DescriptionInternal Audit – Global Banking & Markets - FICC, Associate
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments, and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. We commit people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Our people are our greatest asset – we say it often and with good reason. It is only with the determination and dedication of our people that we can serve our clients, generate long-term value for our shareholders and contribute to the broader public. We take pride in supporting each colleague both professionally and personally. From collaborative workspaces and ergonomic services to wellbeing and resilience offerings, we offer our people the flexibility and support they need to reach their goals in and outside the office
INTERNAL AUDIT
In Internal Audit, we ensure that Goldman Sachs maintains effective controls by assessing the reliability of financial reports, monitoring the firm’s compliance with laws and regulations, and advising management on developing smart control solutions. Our group has unique insight on the financial industry and its products and operations. We’re looking for detail-oriented team players who have an interest in financial markets and want to gain insight into the firm’s operations and control processes.
WHAT WE LOOK FOR
Goldman Sachs Internal Auditors demonstrate strong risk and control mindsets, analytical, exercise professional skepticism and are able to challenge and discuss effectively with management on risks and control measures. We look for individuals who enjoy learning about audit, businesses and functions, have innovative and creative mindsets to adopt analytical techniques to enhance audit techniques, building relationships and are able to evolve and thrive in teamwork and in a fast-paced global environment.
YOUR IMPACT
As the third line of defense, Internal Audit’s mission is to independently assess the firm’s internal control structure, including the firm’s governance processes and controls, and risk management and capital and anti-financial crime frameworks, raise awareness of control risk and monitor the implementation of management’s control measures. In doing so, internal Audit
• Communicates and reports on the effectiveness of the firm’s governance, risk management and controls that mitigate current and evolving risk
• Raise awareness of control risk
• Assesses the firm’s control culture and conduct risks
• Monitors management’s implementation of control measures
Goldman Sachs Internal Audit comprises individuals from diverse backgrounds including chartered accountants, developers, risk management professionals, cybersecurity professionals, and data scientists. We are organized into global teams comprising business and technology auditors to cover all the firm’s businesses and functions, including securities, investment banking, consumer and investment management, risk management, finance, cyber-security and technology risk, and engineering.
RESPONSIBILITIES
- Develop and maintain an in-depth understanding of trade support and core operational functions and the business areas, products, and activities supported
- Assist in every step of an audit, including documentation, across scoping, planning, fieldwork and reporting
- Performing walkthroughs with stakeholders to perform control design assessments and presenting results of work performed to management
- Execute audit testing to ensure audit fieldwork is focused on the right areas and documentation meets high quality standards
- Identify risks, assess mitigating controls, and make recommendations on improving the control environment
- Prepare commercially effective audit conclusions and findings, and present to Internal Audit senior management and business stakeholders
- Follow-up on open audit issues and their resolution
- Participate in department-wide initiatives aimed at continually improving Internal Audit's processes and supporting infrastructure
- Ongoing liaison with colleagues globally and internal and external stakeholders including regulators and external audit.
- Maintenance of internal client relationships and regular interaction with the business during the year to assess changes in the control environment and other matters arising in the business
SKILLS AND RELEVANT EXPERIENCE
- 4-year degree in a finance, accounting, or quantitative discipline
- Relevant certification or industry accreditation (e.g., CAMS, CIA) is a plus
- 3 -7 years of relevant work experience
- Team-oriented with a strong sense of ownership and accountability
- Strong leadership, interpersonal, and relationship management skills
- Strong verbal and written communication skills
- Able to work under minimal supervision on individual tasks or on team projects
- Highly motivated with solid analytical skills, willing and able to learn new business and system processes quickly
- Highly motivated with the ability to multi-task and remain organized in a fast-paced environment
- Experience using data analytics in audits
- Executing integrated business and technology audits
- Auditing operations functions within an investment bank or other financial services company
- Product Specific Skills and Experience: Solid knowledge of Global Markets and related operational support functions, including:
- Sales and trading of cash, derivative and structured products across FICC (Interest rate products, credit products, Mortgages, Currencies and Commodities) and Equities (listed and OTC trading shares, options, and futures)
- Prime brokerage, securities lending, and execution services
- Trade processing, clearing and settlement
- Compliance with trading rules and regulations