Job Description
RISK
The Risk Division is a team of specialists charged with managing the firm’s credit, market, liquidity, operational and capital risk. 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.
Division/Business
Workout & Restructuring Team Overview
The Workout & Restructuring (W&R) team is a specialist group within Credit Risk (CR) that maintains primary responsibility (i) for managing the firm’s distressed and defaulted credit positions to maximize recoveries, and (ii) evaluating and structuring new transactions with distressed counterparties. Principal offices are in New York, Salt Lake City and London to ensure global coverage of the portfolio. All major industries are represented, including consumer and retail, natural resources, financial services, TMT and real estate. All major business lines are in scope, including Investment Banking, Asset Management Division, Global Markets and Private Wealth Management.
The Role & Responsibilities
Workout & Restructuring team members are generalists, and the successful candidate will have the opportunity to work on distressed restructurings/re-capitalizations across the capital structure in different geographies within EMEA/APAC and multiple industries.
In This Role You Will
- Conduct in depth counterparty credit analysis including review of industry fundamentals, financial strength, qualitative factors and likelihood of default
- Develop expertise in bankruptcy and distressed credit management. Participate in formulating workout strategies and approval discussions
- Work with senior credit/restructuring professionals, and in some cases take the lead, to determine the firm’s risk appetite and appropriate reserve level for distressed counterparties
- Develop a thorough understanding of key fundamentals of credit underwriting including financial modeling/projections
- Draft transaction memoranda, expressing and supporting Credit Risk’s recommendations
- Escalate issues to Credit Risk senior management
- Monitor the performance of counterparties in the distressed Watch List portfolio, including adherence to terms and covenants, and repayments
- Act as a mentor for junior analysts in the team. Develop and manage relationships with other areas of the firm, including Investment Banking/Capital Markets, Sales & Trading, Operations, Collateral Management, Legal, Compliance, Technology
Experience & Skills Required
- Minimum 3+ years of credit risk management experience (mainly in the non-investment grade space) with some experience in credit restructurings.
- Demonstrable track record of independent decision making as well as the ability to work collaboratively in team settings.
- Strong legal documentation (loan and/or derivatives), analytical, presentational and communication skills required.
- Ability to lead and motivate an engaged and diverse deal team, providing guidance to and supervision of junior members of the team.
- Ability to communicate with the senior levels within GS, both inside & outside of Credit risk.
The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout 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
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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.
