Asset & Wealth Management, Wealth Management Risk Team, Regional Risk Manager, Associate - Dallas

JOB SUMMARY & RESPONSIBILITIES

YOUR IMPACT

Are you a strategic thinker with a strong work ethic, desire to work within a growing global business, and ability to think outside the box? Associates on the Wealth Management Risk Team will gain exposure and access to senior managers in PWM, build expertise in business analysis and project management/execution, and develop a deeper understanding of the PWM business on a macro level. The team is seeking a candidate who has the ability to thrive in a fast-paced environment where attention to detail, strong communication skills, and passion for working with others are essential to maintaining and enhancing our business.

OUR IMPACT

Private Wealth Management (PWM) secures, develops and manages relationships with high-net-worth individuals, their families, family offices and foundations. PWM assists clients with building and preserving their financial wealth by creating and implementing long-term asset allocation within the context of each client’s particular risk tolerance and by providing access to innovative investment ideas and opportunities. PWM professionals develop customized investment strategies and offer a full array of wealth management products and services, including private banking and trust company services.

The Regional Risk Manager (RRM) role is an in-business risk function (1st line) responsible for proactively identifying and mitigating risks – including, but not limited to economic, operational, and reputational risks – inherent to our PWM business. They will work closely with US PWM Management, Regional Management Teams, Regional Compliance Managers, and PWM teams to review and advise on various supervisory activities. Additionally, the candidate will play an instrumental role in ensuring the PWM business responds to the dynamic global regulatory environment.

HOW YOU WILL FULFILL YOUR POTENTIAL

Review and analyze current and proposed client portfolios from a risk and suitability perspective, including account activity, transaction history, and client communication

Proactively identify inconsistencies between client account activity as compared to internal investment policy guidelines, the client’s stated investment objectives, risk tolerance and portfolio goals, and work with PWM team to address appropriately

Keep PWM teams apprised of regulatory changes and their potential impact to the PWM business while also educating PWM personnel on internal policies

Collaborate with PWM teams, Product teams, and the Strats team to identify accounts posing excessive economic risk to the client or the firm. Advise Private Wealth Advisors (PWAs) on how to communicate and address potential issues with clients and, where necessary, set risk thresholds

Ensure that client profile changes, portfolio reviews, and noteworthy account activities are documented appropriately through investment and relationship notes

Collaborate with Compliance, Legal to review, assess risks, and make business decisions regarding potential non-traditional business opportunities

Report at PWM Risk Working Group meetings on accounts with highest levels of risk. Collaborate with Working Group members and PWM teams to develop and implement risk mitigation recommendations by creating customized risk reports for client presentation purposes and establishing/imposing risk thresholds when appropriate

Partner with Compliance and Legal to respond to regulatory and audit requests

Participate in various regional supervisory reviews of PWM accounts

Work with Strats team to develop specific risk analytics/reporting to be used internally and/or externally with clients

Report regularly to the US PWM Management Team and PWM Regional Management Teams in each coverage office, keeping them apprised of key client and business risks, and the steps being taken to mitigate them

WHERE WILL YOU MAKE AN IMPACT

Our Private Wealth Management business spans the globe, and you will be working with individuals in the following locations in the United States: Atlanta, Boston, Chicago, Dallas, Houston, Los Angeles, New York, Miami, Philadelphia, San Francisco, Seattle, Washington, D.C. and West Palm Beach.

QUALIFICATIONS

EXPERIENCE & SKILLS WE’RE LOOKING FOR

Minimum of 3 years of experience in a financial organization, preferably in the private wealth high net worth area or a compliance/risk function

Working knowledge of products typically held in private wealth management accounts including structured products and derivatives

Outstanding analytical skills; ability to work with detailed financial or other data and understand and communicate commercial implications

Exceptional communication and interpersonal skills; confidence to work closely with senior management

Highly organized with attention to detail and excellent follow-through

Ability to manage multiple projects simultaneously and independently, and think clearly under pressure while maintaining strong attention to detail

Track record of team-oriented success

Good judgment and discretion

Periodic travel to PWM Regional Offices may be required (~0-5% of the time)

Series 7, 63 and SIE required (or must be obtained within 6 months of employment)

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. 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. : https://www.goldmansachs.com/careers/footer/disability-statement.html

© The Goldman Sachs Group, Inc., 2023. All rights reserved.

We Offer Best-In-Class Benefits

Healthcare & Medical Insurance

We offer a wide range of health and welfare programs that vary depending on office location. These generally include medical, dental, short-term disability, long-term disability, life, accidental death, labor accident and business travel accident insurance.

Holiday & Vacation Policies

We offer competitive vacation policies based on employee level and office location. We promote time off from work to recharge by providing generous vacation entitlements and a minimum of three weeks expected vacation usage each year.

Financial Wellness & Retirement

We assist employees in saving and planning for retirement, offer financial support for higher education, and provide a number of benefits to help employees prepare for the unexpected. We offer live financial education and content on a variety of topics to address the spectrum of employees’ priorities.

Health Services

We offer a medical advocacy service for employees and family members facing critical health situations, and counseling and referral services through the Employee Assistance Program (EAP). We provide Global Medical, Security and Travel Assistance and a Workplace Ergonomics Program. We also offer state-of-the-art on-site health centers in certain offices.

Fitness

To encourage employees to live a healthy and active lifestyle, some of our offices feature on-site fitness centers. For eligible employees we typically reimburse fees paid for a fitness club membership or activity (up to a pre-approved amount).

Child Care & Family Care

We offer on-site child care centers that provide full-time and emergency back-up care, as well as mother and baby rooms and homework rooms. In every office, we provide advice and counseling services, expectant parent resources and transitional programs for parents returning from parental leave. Adoption, surrogacy, egg donation and egg retrieval stipends are also available.

Benefits at Goldman Sachs about the full suite of class-leading benefits our firm has to offer.

Opportunity Overview

CORPORATE TITLEAssociate

OFFICE LOCATION(S)Dallas

JOB FUNCTIONFinancial Risk

DIVISIONAsset & Wealth Management