Vice President with Goldman Sachs & Co. LLC in Jersey City, NJ.
Work Schedule: 40 hours per week (9:00 a.m. to 6:00 p.m.)
Duties: Vice President with Goldman Sachs & Co. LLC in Jersey City, NJ. Responsible for serving as a day-to-day operational contact for clients that clear futures positions with Goldman Sachs, serving as the relationship manager for clients' daily inquiries regarding margin, trade breaks or commission disputes, and serving as the day-to-day escalation contact for the team for both external clients and internal stakeholders. Function on a team that partners with all parts of the Firm to deliver banking, sales and trading and asset management capabilities and provide essential risk management and control to preserve and enhance the Firm's assets and its reputation. Utilize project management and operational management skills to identify areas for improvement to reduce risk, increase operational efficiencies, and provide better client experiences, while working with multiple teams across the Firm including technology teams on solutions implementation. Fully understand margin concepts, calculation methodology, and exchange margin rules and on futures, options, and derivatives clearing products. Coordinate with technology and operations teams to ensure clients are meeting their margin calls in a timely fashion, and resolve margin issues with client urgently, if any. Understand client’s reconciliations process and be responsible for communicating any unallocated trades or trade breaks to clients. Coordinate discussions with the Firm's Sales, Trading, Operations and Technology groups to devise solutions to resolve trade booking issues whenever they arise, and ensure where possible all trades are correctly allocated on T+0 and trade breaks are resolved at the earliest. Be familiar with various fees and commission concepts. Responsible for locating where commissions or fees exceptions arise, concluding root causes for such exceptions, communicating issues to clients, and ensuring timely resolution of such exceptions. Be familiar with various execution methods, requirement, and downstream flow to clearing and book and records. Provide client professional advice regarding executing and clearing workflow to achieve accuracy and efficiency, assist with building and testing allocation flow, and resolve workflow exceptions with client, clearing, and technology teams timely. Responsible for day-to-day clearing of global markets and supporting clearing of proprietary execution. Handle client queries related to global exchange platforms execution, manage the setup of client exchange trading limits, and coordinate product updates and broker updates on client profile. Fully understand the concept of futures, options, and listed derivatives products, as well as the role such contracts played in today’s financial market. Understand financial regulations and exchange rules, monitor regulatory reporting and alerts, and coordinate with client, sales, trading, compliance and clearing teams to ensure client’s execution and clearing meets the regulations and exchange requirements. Manage client’s and 3rd party relations’ access to GS portal, guard client confidentiality by ‘knowing your client’ rules and following Firm procedures. Responsible for setting up necessary reporting from GS portal for client’s needs, and providing maintenance for such reports per clients’ ad hoc requests. Coordinate with client and tax team to ensure client accounts are properly documented and resolve any tax withholding issues timely. Fully understand futures and options contract specs and be responsible for managing futures and position transfers, options expiration on global futures markets, and physical delivery facilitation. Lead query facilitation and resolution on all exchanges as well as front office relationship management.
Job Requirements: Bachelor’s degree (U.S. or equivalent) in an analytical field, such as Finance, Business Administration or related field. Employer will accept any suitable combination of education, professional experience, or credentials as deemed equivalent to a U.S. Bachelor’s degree by a qualified education equivalency agency. Five (5) years of experience in the job offered or in a related financial operations role within the financial services industry. Must have five (5) years of experience with: Utilizing knowledge of global futures markets to respond to client inquiries on margin, trade breaks or commissions; Clearing trade flows for global futures markets; Demonstrating understanding of nuances and risks involved in physically deliverable futures contracts; Performing day to day query resolution from clients and stakeholders; Conducting root cause analysis, process improvement analysis, and strategic resolution of re-occurring problems and driving business process re-engineering; Identifying risks and inefficiencies inherent in daily business process and driving initiatives to design controls to mitigate risk while seeking Straight-Through-Processing (STP) workflows; Applying knowledge of settlement processes to research and resolve outstanding client fails including activities and transactions clearing in local markets globally; Managing projects, applying principles of project scope definition, project issues, challenges, risks definition, and status reporting, while demonstrating organizational acumen and client service expertise; Recruiting and managing the career development and performance of junior team members; and Relationship Management including assisting stakeholders in the support and advancement of the execution of global business strategies, enhancing the overall client experience and providing best in class client service.
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.
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