YOUR IMPACT

A great opportunity for an executive director / associate to join our EMEA Regulatory Policy team within the Controllers function based in Frankfurt or London, who wants to use their skills to provide robust regulatory policy analysis, advocacy, communication and management of regulatory change.

OUR IMPACT
The Regulatory Policy team sits within the Controllers department within the Finance division. Regulatory Controllers are responsible for ensuring that Goldman Sachs European and UK 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 within Regulatory Controllers which analyses and advocates on regulatory developments focusing on UK and EU prudential regulations, whether from Basel, the PRA/ECB, other UK and EU authorities. The team also focuses on existing regulatory capital rules providing written interpretations, transaction analysis and updates and advice to stakeholders. The role will provide you with the opportunity to gain broad exposure to the activities of Goldman Sachs divisions operating in the region and to build close relationships with these businesses and other key functions such as Risk, Legal and Government Affairs.

HOW YOU WILL FULFILL YOUR POTENTIAL
& Responsibilities

The current vacancy is for an Executive Director / Associate candidate within the Regulatory Policy team based in Frankfurt or London whose role will include current and future policy analysis and advocacy focusing on Capital Resources, RWA and Leverage Ratio policy issues in the EU. The individual will be responsible for assessing the regulatory requirements related to these areas, liaising with the Regulatory Controllers team, business areas, Risk, Legal, 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 the GS Group level. Key responsibilities include:
• Advocacy
o Analyse new regulatory change from UK and EU regulators including revisions to the capital requirements regulation and related requirements from Basel, the PRA, European Commission, EBA, the ECB, Bafin and the ACPR
o Communicate and seek input on regulatory developments to/from internal stakeholders
o Contribute to and help form the local and global advocacy approaches in conjunction with Government Affairs
o Meet with external policymakers, supervisors and peer firms to put forward and discuss potential improvements to future and existing rules
o Represent the firm’s views and coordinate with industry trade associations
o Coordinate impact assessments of new regulatory updates on the firm
• Interpretation
o Provide technical written interpretations of UK and EU rules including new rules and revisions to a suite of policy documents
o Liaise with wider stakeholders across Risk, Controllers and Technology to develop appropriate requirements, processes and solutions
o Provide transactions advice and support to business areas on local and US rules in arriving at Return on Equity measures
o 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.

This role provides an exciting opportunity to participate in an important area of regulatory change and be involved in developing the Firm’s thinking and approach to implementing these evolving regulatory requirements.

SKILLS & EXPERIENCE WE ARE LOOKING FOR

BASIC QUALIFICATIONS

• Educated to degree level
• Relevant experience in a similar role
• Knowledge and experience of the investment banking sector, including a strong understanding of risk and / or capital management processes and procedures.

PREFERRED QUALIFICATIONS

• Regulatory knowledge – in-depth understanding of the regulatory capital rules. Including knowledge of IRB, VaR, Pillar 2, Leverage Ratio, Basel 3, CRD VI etc.
• Functional Expertise - understanding of Regulatory Reporting, in particular EU Regulatory Reporting requirements
• Project Management - project management and organisational skills including managing projects, change and stakeholders
• Effective Communicator - is able to communicate effectively, both orally and in writing, to a broad range of people both across the Firm and externally at various levels of seniority. Shares information/new ideas with others
• Proactive - takes ownership of issues and provides constant high-quality feedback. Takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
• Creativity/Innovation - looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
• Flexible - is able to prioritize effectively under pressure in a very visible area, and is willing to take on additional responsibilities
• Personable - possesses very strong interpersonal skills, effectively handles difficult requests, builds trusting long-term relationships with stakeholders, and manages client/business expectations
• Analytical - pays attention to detail, and demonstrates an ability to digest complex technical regulatory papers and extract pertinent issues
• Influencing Outcomes - presents sound, persuasive rationale for ideas or opinions. Takes a position on issues and influences others' opinions and presents persuasive recommendations
• Team player - is a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions
• Business fluency in English and another European language preferable