Skip to main content

This job has expired

You will need to login before you can apply for a job.

Controllers Division, Commodities Product Control, Associate, London

Employer
Goldman Sachs
Location
London, United Kingdom
Salary
Competitive
Closing date
Mar 10, 2022

View more

Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
CONTROLLERS DIVISION
The mission of Controllers is to ensure that the firm meets the financial control and reporting obligations of a global, regulated and public financial institution. As part of the firm's second line of defence, Controllers provides the critical analysis required while ensuring the internal and external financial information of the firm is accurate. Additionally, Controllers serves an important role in safeguarding the assets of the firm through the independent scrutiny of financial information. Controllers engages regularly with the firm's regulators and auditors and through its strong culture of control and challenge helps to protect the firm from reputational and other risks.
DEPARTMENT OVERVIEW
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 a broad 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.
We operate a "complete ownership" model and see this as a "mini-CFO" role with regards to a trading desk, with responsibilities including [plus some of the team's controller liaise with]:
  • P&L reconciliation [liaising with Operation, 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.
RESPONSIBILITIES
The primary responsibilities of Product and Funding Controllers are to produce and analyse 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 Federation departments in a collaborative and problem-solving capacity.
  • To be fully informed of all department developments and issues in their trading areas.
QUALIFICATIONS & EXPERIENCE
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:
  • Experience within the Commodities sector is highly desirable; this could come from an audit perspective, in addition to experience within another bank or commodities trading house
  • 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/stakeholder

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

Sign in to create job alerts

Sign in or create an account to start creating job alerts and receive personalised job recommendations straight to your inbox.

Create alert