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Full-time
Training And Development Opportunities, Firmwide Networks, Wellness Programs, Personal Finance Offerings, Mindfulness Programs
Posted 51d ago
~40 hrs/week
Responsibilities
The Regional Risk Manager is responsible for proactively identifying and mitigating economic, operational, and reputational risks within the Private Wealth Management business. This includes analyzing client portfolios for suitability and collaborating with compliance and legal teams to ensure regulatory adherence.
Requirements
Candidates need a minimum of 3 years of experience in a financial organization, specifically within private wealth or risk/compliance functions. Required certifications include Series 7, 63, and SIE, or the ability to obtain them within six months.
Full job description
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. Learn more about our culture, benefits, and people at GS.com/careers.
Goldman Sachs is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, national origin, age, veterans status, disability, or any other characteristic protected by applicable law.
We aspire to be the world’s most exceptional financial institution, united by our shared values of partnership, client service, integrity, and excellence.
Operating at the center of capital markets, we act as one firm, mobilizing our people, capital, and ideas to deliver superior results across our clients’ most complex challenges.
For 157 years, Goldman Sachs has delivered world-class execution on a global scale across our leading Global Banking & Markets and Asset & Wealth Management businesses.
Apprenticeship is central to our culture, with hands-on coaching and access to leaders who bring decades of experience and expertise. With office locations around the world, we offer a broad range of career opportunities to those who insist on excellence and thrive on performance.
Find our Social Media Disclosures here: gs.com/social-media-disclosures
Offices: 200 West Street, New York, New York 10282, US
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