The Goldman Sachs Group, Inc

Asset & Wealth Management Operations-Portfolio Control Reconciliations-Dallas-Associate

The Goldman Sachs Group, Inc • $80K — $95K *
Dallas, TX 75217In-Person
Finance & Insurance
Less than 5 years of experience
Today
Be an Early Applicant
Job Overview by Ladders

Qualifications

  • Relevant bachelor's degree and excellent academic record
  • 4+ years of experience in Operations and/or Financial Services, ideally Asset Management
  • Strong grasp of accounting principles including fund and tax lot accounting
  • In-depth understanding of product lifecycle for financial products such as Equity and Fixed Income
  • Familiarity with portfolio accounting systems like FIS Investment Accounting Manager
  • Advanced analytical and problem-solving skills
  • Meticulous attention to detail with a strong sense of urgency

Responsibilities

  • Execute and manage daily reconciliation processes effectively
  • Collaborate with portfolio managers and operational teams to ensure accurate internal accounting
  • Investigate and reconcile discrepancies with custodians and sponsors
  • Resolve operational issues impacting client account metrics like cash and performance
  • Analyze new accounting platform solutions for data integrity
  • Identify operational efficiencies and improvement areas to mitigate risk
  • Mentor junior team members and lead training on accounting and reconciliation

Benefits

  • Opportunity to work with industry-leading professionals
  • Access to a wide range of investment opportunities
  • Focus on long-term performance and client relationships
  • Culturally diverse team environment that values integrity
  • Career development and mentorship programs
Full Job Description
Job Description

The Asset & Wealth Management space is made up of Goldman Sachs Asset Management (GSAM) and Goldman Sachs' Merchant Bank which brings together Goldman Sachs' primary long term principal investing capabilities with the traditional money managing arm of the firm to offer a full suite of world-class investment solutions to the firm's clients.A career with Goldman Sachs Asset Management is an opportunity to help clients across the globe realize their potential, while you discover your own. As part of one of the world's leading asset managers with over $2 trillion in assets under supervision, you can expect to participate in exciting investment opportunities while collaborating with talented colleagues from all asset classes and regions and building meaningful relationships with your clients. Working in a culture that values integrity and transparency, you will be part of a diverse team that is passionate about our craft, our clients, and building sustainable success. Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As primary investment area within Goldman Sachs, we provide investment and advisory services for pension plans, sovereign wealth funds, insurance companies, endowments, foundations, financial advisors, and individuals.

Job Summary & Responsibilities

Portfolio Control Reconciliations sits within Investing Operations and has primary responsibility of ensuring accuracy of GSAM's and Risk counterpart's books of accounting. By ensuring accuracy and timeliness of data, we facilitate the business in achieving desired objectives for all aspects of account onboarding, portfolio accounting, cash management, client reporting. These functions cover a wide range of clients and a complex product range, which include equities, fixed income, currency, and derivatives. The group supports portfolio managers, sales, and client relationship professionals by providing accurate/timely position, cash balance reporting , exception management and overseeing all aspects of operational risk across portfolios. This involves extensive interaction with internal and external parties to ensure effective oversight for existing business and also to shape and implement solutions for new clients, GS's own funds, products, strategies, and system architecture. The group continues to focus on best in-class client experience and working closely with the business to maintain and enhance client relationships. You will obtain a comprehensive knowledge of products, markets, and market related setups. You will also drive initiatives and provide solutions that will have an impact on client experience, regulatory requirements, and risk mitigation.

Responsibilities and Qualifications

This is a highly technical role and as such requires ability to work effectively with a diverse group of professionals both internally and externally on wide variety of products and functions to solve for operational efficiency. The main areas of responsibility will be
  • Effectively execute and manage the daily processes and activities.
  • Partner with portfolio managers and Operation teams (Asset Servicing, Data and pricing, Controllers, Services, Client onboarding and Reporting) to make sure internal accounting system reflects accurate positions, cash, realized Gain-Loss and NAV for client accounts
  • Investigate differences in accounting and tax lots with custodians / sponsors and manage exceptions
  • Work closely with functional teams to resolve issues which direct impact on tax lots, positions, cash, realized Gain-Loss, portfolio manager trading, and After-tax performance of client's report
  • Analyzing new accounting platform solutions to assess accounting capabilities and system functionality to ensure data integrity and accuracy
  • Identifying efficiencies and areas for improvement within operations for accounting to mitigate risk, reduce manual efforts, and drive scale
  • Creating, maintaining and reviewing accounting standards to manage the business needs
  • Developing a thorough knowledge of accounting across division
  • Coverage and oversight of custodian and fund administrators to maximize potential value delivery across the firm
  • Develop knowledge of industry trends, competitive landscape and capabilities to facilitate business, increase efficiencies, improve controls and enhance client experience
  • Mentor junior team members and build subject matter expertise in derivatives, NAV, and reconciliation frameworks
  • Lead training initiatives on product lifecycle, accounting treatment, and reconciliation methodologies

Preferred Qualifications:
  • Relevant bachelor's degree with an excellent academic record
  • 4+ years of experience in Operations and/or Financial Services Industry, preferably in Asset management
  • Strong understanding of the theoretical and technical nature of accounting principles and theories including fund accounting, Tax lot accounting, and Net Asset Values
  • Extensive understanding of the product lifecycle (Equity, Fixed Income, and other similar financial products)
  • Familiarity with FIS Investment Accounting Manager (formerly Invest One) or any other portfolio accounting systems
  • Strong analytical skills, critical thinking, problem solving, and able to recommend long-term solutions
  • Excellence in risk management and meticulous attention to detail with a sense of urgency / deliver tight deadlines
  • Ability to work independently, multitask and adapt in a fast-paced environment to deliver results
  • Excellent communication (both written & spoken)
  • Experience working across multiple business areas and/or functions to deliver results
  • Advanced skills in Microsoft Excel, Word, PowerPoint, and ability to present to senior management

About The Goldman Sachs Group, Inc

The Goldman Sachs Group, Inc. provides investment banking, securities, and investment management services, as well as financial services to corporations, financial institutions, governments, and high-net-worth individuals worldwide. Its Investment Banking segment offers financial advisory services, including advisory assignments concerning mergers and acquisitions, divestitures, corporate defense, risk management, and restructurings and spin-offs; and underwriting services comprising public offerings and private placements of a range of securities, loans, and other financial instruments, and derivative transactions. The company’s Institutional Client Services segment provides client execution services, such as fixed income, currency, and commodities client execution related to making markets in interest rate products, credit products, mortgages, currencies, and commodities; and equities related to making markets in equity products, as well as executes and clears institutional client transactions on stock, options, and futures exchanges. This segment also engages in the securities services business providing financing, securities lending, and other brokerage services to institutional clients, including hedge funds, mutual funds, pension funds, and foundations. Its Investing and Lending segment originates longer-term loans; and invests in debt securities, loans, public and private equity securities, real estate, consolidated investment entities, distressed assets, currencies, commodities, and power generation facilities. The company’s investment management segment provides investment products and services, as well as offers wealth advisory services, including portfolio management and financial counseling, and brokerage and other transaction services.

The Goldman Sachs Group, Inc. Careers

Join the prestigious team at The Goldman Sachs Group, Inc., a global leader in finance and investments, and propel your career to new heights. Our firm is renowned for its commitment to excellence, innovation, and leadership in the financial sector.

Work You’ll Do

At Goldman Sachs, you will be part of a dynamic environment that fosters growth, diversity, and professional development. Engage in transformative projects that redefine the landscape of global finance, driven by a culture of high performance and continuous improvement.

Lead with Innovation and Leadership

Step into a role where your skills will be honed and your leadership capabilities enhanced. The Goldman Sachs Group, Inc. is at the forefront of merging financial expertise with technological innovation, creating a platform for you to lead impactful initiatives.

Join Our Diverse and Inclusive Team

Diversity and inclusion are at the core of our company culture. With employees from various backgrounds, Goldman Sachs thrives on the rich ideas and perspectives that this diversity brings. Here, every team member’s contribution is valued, and every voice is heard.

Explore Job Opportunities and Internships

Whether you’re seeking full-time employment or looking into internship opportunities, Goldman Sachs offers a range of positions that cater to different skills, experiences, and career aspirations. From analyst to executive positions, discover how you can contribute to our legacy of success.

Networking and Professional Growth

Goldman Sachs is not just a workplace. It is a community where you can build lasting relationships with colleagues and industry leaders. Our networking events, mentorship programs, and professional groups foster connections that can accelerate your career trajectory.

Benefits and Career Development

Invest in your future with Goldman Sachs’ unparalleled employee benefits and career development programs. From comprehensive health benefits to personalized career coaching and leadership training, we ensure that our team is equipped for success, both professionally and personally.

Prepare for Your Future

Ready to take the next step? Prepare your resume, sharpen your interview skills, and explore the vast array of job opportunities at The Goldman Sachs Group, Inc. Our hiring process is designed to identify and nurture talent, helping you to achieve your career goals.

Stay Connected

Keep up to date with the latest from Goldman Sachs Careers by subscribing to our job alert emails. Tailor your preferences to receive updates that match your career interests and stay ahead in the competitive financial sector.

Join The Goldman Sachs Group, Inc.

Embark on a rewarding journey with The Goldman Sachs Group, Inc. where your potential is limitless. Explore positions, read about our company culture, and apply today to become part of a team that values growth, leadership, and innovation.

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At The Goldman Sachs Group, Inc., your career is just the beginning – it’s an opportunity to excel and lead in the global financial industry. Join us and make your mark!
Learn more about The Goldman Sachs Group, Inc
Size
45,100 employees
Market Cap
$115.8 billion
Industry
Finance & Insurance
Net Income
$9.4 billion
Founded
1869
5 Year Trend
+11.3%
Revenue
$53.4 billion
NASDAQ
GS
* Ladders Estimates

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