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 of 6 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.
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