Controllers, Equity Product Controller, Frankfurt - Analyst/ Associate

Controllers, Equity Product Controller, Frankfurt - Analyst/ AssociateFrankfurt, Hessen, Germany

CONTROLLERS

Controllers ensure that the firm meets all the financial control and reporting obligations of a global, regulated, and public financial institution. Our professionals measure the profitability of, and risks associated with, every aspect of the firm's business. Controllers also ensure that the firm's activities are conducted in compliance with the regulations governing transactions in the financial markets.

OUR IMPACT

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 business is ideal for collaborative individuals who have strong ethics and attention to detail.

BUSINESS UNIT

The Controllers group is responsible for safeguarding the firm's assets: to help maintain the integrity of Goldman Sachs' finances and expenditures. Through careful consideration and analyses of firm finances, objectives and strategies, we ensure that the firm's businesses continue to be profitable and efficiently run. Controllers also ensure that all business practices are in compliance with financial and regulatory requirements worldwide. Since contact with virtually every part of the firm is essential to Controllers, professionals in the department experience Goldman Sachs businesses, products, and sophisticated technology systems in depth. Direct Hedge Funds, Hedge Funds Strategies, Private Equity Group teams within Controllers support the alternative investments within Goldman Sachs Asset Management division with oversight over complex private funds.

Product 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 Controller you would be expected to become for key contact for other firm risk and control disciplines as well as broader 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 and Market Conformity checks [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 Firm’s risk and control disciplines for a specific 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, standardized 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.

RESPONSIBILITIES

The primary responsibilities of Product Controllers are to produce and analyze the daily trading activities, to report the trading divisions' profits and losses and to verify the values of positions held by the trading desks, both securities and derivative. This role requires extensive liaison with the trading desks, the Risk Management Group and the Operations Teams, as well as with colleagues in Controllers. Product Controllers are expected to develop a good understanding of the products they monitor and of the strategies used by the trading desk to generate revenue for Goldman Sachs. The function has become increasingly technical in content and offers a challenging and interesting role, which would suit dynamic, bright and ambitious individuals with a drive to succeed.

Preparing the daily profit and loss account for trading desks, involving an assessment of the nature of revenue generated in the context of market moves and risk held as well as reconciliation between front office systems and sub-ledger as well as the firm's general ledger.
Producing and reviewing profit and loss attribution and commentary for the bank's trading, investing and new issuance businesses. - Intelligently reviewing trading activity to help assess the valuation of the portfolio and to highlight anything unusual or material to management.
Monthly price verification review and challenge of trader inputs into inventory pricing as well as incremental assessment of less observable inputs.
To interact effectively and pro-actively with traders and their management.
Assessing risk inherent in trading positions, whether market, compliance or reputational risk etc.
Developing an in depth knowledge of products and market awareness.
Understanding of the impact of Regulatory Capital rules on a trading desk's ongoing and new business.
Ensuring compliance with all the Firm's financial reporting requirements.
Account and monitor for the Firm's secured and unsecured financing activities.
Liaising with other risk and control disciplines in a collaborative and problem-solving capacity.
To be fully informed of all department developments and issues in 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:

ACCA qualified or equivalent preferable, however flexibility around this in the context of relevant experience.
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 skepticism, 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

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

Please note that our firm has adopted a COVID-19 vaccination requirement for employees who work onsite at any of our U.S. locations to safeguard the health and well-being of all our employees and others who enter our U.S. offices. This role requires the employee to be able to work on-site. As a condition of employment, employees working on-site at any of our U.S. locations are required to be fully vaccinated for COVID-19, and to have either had COVID-19 or received a booster dose if eligible under Centers for Disease Prevention and Control (CDC) guidance, unless prohibited by applicable federal, state, or local law.

Applicants who wish to request for a medical or religious accommodation, or any other accommodation required under applicable law, can do so later in the process. Please note that accommodations are not guaranteed and are decided on a case by case basis.

Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity