The Ready to Margin (RTM) team facilitates the formation of margin relationships with clients from the point of initial negotiation until the enablement of successful exchange of margin, optimizing the client experience while complying with applicable regulations. The RTM team supports all derivative products across Goldman Sachs. The role involves close partnership and interaction with a wide range of areas, including Credit Risk Management, Legal and Compliance, Sales, Trading, Risk Management and other Operations Departments. Analysts will be expected to perform these functions as well as demonstrating innovation and a proactive approach, highlighting inefficiencies, risks and implementing improvements. In addition, the analyst will be expected to provide a high level of service to their clients.
JOB DUTIES: - Digitize Global Master Repurchase Agreement (GMRA), Master Security Forward Transaction Agreement (MSFTA), Global Master Security Lending Agreement (GMSLA) and select Credit Support Annex (CSA) documentation into Firm systems.
- Review and analyze Counterparty documentation against what is captured in the Legal and margining systems for accurate configuration, to reconcile and ensure information is flowing into downstream systems correctly.
- Ensure clients are set up to exchange collateral (fully ready to exchange margin) in a timely and efficient manner across multiple systems.
- Review and analyze International Swap Dealer Association Master Agreement (ISDA Master)/Credit Support Annex (CSA) and other Master/ Credit Support documentation in consultation with stakeholder groups; determine material clauses and identify key risks in documentation. Inform stakeholders on supportability and operational risks or limitations.
- Develop a comprehensive understanding of the Legal and margin workflow and systems.
- Liaise with Legal, Credit, Middle Office, Trading/ Sales/ Strategists, Corporate Treasury, Collateral, and other internal teams on issue identification, troubleshooting, and timely resolution.
- Review and understand upcoming regulations to properly assess the impact to the team and the firm.
- Work closely with Engineering teams to identify/ resolve system issues and implement system enhancements to increase efficiency in current processes. Work with Goldman Sachs change delivery and Engineering teams to implement recommendations.
- Identify potential risks in operational processes; develop and implement controls to mitigate risk.
- Work with counterparts in the global RTM team to design and produce reporting and metrics to detect regulatory compliance issues in system set ups.
SKILLS & EXPERIENCE WE’RE LOOKING FOR - Bachelor’s degree, with 1-3 years of relevant experience as below:
- Preferred - Ability to break down and fully understand documentation and parse into constituent components
- Attention to detail - goal of zero defect in work product
- Ability to work independently as well as be part of an interactive team
- Ability to multi-task and prioritize
- Strong control orientation
- Good problem solving skills/ judgment - including ability to identify issues that require escalation
- Excellent verbal and written communication - role requires a lot of interaction with internal clients as well as drafting process documentation
- Self-starter who will push themselves to learn
- Preferred Derivative documentation experience in either in Ops Documentation Teams (Drafting, Middle Office) or Derivative Legal Teams
- Preferred Familiarity with ISDA Masters Agreements and the relevant schedules along with NY and/ or UK law CSA’s
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.
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