Controllers -Analyst/Associate - Product Control - CPVG - Frankfurt

Location(s) DE-Frankfurt
Job ID
2021-76378
Schedule Type
Full Time
Level
Associate
Function(s)
Finance
Region
EMEA
Division
Controllers
Business Unit
Global Markets Product Control
Employment Type
Employee

MORE ABOUT THIS JOB

FINANCE

 

We'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. 

 

Product Control and Funding Control is one of the largest departments within the Controllers group and supports the trading divisions across all asset classes: Fixed Income, Currencies and Commodities, and Equities. As a Product or Funding Controller you would be expected to become a key contact for the Federation and a broader set of stakeholders across the firm. Through this you would have the opportunity to develop a detailed understanding of Goldman Sachs businesses, products and sophisticated technology systems in depth. You will receive continuous training, both formal and informal, and the support of senior members of our team.

 

THE PRODUCT CONTROL MODEL AT GOLDMAN SACHS

  

We operate a "complete ownership" model and see this as a "mini-CFO" role with regards a trading desk, with responsibilities including [plus some of the teams controller liaise with]:

  • P&L reconciliation [liaising with Operations, Technology and Strats]
  • P&L explain [Traders, Strats, Market Risk]
  • New trade analysis [Traders and Strats]
  • Balance sheet review [Legal Entity Controllers]
  • Capital requirements for new trades and ongoing business [Regulatory Capital controllers, Market Risk Controllers, Credit Risk Controllers]
  • Price verification [Traders and Controllers PV group]
  • Federal reporting. [Fed reporting teams]
  • Financial Reporting disclosures [Accounting Policy, Legal Entity Controllers]
  • More generally being the point of contact within the Federation for a trading desk [Tax, Compliance, Legal, etc]

 

We believe that our model supports integrated thinking across the control processes listed above, which we see as critical to ensuring the connectivity of key control processes. Our clear ownership of the full P&L process also leverages our access and interaction levels with the business and other stakeholders as there is no uncertainty or ambiguity around roles. Our model, supported by our philosophy of scalable processing and exception-based workflow, has driven investment in strong, standardised P&L systems over the years. This allows us to run with smaller teams, improving people's connectivity and ability to span product classes, and allows for less time to be spent on manual reconciliations or data manipulation allowing more time for analysis and value-add work. Our efficient use of headcount also provides good access to senior management at early levels. It also means Product Control as a function is based on the same floor as Legal Entity Controllers, Regulatory controllers, Financial Reporting, Accounting policy, Treasury and Market Risk which encourages and facilitates collaboration and information/knowledge sharing across these areas.

 

The Controllers Pricing & Valuations Group (CPVG) is a specialised team within the Product Control department and is involved in all aspects relating to the price verification and valuation of the firm's inventory across all asset classes: Fixed Income, Currencies and Commodities, and Equities.

 

 

RESPONSIBILITIES AND QUALIFICATIONS

RESPONSIBILITIES

 

Collateral dispute analysis

  • Assist global product controllers and operations to investigate and analyse counterparty collateral disputes and to understand the implications for our own inventory of any pricing trends or anomalies identified.
  • Coordinate controllers responses globally to ensure timely review of collateral disputes

 

Client valuations review

  • Preparation of the monthly price testing of client valuations, review product controllers’ analyses and escalate any adjustments to global operations.
  • Produce summary reports to discuss with management across controllers and operations.

 

Price verification reporting

  • Preparation of monthly Price Verification packs summarising results across trading desks and entities.
  • Intelligently reviewing product controllers’ price verification work with the objective of highlighting anything unusual and discussing this with management.
  • Collating and assessing preliminary price verification results during month-end then reporting and explaining these results to senior management and the global CPVG teams.

 

Other

  • Responsibility for leading other periodic valuation reviews such as investigation of stale valuations and pricing of near to default securities.
  • Preparation of certain accounting and regulatory disclosure requirements, such as those relating to the firm's level 3 (or unobservable) inventory and prudent valuations.
  • Regular interaction with product controllers and their management to keep informed of any pricing related developments and issues within their trading areas.

 

 

RECOMMENDED SKILLS and QUALIFICATIONS

 

Our people come from a diverse set of backgrounds and experiences, if you're interested in working in the product control or funding controllers, you should be able to demonstrate the following:

  • Have a qualification as a Chartered Accountant, or other relevant professional financial qualification (e.g CFA). We will also consider part-qualified candidates currently on other bank ACA/or similar programmes.
  • That you are highly motivated, with commercial focus and strong analytical and communication skills.
  • You enjoy being challenged, are team orientated and have good attention to detail
  • You should have integrity, professional scepticism, a strong work ethic and a desire for excellence.
  • You have good interpersonal skills as complement to technical aptitude
  • A desire to learn and interest in financial markets and products

 

A track record of improving processes and adding value to clients/stakeholders

 

 

ABOUT GOLDMAN SACHS

ABOUT GOLDMAN SACHS


At Goldman Sachs, we commit our people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Founded in 1869, we are a leading global investment banking, securities and investment management firm. Headquartered in New York, we maintain offices around the world.

We believe who you are makes you better at what you do. We're committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally, from our training and development opportunities and firmwide networks to benefits, wellness and personal finance offerings and mindfulness programs. Learn more about our culture, benefits, and people at GS.com/careers.

We’re committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: https://www.goldmansachs.com/careers/footer/disability-statement.html



© The Goldman Sachs Group, Inc., 2021. All rights reserved.
Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity