Compliance, Financial Crime Compliance, Government Sanctions, Associate

About Goldman Sachs

At Goldman Sachs, we connect people, capital and ideas to help solve problems for our clients. We are a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals.

About Our Roles in Compliance

The Global Compliance division prevents, detects and mitigates compliance, regulatory and reputational risk across the firm and helps to strengthen the firm’s culture of compliance. Compliance accomplishes these through the firm’s enterprise-wide compliance risk management program. As an independent control function and part of the firm’s second line of defense, Compliance assesses the firm’s compliance, regulatory and reputational risk; monitors for compliance with new or amended laws, rules and regulations; designs and implements controls, policies, procedures and training; conducts independent testing; investigates, surveils and monitors for compliance risks and breaches; and leads the firm’s responses to regulatory examinations, audits and inquiries. You'll be part of a team with members from a wide range of academic and professional backgrounds, such as law, accounting, sales, and trading. We look for those who possess sound judgment, curiosity, and are able to adapt to a changing regulatory landscape.

Goldman Sachs is seeking an Associate in the firm’s Government Sanctions Group to be based in Singapore. As part of the firm’s Global Compliance Division, the Government Sanctions Group ensures the firm’s compliance with the sanctions programs administered by the Office of Foreign Assets Control (OFAC) at the U.S. Department of the Treasury, the Office of Financial Sanctions Implementation (OSFI) at the UK’s Her Majesty’s Treasury, and other relevant sanctions authorities globally. Reporting to a Sanctions Vice President in Singapore, the employee will serve as a subject matter expert on government sanctions and assist in the oversight of the firm’s enterprise-wide sanctions screening and other control processes.

The ideal candidate would have proven time management skills, a strong attention to detail, written and oral communication skills, investigative skills, and the ability to collaborate within a global team. The employee will assist in the identification of sanctions risk across the firm’s lines of business and work with regional Compliance, Operations, and Technology teams to administer and provide oversight of risk mitigation processes.

Responsibilities:

• Conduct reviews of sanctions-related alerts and escalations that result from the firm’s sanctions control frameworks (e.g., transactional/referential data screening, products screening, EDD/KYC escalations, etc.)
• Identify, manage and escalate potential sanctions matters to Sanctions management in a timely and precise manner
• Work under the supervision of experienced Sanctions Vice Presidents, liaise with business, operations, and technology divisions to collect information relevant to potential sanctions concerns, and provide sanctions-related advice to internal constituencies in line with policy and regulatory requirements
• Ensure metrics, deadlines, and record-keeping obligations established by management are met
• Assist in the development and enhancement of sanctions-related policies and procedures documents across the firm’s lines of business
• Work with regional FCC teams to update and implement sanctions-related controls framework
• Enhance and deliver sanctions training to Goldman Sachs employees
• Assist with internal audits and regulatory examinations related to sanctions compliance
• Support periodic sanctions risk assessments and testing to evaluate the effectiveness of the sanctions program

Qualifications:

• Bachelor's degree
• Sanctions-related experience in the financial services industry or relevant government agency/regulator is a plus
• Strong understanding of US OFAC as well as UK, EU and SG MAS sanctions regulations
• Strong written, oral and interpersonal communication skills
• Ability to handle multiple priority projects at once and deliver consistently high-quality results
• Ability to be a self-starter and to ensure projects are followed through to completion
• Strong proficiency with Microsoft Excel, and an aptitude for learning new systems and applications
• Team oriented
• Highly organized with excellent research and analytical skills
• Experience with sanctions screening tools (e.g., Fircosoft and WorldCheck)
• Fluency in Mandarin (including reading simplified Chinese) due to dealing with Mandarin speaking clients regarding Chinese Markets, financial products and technical regulations