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

Goldman Sachs · Dallas, TX · Today
SalesFull-time

About the role

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.

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.

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
  • 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

Qualifications

  • 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)

Skills

The ideal candidate will have strong analytical skills, attention to detail, and excellent communication and interpersonal skills.

Benefits

Goldman Sachs offers a range of benefits, including training and development opportunities, firmwide networks, benefits, wellness and personal finance offerings, and mindfulness programs.

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