Job Summary & Responsibilities
The Goldman Sachs Group, Inc. is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Bangalore, Hong Kong and other major financial centers around the world.
Residential Mortgages Asset Management (RMAM) is a business unit within the Realty Management Division (RMD) primarily supporting the Securities division's Mortgage Loan Trading and Investment Banking's Structured Finance desks. RMAM is responsible for directing and facilitating due diligence (at both the deal and asset levels) for the acquisitions, sales and securitizations of residential loan portfolios, and ensuring completion of transaction closing requirements. Post trade RMAM is responsible for the Asset management and facilitation of the portfolio's strategies and portfolio performance reporting.
Goldman Sachs & Co, located in Irving TX, is seeking an Analyst/Associate to support the Residential Mortgages Asset Management and Securities division's Mortgage Loan Trading groups. The successful candidate will be responsible for thoughtful, quantitative analysis surrounding the performance of distressed loan investments, trading profit/loss, and helping to apply that back into the acquisition of new assets.
- Learn the methodology and mechanics of internal loan pricing models, ability to apply models to existing inventory and potential acquisitions
- Work on various stages of potential bids, including but not limited to, normalizing and loading counterparty data to internal databases, analyzing and stratifying pools, collaborating with Trading Desk to determine appropriate modeling assumptions, and, producing bid packets and Investment Memo related the those deals
- Collaborate with Transaction Managers and Due Diligence teams to ensure all post-bid activities related to final settlement of awarded bids are accurately completed and reflect the modeled risk
- Create, Maintain, and Present detailed information with respect to P&L, Historical Rate of Returns, Cash Flow and IRR Projections as well as Collateral Performance of residential mortgage loans across multiple portfolios
- Provide thoughtful monthly quantitative analyses deal by deal, on the key drivers of current portfolio performance and recommend actionable strategies to both Asset Management and the Whole Loan Trading Desk
- Conduct a periodic model back-testing using key metrics derived from actual performance of seasoned portfolio and recommend modeling assumptions adjustments to the Whole Loan Trading Desk
- Be able to learn internal Asset Liability Match (ALM) funding, as well as rate hedge strategies with regards to current portfolio characteristics (Size, Coupon, Yield, Duration, Delinquency, etc.)
- Interact and Collaborate across internal teams (Data Management, Operations, Technology, and Strats) across the firm to ensure quality of data, accurate cash processing, and validate modeling assumptions used
- Work with Financial Controllers to ensure firm accounting systems reflect Whole Loan Desk P&L expectations, and be able to analyze and reconcile variances when required