EMEA Regulatory Policy, Vice President/Executive Director, London
MORE ABOUT THIS JOB FINANCE
We're a team of specialists charged with managing the firm's liquidity, capital and risk, and providing the overall financial control and reporting functions. Whether assessing the creditworthiness of the firm's counterparties, monitoring market risks associated with trading activities, or offering analytical and regulatory compliance support, our work contributes directly to the firm's success. The division is ideal for collaborative individuals who have strong ethics and attention to detail. RESPONSIBILITIES AND QUALIFICATIONS
EMEA Regulatory Policy Team
The Regulatory Policy team sits within the Controllers department within the EMEA Finance division. Regulatory Controllers are responsible for ensuring that Goldman Sachs UK and European regulated entities maintain adequate capital resources to meet their commitments and to withstand the risks to which the business is subject, e.g. Market Risk, Credit Risk and Operational Risk, and other risks as assessed in our ICAAPs. The Regulatory Policy team is a specialist unit which analyses and advocates on regulatory developments focusing not just on UK but also EU prudential regulations, whether from Basel, PRA or EU authorities. The team also focuses on existing regulatory capital rules providing written interpretations, transaction analysis and updates and advice to stakeholders. The Role
This is an exciting opportunity for an experienced candidate to participate in an important area of regulatory change and be involved in developing the Firms thinking and approach to implementing these evolving regulatory requirements. The role will include current and future policy analysis and advocacy focusing on Capital Resources, RWA and Leverage ratio policy issues. The individual will be responsible for assessing the regulatory requirements related to these areas, liaising with the regulatory reporting teams, business areas, Finance and Government Affairs functions to manage the full life-cycle of regulatory change from initial ideology stages through rule legislation and ultimately to implementation into our policies, in-house systems and transaction review. It will also involve working with the US teams involved in similar policy roles at GS Group level. Principal Responsibilities
- Analyse new regulatory change from Basel, UK and EU regulators including revisions to the capital requirements regulation and related requirements
- Communicate and seek input on regulatory developments to/from internal stakeholders
- Contribute to and help form the local and global advocacy approaches in conjunction with New York Policy Team and the Office of Government Affairs
- Meet with external policymakers and peer firms to put forward and discuss potential improvements to future and existing rules
- Represent the firm's views and coordinate with industry trade associations
- Coordinate impact assessments of new regulatory updates and the impact on the firm
Experience & Qualifications
- Provide written interpretations of EU and UK rules including new and revisions to a suite of policy documents
- Liaise with wider stakeholders across business areas, Risk, Controllers, Legal and Technology to develop appropriate requirements, processes and solutions
- Provide transactions advice and support to business areas on local and US rules in arriving at Return on Equity measures
- Understanding and familiarity of other regulatory developments is encouraged, including liquidity requirements, stress testing, ICAAP and derivatives market regulation (e.g. EMIR and MIFID), although these areas are not the direct responsibility of the team.
ABOUT GOLDMAN SACHS
- An accountancy qualification (ACA/CA/ACCA) is desired but not essential
- Functional Expertise: an understanding of Regulatory Reporting, in particular both EU & UK Regulatory Reporting requirements is preferred but not essential
- Regulatory knowledge: an understanding of the regulatory capital rules would be preferred including knowledge of IRB, VaR, Pillar 2, Leverage Ratio, Basel 2 & 3 & 3.1, CRD IV, CRD V
- Proven project management and organisational skills including taking ownership for key policy related change projects as well as managing a variety of stakeholders across the firm
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.
We believe who you are makes you better at what you do. We're committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally, from our training and development opportunities and firmwide networks to benefits, wellness and personal finance offerings and mindfulness programs. Learn more about our culture, benefits, and people at GS.com/careers .
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