Asset & Wealth Management, XIG, Public Strategies Investment Team, Fixed Income
Goldman Sachs · New York, NY
- On site
- Full-time
- $290,000 / year
- New York, NY
Job highlights
- Evaluate fixed income managers for client portfolios.
- Lead manager selection and due diligence processes.
- Prepare investment memos for the Investment Committee.
- Conduct portfolio construction and market research.
- Collaborate with internal teams and external clients.
About the role
Job Description
The XIG (External Investing Group) has close to 400 professionals across 13 offices around the world, and provides manager diligence, portfolio construction, risk management, and liquidity solutions to investors, drawing on Goldman Sachs’ market insights and risk management expertise.
The XIG Public Markets team drives solutions for 75% to 90% of client asset allocation schemas in primarily daily liquidity vehicles and separate accounts covering over 1,250 investment strategies globallyin traditional asset classes across equities, fixed income, credit, and commodities. In addition, the group provides oversight for ETF, cash management, 401K, , and more services-oriented businesses (LDI and stable value).
Duties And Responsibilities
- Source and evaluate public market fixed income investment managers and strategies for use across institutional and high-net-worth client portfolios
- Lead and participate in the manager selection process, including due diligence visits and calls with new and existing fixed income strategies
- Work within smaller teams to prepare investment memorandums and present recommendations to the team’s Investment Committee
- Lead and participate in portfolio construction activities
- Write research and commentary on manager-level and market-level performance and related topics
- Lead and contribute to a range of group-wide activities including client-related investment projects, various research publications, and business development initiatives
- For all of these activities, work in conjunction with the other areas of the group and broader Firm, including the client, risk management, legal, compliance and technology teams
Qualifications
- Minimum of 7 years of experience in financial markets, investment management, and/or public markets investing
- Sound investment judgment and outstanding numerical and analytical skills
- Strong presentation and communication skills enabling the candidate to make robust recommendations to the Investment Committee and interact effectively with third parties
- Ability to work effectively as part of a team in a fast-paced, dynamic environment
- Aptitude to manage multiple tasks by demonstrating project planning, organization, and time management skills
- CFA or MBA preferred
Key skills/competency
- Fixed Income
- Investment Management
- Portfolio Construction
- Manager Selection
- Due Diligence
- Financial Markets
- Research
- Risk Management
- Analytical Skills
- Communication Skills
Skills & topics
- Fixed Income
- Investment Management
- Portfolio Construction
- Manager Selection
- Due Diligence
- Financial Markets
- Asset Management
- Investment Strategy
- Fixed Income Analysis
- Client Portfolio Management
How to get hired
- Tailor your resume: Highlight your 7+ years of experience in financial markets, investment management, and public markets investing. Emphasize your sound investment judgment and analytical skills.
- Craft a compelling cover letter: Showcase your understanding of fixed income strategies and your ability to present robust recommendations to an Investment Committee.
- Prepare for interviews: Be ready to discuss your experience in manager diligence, portfolio construction, and risk management. Practice presenting your investment recommendations clearly and concisely.
- Demonstrate teamwork: Highlight your ability to work effectively in a fast-paced, dynamic team environment and manage multiple tasks efficiently.
- Research Goldman Sachs: Understand the firm's values, market insights, and risk management expertise to align your application with their culture.
Technical preparation
Master fixed income valuation models.,Analyze manager performance data.,Develop portfolio construction scenarios.,Practice presenting investment recommendations.
Behavioral questions
Describe a complex investment challenge you solved.,How do you handle competing priorities effectively?,Share an experience of influencing an investment decision.,How do you collaborate with diverse teams?
Frequently asked questions
- What is the typical career progression for a Fixed Income Investment Manager at Goldman Sachs?
- While specific paths vary, a Fixed Income Investment Manager at Goldman Sachs can progress to Senior Manager roles, leading larger teams or managing more complex portfolios. Advancement often involves demonstrating strong investment acumen, leadership, and a consistent track record of successful client outcomes and contributions to the firm's strategic initiatives. Further specialization within fixed income or broader investment management roles are also potential avenues.
- What are the key performance indicators for a Fixed Income Investment Manager at Goldman Sachs?
- Key performance indicators for a Fixed Income Investment Manager at Goldman Sachs typically include the performance of the portfolios they manage against benchmarks, the success of manager selection and due diligence, the quality and impact of their investment recommendations to the Investment Committee, and their contributions to client satisfaction and business development initiatives. Effective risk management and adherence to compliance are also critical.
- How does Goldman Sachs approach manager diligence for fixed income strategies?
- Goldman Sachs' External Investing Group (XIG) employs a rigorous manager diligence process. This involves extensive research, including in-depth due diligence visits and calls with potential and existing fixed income managers. The team evaluates investment strategies, performance track records, risk management frameworks, operational capabilities, and team stability to ensure alignment with client objectives and the firm's high standards.
- What is the role of the Investment Committee in the Fixed Income Investment Manager role?
- The Investment Committee plays a crucial role in reviewing and approving investment recommendations made by the Fixed Income Investment Manager. The candidate will be responsible for preparing detailed investment memorandums and presenting these recommendations, supported by robust analysis and sound judgment, to the committee for their decision-making process.
- What specific types of fixed income strategies does the XIG Public Markets team focus on?
- The XIG Public Markets team covers a broad spectrum of fixed income strategies within traditional asset classes. This includes various types of bonds, credit instruments, and potentially commodities. They also manage daily liquidity vehicles and separate accounts, aiming to provide comprehensive solutions across the fixed income landscape for institutional and high-net-worth clients.
- How does the External Investing Group (XIG) differ from other investment teams at Goldman Sachs?
- The External Investing Group (XIG) at Goldman Sachs focuses on providing manager diligence, portfolio construction, risk management, and liquidity solutions to clients, drawing on the firm's broader market insights. Unlike internal portfolio management teams, XIG specializes in evaluating and utilizing external investment managers and strategies across various asset classes to build diversified client portfolios.