Job Description

Global Markets

Our core value is building strong relationships with our institutional clients, which include corporations, financial institutions, governments, asset managers and hedge funds. We help them buy and sell financial products, raise funding and manage risk across global markets. This is a dynamic, entrepreneurial team with a passion for financial markets, comprising individuals who thrive in fast-paced environments and are energized by the challenges and opportunities presented by a trading floor.

At Goldman Sachs, our culture is one of teamwork, innovation and meritocracy. We believe our people are our greatest asset and are committed to supporting their professional and personal development through a collaborative and inclusive environment.

Business Unit Overview

The Rates Trading desk is responsible for market making and risk management across a broad range of ZAR denominated fixed income and interest rate products, including government bonds, interest rate swaps and other derivatives. Traders on the desk work closely with Sales, Research, Structuring and global Emerging Markets trading teams to provide liquidity to institutional clients, manage market risk and capitalize on opportunities arising from macroeconomic developments, monetary policy decisions and market flows.

Your Impact

We are seeking a highly motivated and analytically driven individual to join our Emerging Markets Rates Trading team with a focus on South African markets. The successful candidate will work alongside experienced traders to support market making, risk management and client activity across a range of South African fixed income and interest rate products.

This role offers the opportunity to gain exposure to financial markets, trading strategy, risk management and client flow within a fast-paced and collaborative trading environment.

How You Will Fulfil Your Potential

• Support market making activities across South African Rates products, including government bonds, interest rate swaps (IRS), forward rate agreements (FRAs), FX swaps and cross-currency swaps.
• Assist in the management and monitoring of trading risk, exposures and hedging activities across the rates portfolio.
• Execute trades under the supervision of senior traders while ensuring adherence to trading limits and risk parameters.
• Monitor market developments, economic data releases, inflation trends and South African Reserve Bank announcements to identify risks and opportunities.
• Analyse market flows, investor positioning and trading activity to support pricing and risk-taking decisions.
• Prepare daily profit and loss reports, risk dashboards and market commentary for internal stakeholders.
• Develop expertise in pricing, valuation and risk management of fixed income and derivatives products.
• Work closely with Sales, Research, Structuring, Operations and Risk teams to support client engagement and business growth.
• Contribute to the development of trading tools, automation initiatives and analytics designed to enhance desk performance and efficiency.
• Support client activity through market analysis, trade execution and the delivery of market insights.
• Maintain a strong understanding of local fixed income markets, monetary policy and macroeconomic developments impacting South Africa.
• Ensure all activities are conducted in accordance with regulatory requirements, internal policies and risk management standards.

Skills & Experience We're Looking For

Basic Qualifications

• Bachelor's degree in Finance, Economics, Mathematics, Engineering, Physics, Computer Science or a related quantitative discipline.
• Strong interest in financial markets, macroeconomics and trading.
• Excellent analytical, quantitative and problem-solving skills.
• Strong attention to detail and ability to manage multiple priorities in a fast-paced environment.
• Excellent verbal and written communication skills.
• Strong interpersonal skills and ability to work effectively within a team environment.

Preferred Experience

• Experience within a Markets Operations, Trade Support or Middle Office function, with a strong understanding of the trade lifecycle and a demonstrated interest in transitioning into a front office trading role.
• Knowledge of fixed income products, interest rate markets and derivative instruments.
• Familiarity with South African financial markets and macroeconomic drivers.
• Experience working with market data, analytics and quantitative models.

Key Attributes

• Intellectual curiosity and a genuine passion for financial markets.
• Strong commercial awareness and understanding of market dynamics.
• Ability to perform under pressure and make decisions in a dynamic environment.
• High degree of integrity, accountability and professionalism.
• Collaborative mindset with a desire to learn from experienced market professionals.
• Entrepreneurial approach and willingness to challenge conventional thinking.

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., 2026. 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.