Job Abstract

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. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.

WHO WE ARE

Compensation Accounting is responsible for accounting, reporting and payment of salary, bonus (Cash and Equity), other types of remuneration paid to employees of the firm and tax payments to domestic and international tax authorities.

These responsibilities include the accounting of cash payments and equity awards, projections/budgets, wage and tax reporting of employee share-based compensation and share-based disclosures including basic & diluted share count for the Firm. We work closely with other areas of the firm such as Human Capital Management (HCM), Tax, Treasury, Legal and Corporate Financial Reporting.

Compensation Accounting has five regional teams strategically located in Jersey City, London, Hong Kong, Bengaluru and Sao Paulo. This role is located in Jersey City and will support various aspects of Compensation Accounting for Equity and Planning & Analysis on a global level.

RESPONSIBILITIES

• Calculate monthly accruals for bonus, payroll tax, severance and vacation.
• Calculate, record, and report the accounting of equity awards amortization, employer payroll taxes and mark-to-market accruals to the general ledger and in compliance with Accounting Standards Codification (ASC)-718 and the International Financial Reporting Standards (IFRS).
• Calculate and prepare the deferred compensation and payroll tax, including share-based compensation, current year projection and future year budgets for the firm’s Business Planning Committee meetings and Federal Reserve Bank stress tests utilizing Anaplan.
• Coordinate with the different regional payroll teams and payroll vendors to determine the employer tax rates for salary, cash bonus and equity bonus to properly calculate, record and project payroll tax expense.
• Prepare share-based disclosures in accordance with ASC-718 and IFRS2.
• Liaise with other areas of the Firm across the different divisions and legal entities, analyzing and providing support on Deferred Compensation Profit & Loss and Balance Sheet variances with detailed commentary of significant activities.
• Ensure sound operational controls are maintained and followed in compliance with existing internal/external governance.
• Perform and maintain support documentation in accordance with Sarbanes-Oxley legislation.
• Identify and implement process improvement opportunities.
• Provide business requirement and execute User Acceptance Testing (UAT) with the Engineering department for system enhancements due to regulatory changes and firm’s initiatives.
• Prepare standard management reports for various groups and respond to ad hoc queries.
• Reconcile data between HCM and Compensation Accounting applications.
• Reconcile sub-ledger balances to the general ledger and quarterly balance sheet substantiation.
• Prepare regional key management personnel requests for reports to regulatory authorities.
• Prepare support for audit requests of share-based compensation.

EXPERIENCE:

Basic Qualifications:

• Bachelor’s Degree in Accounting or Finance
• 3 Years of general accounting experience (share-based accounting a plus)

Preferred Qualifications:

• Proficient in Microsoft Excel, Word, Access and Power Point (i.e. - utilizing Excel to create reports and perform analysis using pivot tables, VLOOKUP, charts, filtering, data validation, and other “what if” tools.)
• Strong knowledge of accounting processes and analyzing financial data to follow through with multiple time sensitive deliverables utilizing good organizational skills.
• Proven record of being able to liaise cross functionally across multiple teams with strong communication skills, while remaining flexible to rapidly changing priorities.
• Ability to identify issues related to internal controls and of the control environment for compliance and general risk mitigation, including as it relates to highly confidential data.
• Experience in accounting processes such as journal entries and reviewing general ledger to analyze and reconcile accounts.
• Ability to investigate fluctuations in Profit & Loss (P&L) and / or Balance Sheet accounts to provide variance explanations, including identification, and understanding of underlying drivers during analytical reviews.
• Extreme attention to details and the ability to follow through.
• Some knowledge in Accounting Standards Codification (ASC) 718 and 260 a plus.

We're committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: https://www.goldmansachs.com/careers/footer/disability-statement.html

Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity