Product Manager - Core Payments Platform
MORE ABOUT THIS JOB
Goldman has an in-house payment platform - Core Payment Platform (CPP) - facilitates cash settlements at the firm and serves as the conduit to external counter-parties (agent & central banks) through the firm's core payment infrastructure.
Some of the key functions and services include: (1) Cash Settlement Entry and Processing
- provides a mechanism to firm's upstream systems for sending payment messages, creation of payments and processing of receipts from the above counterparties. (2) Application of risk controls
(Firm-wide and Business specific, Regulatory, Sanctions scanning and Anomaly/Fraud Detection) for outbound and inbound payments (3) Settlement instruction management
- creation, authentication and management of settlement instructions (4) Settlements & Reconciliations
- involves intra-day and EOD matching and reconciliations of receipts from the above external counterparties and related fail management workflow (5) Payment Reference Data Management
- on-boarding and maintenance of bank accounts, management of cash settlement reference data (6) Payment Execution
- Message formatting and delivery/receipt of payments to/from a wide range of targets and offer connectivity (payment rails) across all major networks, central banks and agent banks (7) GS Postings Interface
- Cash postings to our ledgers, and liquidity management systems.
To provide a sense of scale: CPP facilitates daily settlement of ~$750 billion (USD equivalent notional) of cash across 60 currencies, manage bank and custodian accounts across 275 bank branches in 115 cities/66 countries, users of Treasury systems span 20 divisions and 233 departments across all product areas for the following clients:
- Institutional - Securities and OTC and Listed derivatives, Prime Brokerage, PWM, GSAM,
- Retail - Apple Card, Marcus Savings and Deposits
- Federation - Payroll, Travel & Expenses, Accounts Payable and Receivables
In addition, a key element of the CPP offering includes the on premise SWIFT network ecosystem. SWIFT is used for a variety of real-time transaction processing including, cash settlements, trade confirmations/affirmations, FX CLS, securities settlements across multiple businesses thereby generating about 1 million transactions daily average transactions.
Given the significant increase in demand of the firm's mandate driven by the firms' (institutional and retail) payment-related businesses and industry mandated programs certain components in CPP need a major overhaul to modernize the system infrastructure. Your Impact
We are looking for an experienced product manager to lead, influence and shape the features and capabilities of CPP at Goldman Sachs that will form the foundation of a API and service based best-of-breed common payments infrastructure.
You will work with all levels of our clients and stakeholders spanning a number of key divisions - Consumer/Retail, Treasury, Securities, Transaction Banking, Federation and maintaining close relationships with our users and other research, design and engineering teams working on payment solutions.
Our #1 business principle is "Our clients' interests always come first. Our experience shows that if we serve our clients well, our own success will follow". Every customer is given maximum attention to understand their needs. We adopt the most appropriate approach to drive the business of the customer or institution towards the desired growth. We now want to apply the same approach to the way we build products and deliver customer-centric, world class products through the collaborative work we do in Product Management.
Our team of product managers work closely with creatives and researchers through our design teams and are fortunate to have many experienced fintech engineers to help architect and develop technologies. We are responsible for guiding products throughout all stages of the product's lifecycle, including research, pitching, scoping, delivering, promoting, and tailoring solutions to our clients. How will you fulfill your potential?
You will be an experienced and seasoned product manager, working cross-functionally to guide products from conception through launch, growth and maturity by connecting the technical and business worlds to meet our customers at their needs. You will break down complex problems into steps that drive product development and release adopting the principals of growth from MVP. RESPONSIBILITIES AND QUALIFICATIONS Basic qualifications:
- Candidate should have had prior experience in driving or influencing payments related initiatives including (but not limited to):
- Payment Rails and data standards such as FedWire, SWIFT, ACH, CHIPS, CHAPS, ISO 20022
- Fraud / Anomaly and Sanctions detection standards
- Real time payments monitoring and detection ("Find my payment") services
- Knowledge of the major players and their offerings especially given significant upcoming industry changes - (SWIFT ISO 20022, GPI), Real-time Payments (RTP) Clearing house, FedNow
- Bachelor's degree in a technical field or equivalent practical experience building/shipping technical products
- 5+ years of technical product management experience, including experience driving the product vision, design, and go-to-market strategy
- Demonstrated success defining and launching excellent products
- Demonstrated ability to communicate complex problems and technical architectures to all stakeholders
- Demonstrated success collaborating with design and engineering peers to lead a product development team
ABOUT GOLDMAN SACHS
- Experience or working knowledge of messaging and data design patterns
- Experience managing day-to-day technical and design direction
- Knowledge of multiple functional areas such as product management, engineering, user experience, user research, sales, trading, treasury, customer support or marketing
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 .
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
© The Goldman Sachs Group, Inc., 2021. All rights reserved.
Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity