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

Goldman Sachs•Dallas, TX

15h•Onsite

About The Position

The Wealth Management Risk 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. 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.

Requirements

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

Nice To Haves

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

Responsibilities

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