges & Clearing houses externally. In addition, the BCE team also reconciles the monthly cost variances, tracks and addresses ad-hoc reporting queries from Business and Operations on fee trends, rate
negotiations, fee change impact, etc. The BC&E team is the subject matter expert for any BC&E fee charged and at the same time has the distinction of having the capabilities for cross product comparisons.
The Ledger Integrity Team is responsible for all inter-company and intra-company monitoring, reconciliations and reporting—which are used to facilitate business transactions between a GS company and its affiliates. The team is responsible for the overall integrity of the General ledger and Sub Ledger, ensuring that all supporting ledgers agree with the master ledgers. The ledger integrity team strives to accurately and effectively compare internal books and
records to external clearing agents such as BoNY, DTCC, NSCC and GSCC. We assess and report operational risks through the analysis of settlement and trade activity to allow the business to better manage their operations.
Some of the responsibilities of the manager may include:
• Set strategic and tactical goals for your team . Lead by example and set the tone for your organization
• Demonstrate ability to influence others across your area by understanding alternative views holistically and explaining your rationale in deciding upon a particular course of action
• Develop a strong, cross-trained team capable of adapting to unplanned absences and activity spikes
• Exhibit good working knowledge concerning relevant markets, products, processes, regulations and systems required to achieve business objectives
• Know your clients, understand their strategy, systems and infrastructure, needs and requirements
• Identify ways to reduce risk through process re-engineering, automation and levering best practices
• Building internal and external relationships to improve quality and productivity of work as well as integrating best practices as appropriate
• Representing department internally with other areas of Goldman Sachs and externally with regulators, clients and industry contacts
Basic Qualifications• Bachelor's degree required
• At least 5 years of work experience in Operations or related field
Preferred QualificationsDemonstrates excellent people, process and project management skills
• Possesses a strong understanding of related functions and processes across the department and / or division
• Demonstrates comprehensive understanding of job-related operational and compliance procedures
• Fully understands and appropriately addresses Goldman Sachs compliance and reputational judgement issues
• Capability to prioritise and make decisions in a fast paced environment
• Energetic team player, able to work well inside a group and broadly across an organisation
• Flexible individual, able to be innovative and creative in the approach
Goldman Sachs is an equal opportunity employer. © The Goldman Sachs Group, Inc., 2013. All rights reserved.