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Controllers, EMEA ICAAP and Regulatory Stress Testing, Associate/VP, London

Employer
Goldman Sachs
Location
London, United Kingdom
Salary
Competitive
Closing date
Jul 14, 2024

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Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
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.
EMEA ICAAP and Regulatory Stress Testing Team

The EMEA ICAAP and Regulatory Stress Testing team sits within the Regulatory Policy team in the Regulatory Controllers department within the EMEA Finance division. Regulatory Controllers are responsible for ensuring that Goldman Sachs UK and European regulated entities maintain adequate capital resources to meet their commitments and to withstand the risks to which the business is subject, e.g. Market Risk, Credit Risk and Operational Risk, and other risks as assessed in our ICAAPs. The ICAAP and Regulatory Stress Testing team is a specialist unit which concentrates on:
  • Coordination of the material EMEA entities Internal Capital Adequacy Assessment Process (ICAAPs)
  • Coordination of the EBA stress test and advisory support for regional EMEA entities ICAAPs
  • Analysis and advocacy on regulatory developments focusing on ICAAP and regulatory stress testing prudential regulations, whether from Basel, PRA or EU authorities.
  • Supporting the broader Regulatory Policy team in providing written interpretations, transaction analysis and updates and advice to stakeholders.
The Role

This is an exciting opportunity for a candidate to lead compliance with our prudential regulatory requirements. The role will include coordination of the UK entities' ICAAPs and driving continued enhancements to the process to ensure we hold adequate capital to mitigate the risks we are exposed to. The individual will liaise closely with stakeholders across the Firm including business areas, Risk, Legal Entity Controllers and Corporate Treasury. The role will also involve assessing new regulations that are relevant to the ICAAP and ensuring processes remains fully in line with regulatory requirements and expectations.
As a member of the Regulatory Controllers team the candidate will be expected to be involved in responsibilities beyond the ICAAP. This will include assessing regulatory change and being involved in developing the Firm's thinking and approach to implementing these evolving regulatory requirements.
This will include current and future policy analysis and advocacy focusing on Capital Resources, RWA and Leverage ratio policy issues.

Principal Responsibilities
ICAAP
  • Co-ordination of the UK ICAAPs covering the UK broker-deal, bank, asset manager and consolidated UK regulated group
  • Assessing the impact of regulatory developments that impact the ICAAP and implementing changes to processes where required
  • Developing and executing the project plan for the ICAAP and coordinating stakeholders to ensure delivery in line with the plan
  • Presenting to and providing secretarial support to the UK capital and stress test steering group
  • Production of the ICAAP documentation for submission to regulators
  • Advisory support to local teams in EMEA to support production of ICAAPs for GS regulated entities located outside of the UK and Germany
Advocacy
  • Analyse new regulatory change from Basel, UK and EU regulators including revisions to the capital requirements regulation and related requirements
  • Communicate and seek input on regulatory developments to/from internal stakeholders
  • Contribute to and help form the local and global advocacy approaches in conjunction with New York Policy Team and the Office of Government Affairs
  • Coordinate impact assessments of new regulatory updates and the impact on the firm
Interpretation
  • Provide written interpretations of EU and UK rules including new and revisions to a suite of policy documents
  • Liaise with wider stakeholders across business areas, Risk, Controllers, Legal and Technology to develop appropriate requirements, processes and solutions
  • Provide transactions advice and support to business areas on local and US rules in arriving at Return on Equity measures
  • Understanding and familiarity of other regulatory developments is encouraged, including liquidity requirements, stress testing and Pillar 1
Experience & Qualifications
  • Experience in ICAAP is essential
  • An accountancy qualification (ACA/CA/ACCA) is desired but not essential
  • Functional Expertise: an understanding of Regulatory Reporting, in particular both EU & UK Regulatory Reporting requirements is preferred but not essential
  • Regulatory knowledge: an understanding of the regulatory capital rules would be preferred including knowledge of IRB, VaR, Leverage Ratio, Basel 2 & 3 & 3.1, CRD IV, CRD V
  • Project management and organisational skills including taking ownership for key policy related change projects as well as managing a variety of stakeholders across the firm

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., 2023. All rights reserved.
Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity

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