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- Tasks: Join our Workout & Restructuring team to analyse distressed credit and develop recovery strategies.
- Company: Goldman Sachs is a leading global investment banking and securities firm, committed to diversity and inclusion.
- Benefits: Enjoy professional growth opportunities, wellness programs, and a supportive work environment.
- Why this job: Make a real impact in finance while collaborating with diverse teams across the globe.
- Qualifications: 3+ years in credit risk management with strong analytical and communication skills required.
- Other info: This is a full-time associate role based in London, perfect for those passionate about finance.
The predicted salary is between 43200 - 72000 £ per year.
Risk, Credit Risk-Workout & Restructuring, Associate, London
RISK
The Risk Division is a team of specialists charged with managing the firm’s credit, market, liquidity, operational and capital risk. 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.
Job Description
RISK
The Risk Division is a team of specialists charged with managing the firm’s credit, market, liquidity, operational and capital risk. 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.
Division/Business
Workout & Restructuring Team Overview
The Workout & Restructuring (W&R) team is a specialist group within Credit Risk (CR) that maintains primary responsibility (i) for managing the firm’s distressed and defaulted credit positions to maximize recoveries, and (ii) evaluating and structuring new transactions with distressed counterparties. Principal offices are in New York, Salt Lake City and London to ensure global coverage of the portfolio. All major industries are represented, including consumer and retail, natural resources, financial services, TMT and real estate. All major business lines are in scope, including Investment Banking, Asset Management Division, Global Markets and Private Wealth Management.
The Role & Responsibilities
Workout & Restructuring team members are generalists, and the successful candidate will have the opportunity to work on distressed restructurings/re-capitalizations across the capital structure in different geographies within EMEA/APAC and multiple industries.
In This Role You Will
- Conduct in depth counterparty credit analysis including review of industry fundamentals, financial strength, qualitative factors and likelihood of default
- Develop expertise in bankruptcy and distressed credit management. Participate in formulating workout strategies and approval discussions
- Work with senior credit/restructuring professionals, and in some cases take the lead, to determine the firm’s risk appetite and appropriate reserve level for distressed counterparties
- Develop a thorough understanding of key fundamentals of credit underwriting including financial modeling/projections
- Draft transaction memoranda, expressing and supporting Credit Risk’s recommendations
- Escalate issues to Credit Risk senior management
- Monitor the performance of counterparties in the distressed Watch List portfolio, including adherence to terms and covenants, and repayments
- Act as a mentor for junior analysts in the team. Develop and manage relationships with other areas of the firm, including Investment Banking/Capital Markets, Sales & Trading, Operations, Collateral Management, Legal, Compliance, Technology
Experience & Skills Required
- Minimum 3+ years of credit risk management experience (mainly in the non-investment grade space) with some experience in credit restructurings.
- Demonstrable track record of independent decision making as well as the ability to work collaboratively in team settings.
- Strong legal documentation (loan and/or derivatives), analytical, presentational and communication skills required.
- Ability to lead and motivate an engaged and diverse deal team, providing guidance to and supervision of junior members of the team.
- Ability to communicate with the senior levels within GS, both inside & outside of Credit risk.
The Risk division is responsible for credit, market and operational risk, model risk, independent liquidity risk, and insurance throughout 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.
We’re committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: https://www.goldmansachs.com/careers/footer/disability-statement.html
The Goldman Sachs Group, Inc., 2023. All rights reserved.
Goldman Sachs is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, national origin, age, veterans status, disability, or any other characteristic protected by applicable law.
Seniority level
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Seniority level
Associate
Employment type
-
Employment type
Full-time
Job function
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Job function
Finance and Sales
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Risk, Credit Risk-Workout & Restructuring, Associate, London employer: Goldman Sachs
Contact Detail:
Goldman Sachs Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Risk, Credit Risk-Workout & Restructuring, Associate, London
✨Tip Number 1
Network with professionals in the credit risk and restructuring fields. Attend industry events, webinars, or local meetups to connect with individuals who work at Goldman Sachs or similar firms. Building these relationships can provide you with valuable insights and potentially lead to referrals.
✨Tip Number 2
Stay updated on current trends and news in credit risk management and distressed assets. Follow relevant publications and thought leaders on social media. This knowledge will not only help you in interviews but also demonstrate your genuine interest in the field.
✨Tip Number 3
Prepare for technical interviews by brushing up on your financial modelling and credit analysis skills. Practice case studies related to distressed restructurings, as this will help you articulate your thought process and decision-making abilities during the interview.
✨Tip Number 4
Showcase your collaborative skills by discussing past experiences where you worked effectively in a team setting. Highlight any leadership roles you've taken, especially in mentoring junior analysts, as this aligns well with the responsibilities of the role.
We think you need these skills to ace Risk, Credit Risk-Workout & Restructuring, Associate, London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in credit risk management and restructurings. Use specific examples that demonstrate your analytical skills and decision-making abilities, particularly in distressed situations.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Discuss how your background aligns with the responsibilities of the Workout & Restructuring team, and mention any specific experiences that showcase your ability to work collaboratively and lead teams.
Highlight Key Skills: Emphasise your strong legal documentation skills, analytical capabilities, and communication prowess. Provide concrete examples of how you've successfully navigated complex credit situations or led teams in previous roles.
Proofread and Edit: Before submitting your application, thoroughly proofread your documents. Check for grammatical errors, clarity, and overall presentation. A polished application reflects attention to detail, which is crucial for this role.
How to prepare for a job interview at Goldman Sachs
✨Understand the Role
Make sure you have a solid grasp of what the Workout & Restructuring team does. Familiarise yourself with credit risk management, distressed credit positions, and the specific responsibilities outlined in the job description. This will help you articulate how your experience aligns with their needs.
✨Showcase Your Analytical Skills
Prepare to discuss your experience with credit analysis and financial modelling. Be ready to provide examples of how you've assessed creditworthiness or developed workout strategies in previous roles. Highlight any specific tools or methodologies you used.
✨Demonstrate Collaboration
Since the role requires working closely with various teams, be prepared to share examples of how you've successfully collaborated in the past. Discuss any experiences where you led a team or mentored junior analysts, as this will showcase your leadership abilities.
✨Prepare for Technical Questions
Expect technical questions related to credit risk, legal documentation, and restructuring processes. Brush up on relevant regulations and industry standards. Being well-prepared will demonstrate your expertise and confidence in the subject matter.