Asset & Wealth Management, PWM, Global Risk Management Team, Associate - New York

About the Role

Wealth Management Financial Risk Management Team members will gain exposure and access to senior managers in PWM, build expertise in risk analysis and risk management, and develop a deeper understanding of the WM business on a macro level. The team is seeking a candidate who thrives in a fast-paced environment where attention to detail, strong communication skills, and a passion for collaboration are essential to maintaining and enhancing our business.

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 financial wealth by creating and implementing long-term asset allocation strategies tailored to each client’s risk tolerance and 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 WM Risk Management team is the 1st Line Risk Management In-Business function that provides analysis, review, and management of client, investment product, and platform-related risks for the WM business. This role focuses on understanding financial market risks (e.g., equities, credit, FX) and advising on frameworks to manage these risks. You will collaborate with PWM Management Teams, Credit/Market Risk Officers, PWM Product Specialists, and Private Wealth Advisors across the U.S., EMEA, and Asia.

Responsibilities

• Review and analyze client portfolios from a financial risk perspective, including:
  • Portfolio Construction and Product Performance Risk: Identify underperformance that may impair client relationships.
  • Investment Manager Risk: Monitor the selection and performance of individual Asset Managers (internal and external).
  • Credit Risk: Assess the risk to Goldman Sachs from client default on obligations involving derivatives and/or borrowing.
• Perform daily ongoing monitoring of clients’ portfolios using analytics and tools to evaluate:
  • Financial performance against limit frameworks and key metrics.
  • Product and portfolio performance indicators to ensure alignment with expectations.
  • Client risk tolerance and suitability limits to confirm portfolios match stated risk appetite and investment experience.
  • Margin calls by reviewing swings in client portfolio values and scanning for similar exposures across accounts.
  • Portfolio stress testing limits to ensure breaches are understood, actioned, and escalated as needed.
• Escalate potential issues and discuss findings within internal risk forums, sharing insights with senior management.
• Contribute to regular portfolio reviews with senior PWM management, providing deep and wide-ranging analysis of clients’ portfolios and corresponding credit exposures.
• Analyze and implement improvements to risk management methodologies, frameworks, and infrastructure.
• Collaborate with the Strats team to develop specific risk analytics and reporting for internal and external client use.

Qualifications

• Minimum of 2 years of experience in a financial organization, preferably in private wealth/high-net-worth areas, portfolio management, or a Credit/Market Risk function.
• Strong derivatives knowledge, including pricing and risk management of structured products, options, and exotic derivatives.
• Exposure to core market risk analysis and management topics, such as VaR and stress testing.
• Experience with Margin/Collateral Management systems; knowledge of U.S. Margin Regulations is desirable.
• Outstanding analytical skills with the ability to work with detailed financial data and communicate commercial implications effectively.
• Exceptional communication and interpersonal skills, with confidence to engage closely with senior management.
• Highly organized, detail-oriented, and capable of excellent follow-through.
• Strong judgment and discretion.

Pay

The expected base salary for this New York, NY-based position is $85,000–$160,000. Eligibility for a discretionary bonus may apply if you are an active employee as of fiscal year-end.

Benefits

Goldman Sachs offers competitive and valuable benefits and wellness programs as part of a strong overall employee experience. These offerings are generally available to active, non-temporary, full-time, and part-time U.S. employees who work at least 20 hours per week. Benefits include health coverage, retirement plans, and other wellness initiatives.