GBM - Private CSG, Bank Debt Portfolio Group – Letter of Credit, Vice President

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.

Bank Debt Portfolio Group (BDPG) – TERM

The Bank Debt Portfolio Group (BDPG) is a specialized team within the Transaction Execution & Risk Management (TERM). TERM operates at the intersection of the Capital Solutions Group (CSG), Leveraged Finance, and Risk. BDPG specializes in the execution and support of syndicated loans. Among a variety of roles, BDPG is also responsible for the commercial, structural, and risk-related aspects of Letters of Credit (LC) for corporate clients, where Goldman Sachs acts as the Issuing Bank.

This is a highly engaged, front-office-facing execution role. Within BDPG, it serves as the critical bridge between global deal teams, corporate clients, legal counsel, and back-office operations. This role is distinctly different from traditional LC Operations; it focuses on pre-execution structuring, legal/textual negotiation, and transactional risk management.

Role Overview

As a Vice President within the TERM group, you will help lead the structuring, negotiation, and execution of complex Letter of Credit transactions globally. You will act as the primary subject matter expert (SME) on LC mechanics, GS capabilities and textual language in credit agreements, advising global CSG deal teams and corporate clients on how to structure these instruments within broader debt facilities.

In this role, you will be expected to liaise on one side with all of the deal teams in CSG globally and their clients to help structure LCs within the context of deals and review documentation for any transaction where GS is an Issuing Bank, and on the other side with LC Operations. You will ensure that Goldman Sachs’ risk exposure as an Issuing Bank is minimized through rigorous document review and negotiation of credit agreements, security agreements, and LC texts.

Responsibilities

• Deal Structuring & Advisory: Partner with global CSG deal teams, corporate clients, and financial sponsors during the origination phase to structure LC facilities within complex debt transactions.
• Cross-Functional Liaison: Act as the single point of contact coordinating between front-office deal teams/clients on one side, and LC Operations on the other, translating complex structured deals into clear, executable operational instructions.
• Documentary Risk Management: Review, draft, and negotiate the specific "textual language" of standby LCs to protect Goldman Sachs from operational, legal, and financial risks (e.g., auto-drawing traps, unmanageable evergreen clauses, and ambiguous payment conditions).
• Credit & Security Agreement Negotiation: Review and markup the LC-related sections of Credit Agreements, Security Agreements, and Cash Deposit/Collateral Agreements to ensure robust reimbursement mechanics and perfected security interests.
• Global Jurisdictional Compliance: Ensure all issued instruments comply with local laws and regulatory frameworks across the US, Europe, Asia, and other global jurisdictions.
• Industry Standards Governance: Apply deep expertise in international trade finance frameworks, ensuring all transactions align with ISP98, UCP600, and URDG758 standards.

Basic Qualifications

• Education: Bachelor’s degree in Finance, Economics, Law, or a related field (JD or MBA is a plus).
• Experience: Minimum of 6–8+ years of experience in structured trade finance, debt capital markets, leveraged finance, or a specialized legal role focusing on letters of credit and bank guarantees.
• Candidate needs to know the details of LC and bank guaranty issuance, processing and textual language in the US and jurisdictions around the world, as well as ISP, UCP and URDG.
• Candidate should have a comprehensive understanding of both (a) a variety of bank loan structures (Leveraged Finance (LevFin), Investment Grade (IG), Real Estate (RE) financing, Bilateral (BiLat) facilities, and Cash Collateralized structures) and (b) all of the documentation around those deals (credit agreement, security agreements, cash deposit, LC text).
• Deep, authoritative knowledge of ISP98 (International Standby Practices), UCP600 (Uniform Customs and Practice for Documentary Credits), and URDG758 (Uniform Rules for Demand Guarantees).
• Proven track record of reviewing and negotiating complex legal documentation, including Credit Agreements, Security Agreements, Cash Deposit Agreements, and bespoke LC texts.

Salary Range

The expected base salary for this New York, New York, United States-based position is $150000-$300000. 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.