IBD, Financing Group, Bank Debt Portfolio Group, Letter of Credit Team, New York or Salt Lake City, Analyst/Associate

Location(s) US-NY-New York | US-UT-Salt Lake City
Job ID
Schedule Type
Full Time
Analyst, Associate
Investment Banking
Investment Banking Division
Business Unit
Debt Underwriting Group
Employment Type



Our division works on some of the most complex financial challenges and transactions in the market today. Whether advising on a merger, providing financial solutions for an acquisition, or structuring an initial public offering, we handle projects that help clients at major milestones. We work with corporations, pension funds, financial sponsors, and governments and are team of strong analytical thinkers, who have a passion for producing out-of-the-box ideas.


High Level Overview


  • Hybrid role to provide ongoing management of non-investment grade loans arranged and/or agented by Goldman Sachs (“Bank Debt Portfolio Group” or “BDPG”) and support the growing Letter of Credit business (“LOC Team”) by playing the front office role for transactions involving Letters of Credit
  • BDPG presents a unique opportunity to work with a variety of different clients and with many groups within Goldman Sachs and sits within the Investment Banking Division.  Responsibilities include (i) managing the client relationship, (ii)structuring and executing waivers, amendments, incrementals or extensions on behalf of Borrowers,(iii) managing the lender syndicate by fielding Borrower/industry questions, arranging lender meetings, etc., (iv) identifying new business opportunities (refinancings, derivatives, etc.) and (v) supporting sales & trading activity 
  • The LOC team works largely with clients, GS Investment Banking teams and legal teams alongside GS Bank Management to structure LOC terms, facilitate deal closings and provide ongoing client coverage to portfolio companies


Job Summary and Responsibilities


LOC Team Overview:

  • Act as centralized product expert to ensure unified / consistent offering of Standby Letter of Credit product to clients
  • Manage transactional aspects of negotiating L/C facilities across various teams within the Leveraged Finance group and broader Investment Banking division
  • Review and negotiate credit agreements, reimbursement agreements, and amendment documentation, as it relates to letters of credit
  • Manage negotiation of individual letters of credit, including working with beneficiaries, lawyers, borrowers / applicants to ensure flawless execution in line with internal policies
  • Lead internal approval and execution process including: reviewing business selection, ensuring requisite committee and credit approvals, engaging external counsel
  • Perform ongoing portfolio management; assist with amendments and extensions to L/C facilities; coordinate L/C draws
  • Analyze and interpret terms and conditions of L/C to ensure compliance with government regulations, as well as guidelines and internal procedures
  • Provide superior client service to all clients, ensuring that transactions are structured accurately in accordance with established credit guidelines and Bank policies
  • Build product awareness around the firm including clear communication of GS’ capabilities and internal approval requirements


Bank Debt Portfolio Group Overview:


  • Manage relationships with company management, private equity sponsors and lenders (banks, institutional investors, hedge funds, etc.)
  • Review and analyze portfolio company performance and conduct credit analysis. Coordinate and dialogue with bank loan sales and trading and bank loan investors about company performance and amendment requests
  • Structure and execute amendments, waivers, forbearances and loan extensions (process involves marketing with investors, creating rating agency presentations, lender presentations, internal sales memorandums; assisting internal and external legal counsel with documentation)
  • Work with various other teams within Goldman Sachs to deliver multi-pronged strategic and financing solutions for clients
  • Manage workouts and restructurings of distressed portfolio companies along with Credit



Basic Qualifications

  • Excellent interpersonal and communication skills; the ability to clearly articulate ideas
  • Strong financial, analytical and organizational skills
  • Highly motivated and adaptable; the ability to work on a team of diverse individuals
  • Proactive; the ability to respond creatively and quickly in a fast-paced, high-pressure, changing environment
  • Accurate and detail-oriented with sound judgment and integrity
  • Keen interest in financial markets, specifically in leveraged finance and accounting



The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

© The Goldman Sachs Group, Inc., 2018. All rights reserved Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Vet.