Asset & Wealth Management Operations-Portfolio Control Reconciliations-Dallas-Associate Dallas [...]

Goldman Sachs Bank AG; Dallas (TX); On-site; USD 140,000 - 160,000; Full time

Benefits offered by this job

Healthcare & Medical Insurance

Vacation policy

Financial Wellness & Retirement

Health Services

Fitness facilities

Child Care & Family Care

Benefits at Goldman Sachs

Job summary

Goldman Sachs in Dallas seeks a highly technical Portfolio Control Reconciliations professional to ensure accurate books for GSAM and risk counterparts. You will drive data integrity across equities, fixed income, currency and derivatives, partner with portfolio managers, and implement scalable processes to support onboarding, accounting and client reporting.

The role requires collaborating with internal teams and external custodians, solving tax lot and NAV discrepancies, and delivering robust

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 including fund accounting, tax lot accounting, and NAV.

Responsibilities

• Effectively execute and manage the daily processes and activities.
• Partner with portfolio managers and operations teams to ensure internal accounting 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 impacting tax lots, positions, cash, realized Gain-Loss, and client reporting.
• Analyze new accounting platform solutions to assess capabilities and system functionality for data integrity.
• 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 custodian and fund administrators to maximize value delivery.
• Develop knowledge of industry trends to facilitate business and enhance client experience.
• Mentor junior team members and build SME in derivatives, NAV, and reconciliation frameworks.
• Lead training on product lifecycle, accounting treatment, and reconciliation methodologies.

Skills

Analytical skills

Attention to detail

Problem solving

Independent work

Communication skills

Education

Bachelor's degree

Excellent academic record

Tools

FIS Investment Accounting Manager

Microsoft Excel

Job description

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 balance reporting , exception management and overseeing all aspects of operational risk across portfolios. 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

This is a highly technical role and as such requires ability to work effectively with a diverse group of professionals both internally and externally on wide variety of products and functions to solve for operational efficiency. The main areas of responsibility will be

• 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 meticulousattention 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
• 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.

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.

Healthcare & Medical Insurance

We offer a wide range of health and welfare programs that vary depending on office location. These generally include medical, dental, short-term disability, long-term disability, life, accidental death, labor accident and business travel accident insurance.

We offer competitive vacation policies based on employee level and office location. We promote time off from work to recharge by providing generous vacation entitlements and a minimum of three weeks expected vacation usage each year.

Financial Wellness & Retirement

We assist employees in saving and planning for retirement, offer financial support for higher education, and provide a number of benefits to help employees prepare for the unexpected. We offer live financial education and content on a variety of topics to address the spectrum of employees’ priorities.

Health Services

We offer a medical advocacy service for employees and family members facing critical health situations, and counseling and referral services through the Employee Assistance Program (EAP). We provide Global Medical, Security and Travel Assistance and a Workplace Ergonomics Program. We also offer state-of-the-art on-site health centers in certain offices.

Fitness

To encourage employees to live a healthy and active lifestyle, some of our offices feature on-site fitness centers. For eligible employees we typically reimburse fees paid for a fitness club membership or activity (up to a pre-approved amount).

Child Care & Family Care

We offer on-site child care centers that provide full-time and emergency back-up care, as well as mother and baby rooms and homework rooms. In every office, we provide advice and counseling services, expectant parent resources and transitional programs for parents returning from parental leave. Adoption, surrogacy, egg donation and egg retrieval stipends are also available.

Benefits at Goldman Sachs

Read more about the full suite of class-leading benefits our firm has to offer.