Job Description
OUR IMPACT
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.
The Regulatory Policy team sits as a specialist unit within the Controllers department within the Finance division. Regulatory Controllers are responsible for ensuring that Goldman Sachs EMEA 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 Regulatory Policy team analyses and advocates on regulatory developments focusing on UK, EU and other prudential regulations, including Basel, the PRA, and the ECB,
The team also focuses on existing regulatory capital rules providing written interpretations, transaction analysis and updates and advice to stakeholders. The team is also responsible for stress-testing and ICAAPs for EMEA entities. The role will provide you with the opportunity to gain broad exposure to all these areas, the range of activities of Goldman Sachs divisions operating in the region and to build close relationships with these businesses and other key functions such as Risk, Legal and Government Affairs.
YOUR IMPACT
The current vacancy is for an EMEA Associate candidate within the Regulatory Policy team whose role will include current and future policy analysis focusing on a range of prudential topics such as Capital Resources, RWAs, Large Exposures and Leverage Ratio policy issues as well as rules related to stress-testing and ICAAP processes. The individual will assess the regulatory requirements related to these areas and liaise with various teams, such as Controllers, business areas, Risk, Legal, and Government Affairs to ensure appropriate interpretation, governance and implementation of rules and manage the related regulatory change. It will also involve working with the US teams involved in similar policy roles at the GS Group level.
Key Responsibilities Include
Interpretation
- Provide written interpretations of UK, EU and South Africa rules including new rules and revisions to a suite of policy documents
- Liaise with wider stakeholders across teams to develop appropriate requirements, processes and solutions
- Understanding and familiarity of other regulatory developments is encouraged, including liquidity requirements, stress testing, ICAAP and derivatives market regulation (e.g. EMIR and MIFID), although these areas are not the direct responsibility of the team
Advocacy
- Analyse new regulatory change from EMEA regulators including revisions to the Capital Requirements Regulation and related requirements from Basel, PRA, Bank of England, European Commission, EBA and ECB
- Communicate and seek input on regulatory developments to/from internal stakeholders
- Coordinate impact assessments of new regulatory updates on the firm This role provides an exciting opportunity to participate in an important area of regulatory change and be involved in developing the firm’s thinking and approach to implementing these evolving regulatory requirements.
Basic Qualifications / Skills
- Educated to degree level
- Relevant experience within bank, industry or regulatory bodies
- Knowledge and experience of the banking sector, including a strong understanding of prudential risk and / or capital management processes and procedures
Preferred Qualifications /Skills
- Regulatory knowledge – in-depth understanding of the regulatory capital rules would be preferred but not essential, including knowledge of Basel, CRR, and Leverage Ratio. Understanding of Regulatory Reporting, in particular UK & EU, is also desirable
- Project Management - project management and organisational skills including managing projects, change and stakeholders
- Effective Communicator - is able to communicate effectively, both orally and in writing, to a broad range of people both across the firm and externally at various levels of seniority. Shares information/new ideas with others
- Proactive - takes ownership of issues and provides constant high-quality feedback. Takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
- Analytical - pays attention to detail, and demonstrates an ability to digest complex technical regulatory papers and extract pertinent issues
- Team player - is a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions
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
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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.
