Consumer and Investment Management (CIMD)
The Consumer and Investment Management Division includes Goldman Sachs Asset Management (GSAM), Private Wealth Management (PWM) and our Consumer business (Marcus by Goldman Sachs). We provide asset management, wealth management and banking expertise to consumers and institutions around the world. CIMD partners with various teams across the firm to help individuals and institutions navigate changing markets and take control of their financial lives.
Goldman Sachs Private Wealth Management (PWM) specializes in creating comprehensive wealth management plans for high net worth individuals and families, as well as select institutions, including foundations and endowments. PWM Teams work one-on-one with clients to advise and deliver customized strategies drawn from our deep investment experience, diverse wealth management capabilities and global reach. Our Private Wealth Advisors (PWAs) deliver an unparalleled investment platform inclusive of the full product and service offerings of Goldman Sachs and beyond, which may include tax and estate planning, philanthropic planning and private banking and lending services. As client needs evolve, this close relationship allows the team to offer complementary services and new opportunities by leveraging the resources of Goldman Sachs and beyond.
Job Summary and Responsibilities
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.
Private Lending Underwriting (PLU), based in Dallas, TX, is primarily responsible for the underwriting of loans to GS Private Wealth Management (PWM) clients. In this capacity, PLU assesses, underwrites, documents and monitors the credit risk incurred in loan transactions. The underwriting process includes a thorough analysis of the collateral securing the loan (if any), which may include assets such as marketable securities, private equity/hedge funds, commercial real estate, aircraft, fine art, hobby properties, private company stock, yachts, etc.
PLU also ensures that the underwriting standards approved by the bank are adhered to in the loan approval process, with exceptions appropriately documented. In addition, PLU participates in various business related projects, such as new product development and operational enhancements.
Private Lending is a part of GS Private Bank (PB), which is a business initiative of Goldman Sachs. PLU employees are employees of Goldman Sachs Bank USA.
*Background in mortgage underwriting not relevant for this role
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
© The Goldman Sachs Group, Inc., 2019. All rights reserved Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Vet.