Finance

 

The Controllers group is responsible for safeguarding the firm's assets: We help maintain the integrity of Goldman Sachs' finances and expenditures.

Through careful consideration and analyses of firm finances, objectives and strategies, we ensure that the firm's businesses continue to be profitable and efficiently run. Controllers also ensure that all business practices are in compliance with financial and regulatory requirements worldwide.

Since contact with virtually every part of the firm is essential to Controllers, professionals in the department experience Goldman Sachs businesses, products and sophisticated technology systems in depth. If you want to develop an in-depth understanding of financial services, Controllers is a great place to begin your career. You will receive continuous training, both formal and informal, and the support of senior members of our team.

The following represent the primary functions of Controllers:

Financial Reporting

• Coordinate and draft the firm’s consolidated SEC filings, including the firm’s Form 10K/Annual Report and Form 10Qs. This includes the preparation of the firm’s balance sheet, income statement, footnote and MD&A disclosures and analyses. Coordinate and draft the firm’s quarterly earnings release
• Prepare various consolidated daily, weekly, monthly and quarterly P&L reports for senior management
• Establish firmwide accounting policies and provide technical accounting advice
• Evaluate new acquisitions, structured trades and other transactions to determine appropriate accounting
• Coordinate analysis and introduction of new products between traders, investment bankers and all support areas
  
  SAO Financial Reporting
• Responsible for the accuracy and fair presentation of stand alone entity(s) financial information and disclosures in accordance with U.S. GAAP and, if applicable, other local reporting requirements
• Produce quarterly financial information for inclusion in the firm’s consolidated SEC financials
• Perform and oversee monthly closing process which includes monitoring intercompany relationships, general ledger vs. sub-ledger breaks, revenue and expense sharing arrangements, funding arrangements among affiliated entities, and proper booking of accruals/provisions and classification of inventory and other balances
• Assesses on a quarterly basis the effectiveness of internal controls and escalates control issues to senior management
• Liaise extensively with other areas of firm such as Product Controllers, Funding Controllers, Corporate Treasury, Legal, Tax, Regulatory, Market Risk and Credit Risk on various ad hoc inquiries including new products requests, strategic changes to existing workflows, and transfer pricing initiatives

Funding

• Understanding firm funding activities and external market conditions
• Calculation and analysis of firm liquidity and balance sheet metrics
• Reconciliations to P&L and Balance Sheet estimates for funding activities
• Setting and application of policy to charge businesses for funding requirements

IMD Controllers

• Corporate Controllers - Legal entity financial and management reporting, including preparation of financial statements, regulatory filings, and coordination of audits. AUM & Revenue reporting by region, channel, and product. Monitoring and reporting firm investments in IMD funds
• IMD Product Controllers - Instituting and monitoring valuation policies. Performing independent price verification. Originating fair value pricings. Providing advice and support on structured trades
• IMD Fund Accounting - Establishing accounting policies for funds. Reviewing investor P&L allocations. Monitoring and supervising fund audits. Validating management and incentive fee calculations.

Product Control

• Reconciliation of P&L to traders estimate and attribution
• Control Analysis – posting to ledger, accuracy of P&L
• Balance Sheet analysis, limits and use of capital
• Price Verification of all products

Regulatory Reporting

• Co-ordinate the capital computations for GS Group (as a Bank Holding Company) and for all regulated GS entities (e.g. GS Bank USA, GS&Co, GSI)
• Developing workflows and reconciliations as they pertain to the computations - including roll-out of new -- Basel I capital requirements
• Ensures compliance with regulatory rules, notably those of the Federal Reserve in the US and the FSA in the UK
• Advise management on a wide array of regulatory matters and developments
• Responsible for the submission of most regulatory returns to regulators worldwide

Controllers Technology Office

• Responsible for the management and execution of technology projects for Controllers
• Focuses on the implementation and enhancement of Controllers financial systems which includes performing analysis, design, development, testing and training
• Serves as a liaison between the business areas and technology to advise on best practices while promoting the division’s strategic goals and objectives

Financial Systems and Analysis

• Responsible for the support and development of key financial reporting applications
• Provide Project Management services for several Controllers initiatives
• Develop and deliver training to Controllers on applications and processes.
• Enforce Control through standardization, review and analysis.