Asset & Wealth Management, External Investment Group (XIG), Senior Hedge Fund Op

Asset & Wealth Management: A career with Goldman Sachs Asset & Wealth Management is an opportunity to help clients across the globe realize their potential, while you discover your own. As part of one of the world's leading asset managers with over $2 trillion in assets under supervision, you can expect to participate in exciting investment opportunities while collaborating with talented colleagues from all asset classes and building meaningful relationships with our clients. Working in a culture that values integrity and transparency, you will be part of a diverse team that is passionate about our craft, our clients, and building sustainable success. Bringing together traditional and alternative investments, Goldman Sachs Asset & Wealth Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investment area within Goldman Sachs, we provide investment and advisory services for pension plans, sovereign wealth funds, insurance companies, endowments, foundations, financial advisors and individuals.

External Investing Group (XIG). XIG has over 400 professionals across 13 offices around the world, and provides investment manager diligence on non-affiliated strategies, portfolio construction, risk management, and liquidity solutions to investors, drawing on Goldman Sachs' market insights and risk management expertise.

Role Overview

We are seeking a seasoned Senior Operational Due Diligence Professional to serve as a lead in our Public Investing Operational Due Diligence program. This individual will be responsible for the end-to-end assessment of operational risk across our diverse portfolio of external hedge fund managers and will be expected to directly contribute to holistic investment decision discussions. This person plays a senior role on a global operational due diligence team with specialization in the hedge fund space. The ideal candidate possesses a deep understanding of the hedge fund business lifecycle and attributes necessary for success, spanning all major investment strategies (e.g., Multi-Strategy, Quant, Macro, Event-Driven, Credit) and global jurisdictions (Cayman, Luxembourg, Ireland, Delaware, etc.). As a senior leader, you will not only execute consequential reviews but also have a deep understanding of the ODD framework to address emerging risks, including AI-driven operational models, cybersecurity resilience, and shifting global regulatory landscapes. You will communicate directly with prospective and existing clients describing the nature of the Firm's diligence approach and selective diligence results.

Key Responsibilities

1. Initial Underwriting

• Comprehensive Reviews: Lead onsite and virtual ODD assessments of prospective and existing hedge fund managers, focusing on "C-Suite" interviews (COO, CFO, CCO, CTO). Lead fluid discussions with third-party investment advisors with particular emphasis upon the business and operational aspects of hedge funds, including, governance, financial and operational sustainability, talent management, operating models, IT architecture, trading and transactional workflows, financing and liquidity management, compliance, valuation, cybersecurity, and service providers.
• Strategy Expertise: Evaluate operational nuances across complex strategies and jurisdictions working in collaboration with investment teams for a holistic understanding of an investment opportunity.
• Risk Mitigation: Identify areas for improvement and negotiate remediation plans with fund managers as a condition for investment.

2. Ongoing Monitoring, Oversight and Research

• Ongoing Due Diligence: Actively participate in a risk-based monitoring program including annual recurring reviews and "trigger-based " reviews driven by indicators derived from observations of real-time data from hedge fund manager communications, industry developments, regulatory filings, media, and court records.
• Counterparty & Service Provider Ecosystem: Maintain a live map of the manager's critical dependencies. Coordinate "trigger-based" reviews following significant events (e.g., counterparty credit rating downgrades, cyber breaches, or leadership turnover).
• Fee and Expense Structure Tracking: Monitor and maintain a current view of accepted expense and fee structures implemented across the hedge fund industry. Track the relative economic impact of such structures upon specific hedge funds monitored.
• Remediation Tracking: Ensure that all operational notable issues identified during initial underwriting are monitored for status improvements
• Tax Impact Monitoring: Relative to US taxpayers, identify, compile, and compute the relative tax impacts inherent within hedge funds. Compare relative after-tax returns of hedge funds and identify tax efficiencies where appropriate.

3. Global Governance & Jurisdictional Oversight

• Regulatory Compliance: Maintain knowledge of global regulatory regimes (SEC, FCA, ESMA, CIMA) and their impact on fund operations.
• Structural Analysis: Review fund constitutional documents, offering memorandums, and service provider agreements to ensure alignment with market practices
• Service Provider Diligence: Conduct deep-dive assessments of third-party service providers, including administrators, prime brokers, custodians, and auditors.

3. Operational Excellence & Innovation

• Framework Evolution: Continuously work alongside other senior ODD leaders to continuously enhance the firm's ODD methodology to incorporate industry trends and evolving technologies.
• Crisis Management: Serve as the primary point of contact for operational "event" monitoring of the hedge fund industry and specific hedge funds (e.g., key man departures, trading irregularities, liquidity shortfalls, regulatory probes, or significant NAV discrepancies).
• Cross-Functional Leadership: Collaborate with broader ODD senior team, Investment Due Diligence (IDD), Legal, and Compliance teams to provide a holistic view of manager risk.

Qualifications & Requirements

• Experience: Minimum of 10-15 years in Hedge Fund ODD, Fund Operations, or specialized Audit/Consulting within the alternative investment space.
• Technical Mastery: Deep understanding of the hedge fund business model and inherent economics; the trade lifecycle; hedge fund financing practices; asset-liability modeling; NAV calculation oversight, pricing and valuation techniques used for both liquid and illiquid assets; cash management controls; and legal and compliance frameworks.
• Jurisdictional Knowledge: Proven experience navigating the legal and tax complexities of onshore and offshore fund structures globally.
• Education: Bachelor's degree in Finance, Accounting, or Law is required. Advanced degrees (MBA, JD) or certifications (CFA, CAIA, CPA) are highly preferred.
• Soft Skills: Exceptional investigative intuition, strong presence, and the ability to communicate complex operational risks and advocate for appropriate remedies within internal committees and to clients.