Asset & Wealth Management Operations-Portfolio Control Reconciliations-Dallas-Associate

Goldman Sachs; Dallas (TX); On-site; USD 110,000 - 150,000; Full time

Job summary

Goldman Sachs Asset Management seeks a Portfolio Control Reconciliations professional within Investing Operations to ensure accurate positions, cash, and NAV across client accounts, covering equities, fixed income, and derivatives. The role involves active collaboration with portfolio managers and operations teams to maintain flawless records and reporting.

You will investigate differences, mentor junior staff, and drive process improvements while leveraging advanced Excel and portfolio

Qualifications

• Relevant bachelor’s degree with an excellent academic record.
• 4+ years of experience in Operations and/or Financial Services Industry, preferably in Asset management.
• Strong understanding of accounting principles and theories including fund accounting, Tax lot accounting, and Net Asset Values.
• Extensive understanding of the product lifecycle (Equity, Fixed Income, and other similar financial products).
• Familiarity with FIS Investment Accounting Manager (Invest One) or any other portfolio accounting systems.
• Strong analytical skills, critical thinking, problem solving, and able to recommend long term solutions.
• Excellence in risk management and meticulous attention to detail with a sense of urgency / deliver tight deadlines.
• Ability to work independently, multitask and adapt in a fast paced environment to deliver results.
• Excellent communication (both written & spoken).
• Experience working across multiple business areas and/or functions to deliver results.
• Advanced skills in Microsoft Excel, Word, PowerPoint, and ability to present to senior management.

Responsibilities

• Effectively execute and manage the daily processes and activities.
• Partner with portfolio managers and Operation teams to ensure internal accounting reflects accurate positions, cash, realized gains/loss, and NAV for client accounts.
• Investigate differences in accounting and tax lots with custodians / sponsors and manage exceptions.
• Work closely with functional teams to resolve issues impacting tax lots, positions, cash, gains/loss, and client reporting.
• Analyze new accounting platform solutions to assess capabilities and system functionality.
• Identify efficiencies and areas for improvement within operations to mitigate risk and drive scale.
• Create, maintain and review accounting standards to meet business needs.
• Develop thorough knowledge of accounting across division.
• Oversee custodians and fund administrators to maximize value delivery.
• Develop knowledge of industry trends and competitive landscape to facilitate business.
• Mentor junior team members and build subject matter expertise in derivatives, NAV, and reconciliation frameworks.
• Lead training initiatives on product lifecycle, accounting treatment, and reconciliation methodologies.

Skills

Analytical skills

Communication skills

Problem solving

Multitasking

Education

Bachelor's degree

Tools

Invest One (FIS)

Job description

Job Description

At Goldman Sachs, we connect people, capital and ideas to help solve problems for our clients. We are a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. For us, it’s all about bringing together people who are curious, collaborative and have the drive to make things possible for our clients and communities.

Job Description

At Goldman Sachs, we connect people, capital and ideas to help solve problems for our clients. We are a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. For us, it’s all about bringing together people who are curious, collaborative and have the drive to make things possible for our clients and communities.

The Asset & Wealth Management space is made up of Goldman Sachs Asset Management (GSAM) and Goldman Sachs’ Merchant Bank which brings together Goldman Sachs’ primary long term principal investing capabilities with the traditional money managing arm of the firm to offer a full suite of world-class investment solutions to the firm’s clients.A career with Goldman Sachs Asset Management is an opportunity to help clients across the globe realize their potential, while you discover your own. As part of one of the world's leading asset managers with over $2 trillion in assets under supervision, you can expect to participate in exciting investment opportunities while collaborating with talented colleagues from all asset classes and regions and building meaningful relationships with your clients. Working in a culture that values integrity and transparency, you will be part of a diverse team that is passionate about our craft, our clients, and building sustainable success. Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long term performance. As primary investment area within Goldman Sachs, we provide investment and advisory services for pension plans, sovereign wealth funds, insurance companies, endowments, foundations, financial advisors, and individuals.

Job Summary & Responsibilities

Portfolio Control Reconciliations sits within Investing Operations and has primary responsibility of ensuring accuracy of GSAM’s and Risk counterpart’s books of accounting. By ensuring accuracy and timeliness of data, we facilitate the business in achieving desired objectives for all aspects of account onboarding, portfolio accounting, cash management, client reporting. These functions cover a wide range of clients and a complex product range, which include equities, fixed income, currency, and derivatives. The group supports portfolio managers, sales, and client relationship professionals by providing accurate/timely position, cash, realized Gain-Loss and NAV for client accounts. This involves extensive interaction with internal and external parties to ensure effective oversight for existing business and also to shape and implement solutions for new clients, GS’s own funds, products, strategies, and system architecture. The group continues to focus on best in-class client experience and working closely with the business to maintain and enhance client relationships. You will obtain a comprehensive knowledge of products, markets, and market related setups. You will also drive initiatives and provide solutions that will have an impact on client experience, regulatory requirements, and risk mitigation.

Responsibilities And Qualifications

• Effectively execute and manage the daily processes and activities.
• Partner with portfolio managers and Operation teams (Asset Servicing, Data and pricing, Controllers, Services, Client onboarding and Reporting) to make sure internal accounting system reflects accurate positions, cash, realized Gain-Loss and NAV for client accounts
• Investigate differences in accounting and tax lots with custodians / sponsors and manage exceptions
• Work closely with functional teams to resolve issues which direct impact on tax lots, positions, cash, realized Gain-Loss, portfolio manager trading, and After-tax performance of client’s report
• Analyzing new accounting platform solutions to assess accounting capabilities and system functionality to ensure data integrity and accuracy
• Identifying efficiencies and areas for improvement within operations for accounting to mitigate risk, reduce manual efforts, and drive scale
• Creating, maintaining and reviewing accounting standards to manage the business needs
• Developing a thorough knowledge of accounting across division
• Coverage and oversight of custodian and fund administrators to maximize potential value delivery across the firm
• Develop knowledge of industry trends, competitive landscape and capabilities to facilitate business, increase efficiencies, improve controls and enhance client experience
• Mentor junior team members and build subject matter expertise in derivatives, NAV, and reconciliation frameworks
• Lead training initiatives on product lifecycle, accounting treatment, and reconciliation methodologies

Preferred Qualifications

• Relevant bachelor’s degree with an excellent academic record
• 4+ years of experience in Operations and/or Financial Services Industry, preferably in Asset management
• Strong understanding of the theoretical and technical nature of accounting principles and theories including fund accounting, Tax lot accounting, and Net Asset Values
• Extensive understanding of the product lifecycle (Equity, Fixed Income, and other similar financial products)
• Familiarity with FIS Investment Accounting Manager (formerly Invest One) or any other portfolio accounting systems
• Strong analytical skills, critical thinking, problem solving, and able to recommend long term solutions
• Excellence in risk management and meticulous attention to detail with a sense of urgency / deliver tight deadlines
• Ability to work independently, multitask and adapt in a fast paced environment to deliver results
• Excellent communication (both written & spoken)
• Experience working across multiple business areas and/or functions to deliver results
• Advanced skills in Microsoft Excel, Word, PowerPoint, and ability to present to senior management

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. Goldman Sachs is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, national origin, age, veterans status, disability, or any other characteristic protected by applicable law.