GBM Private, Capital Solutions Group, Corporate Credit Portfolio Group , Credit Research Analyst - Associate/VP - New York

Capital Solutions Group

Goldman Sachs operates at the fulcrum of one of the most important structural trends in finance: the convergence of public and private markets. We combine the #1 global advisory franchise, a leading origination business, and an investing platform that deploys capital across liquid and alternative asset classes.

Our Capital Solutions Group is a comprehensive suite of our financing, origination, structuring, and risk management solutions. The depth and breadth of our relationships, enriched by the velocity of our deal flow, provide clients unique insights to maximize value and unlock opportunity.

Our integrated structure is built to provide comprehensive, tailored solutions that propel both our issuing and investing clients forward.

Corporate Credit Portfolio Group

The Corporate Credit Portfolio Group manages Goldman's relationship lending portfolio, a risk book with 100+ bln of corporate debt, ranging from investment grade to distressed. We are Street-facing and execute trading / hedging strategies in loans, CDS, bonds, options, tranches, and post-bankruptcy positions. The New York team is responsible for managing all of the group's risk in the Americas. We are a small team, so each person is expected to gain expertise across a broad range of credits, industries, and products.

The role focuses on managing the portfolio and is great for an experienced credit research analyst with a strong skillset in credit analysis / investment skills who enjoys working in a fast-paced, market-oriented environment. You will analyze corporate credit, price risk across capital structures, and guide portfolio risk management. Candidates should be interested in managing risk at the micro / single-name level and at the macro level across 1,000+ credits in every industry. Responsibilities include:

• Perform fundamental analysis on companies and sectors
• Develop, monitor, and update portfolio screens for news and price changes on 1,000+ credits
• Follow and develop a credit view on a subset of the ~100 most topical names
• Assist in executing cash and derivative trades
• Develop views on appropriate hedge strategy, candidates for sales, and target prices
• Value and mark positions, many of which are illiquid, by reviewing comps, extrapolating across the capital structure, and building models based on financial statements

Basic requirements:

• 3-5 years of experience in credit research and/or investing (buy-side or sell-side), and/or a related field such as investment banking and equity research. While there is the opportunity to learn more about distressed credit analysis and loans, we expect applicants to have strong fundamental credit skills, including financial modelling, valuation, relative value, and recovery analysis
• Facility with basic fixed income math, risk metrics, and credit products
• Familiarity with loans is a plus
• Progress toward CFA (any level) is a plus

Salary Range

The expected base salary for this New York, New York, United States-based position is $150000-$225000. In addition, you may be eligible for a discretionary bonus if you are an active employee as of fiscal year-end.

Benefits

Goldman Sachs is committed to providing our people with valuable and competitive benefits and wellness offerings, as it is a core part of providing a strong overall employee experience. A summary of these offerings, which are generally available to active, non-temporary, full-time and part-time US employees who work at least 20 hours per week, can be found here.

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.

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The Goldman Sachs Group, Inc., 2023. 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.