• CIMD, PWM, Global Risk Management Team, Regional Risk Manager, Associate/Vice President

    Location(s) US-NY-New York | US-PA-Philadelphia | US-DC-Washington | US-FL-Miami | US-MA-Boston
    Job ID
    2019-56141
    Schedule Type
    Full Time
    Level
    Associate, Vice President/Executive Director
    Function(s)
    General, Investment Management, Private Wealth Management, Risk Management
    Region
    Americas
    Division
    Consumer and Investment Management Division
    Business Unit
    Global PWM Risk Management
    Employment Type
    Employee
  • MORE ABOUT THIS JOB

    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/Vice Presidents on the Global Risk Management 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.

     

    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.

    RESPONSIBILITIES AND QUALIFICATIONS

    The Regional Risk Manager (RRM) will be 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 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 the internal policies and controls designed to comply with such changes
    • 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, and AML 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  
    • Coordinate regular reviews of account types with heightened supervisory requirements
    • Partner with Compliance and Legal to respond to regulatory and audit requests
    • Manage and participate in various regional supervisory reviews of PWM accounts, including the Annual Account Review
    • 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 2 years of experience in a financial organization, preferably in the private wealth high net worth are or a compliance/legal function
    • Experience in risk analysis and management and/or regulatory reform strongly preferred
    • 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 required
    • Series 7, 9, and 10 required (must be obtained within 6 months of employment)

    ABOUT GOLDMAN SACHS

    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.