Job Description

THE PRODUCT CONTROL MODEL AT GOLDMAN SACHS
We operate a "complete ownership" model and see this as a "mini-CFO" role with regards 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]
• Financial Reporting disclosures [Accounting Policy, Legal Entity Controllers]

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
• Assessing risk inherent in trading positions, whether market, compliance or reputational risk etc
• Understanding of the impact of Regulatory Capital rules on a trading desk's ongoing and new business
• Account and monitor for the Firm's secured and unsecured financing activities
• Liaising with other Federation departments in a collaborative and problem-solving capacity

RECOMMENDED SKILLS and QUALIFICATIONS

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:

• 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
• Strongly familiar with development of business intelligence solutions to automate processes required
• Being able to create system testing scripts and work with Technology for system enhancement required
• Being able to work closely with other desks to streamline P&L processes required
• 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 skepticism, a strong work ethic and a desire for excellence
• You have good interpersonal skills as complement to technical aptitude
• Knowledge of Alteryx Designer and SQL will be an advantage
• A track record of improving processes and adding value to clients/stakeholder

Required Knowledge, Skills, and Abilities

• 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 • Strongly familiar with development of business intelligence solutions to automate processes required • Being able to create system testing scripts and work with Technology for system enhancement required • Being able to work closely with other desks to streamline P&L processes required • 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 skepticism, a strong work ethic and a desire for excellence • You have good interpersonal skills as complement to technical aptitude • Knowledge of Alteryx Designer and SQL will be an advantage • A track record of improving processes and adding value to clients/stakeholder