Wealth Management, Operations, Client Onboarding & Configuration, 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 Private Wealth Management Operations

Are you looking to apply your analytical skills while deepening your understanding of Private Wealth Management (PWM)? Our Client Onboarding (COB) team is seeking a professional who is looking to collaborate with Legal, Management, Compliance and AML Compliance to mitigate risks associated with the onboarding of new PWM clients.

Operations is a dynamic, multi-faceted division that partners with all parts of the Firm to deliver banking, sales and trading and asset management capabilities to clients around the world.

PWM Operations supports PWM Private Wealth Advisors (PWA) globally. PWAs are responsible for advising ultra-high net worth individuals on strategies to build and protect their financial assets through customized advice and services.

PWM Operations is instrumental in meeting our clients' needs and is responsible for several key processes which include asset transfers, client servicing, execution services, account opening, performance measurement, and reporting of Goldman-custodied assets and away-custodied assets.

Job Responsibilities

The PWM COB Team is responsible for reviewing Account Onboarding and Maintenance documentation to ensure they meet regulatory requirements. The team plays a key role in safeguarding the firm by performing the following functions:

• Understand the different client account structures and legal documentation required to establish new accounts.
• Review the accuracy and completeness of account documentation and ensure all required signatures have been obtained.
• Ensure organizational documents are obtained in accordance with firm policy and regulatory requirements.
• Perform data input into the system for proper account setup.
• Ensure suitability review has been completed.
• Identify red flags at the client onboarding stage.
• Partner with AML Compliance to ensure new policies and regulations are fully implemented within Global PWM.
• Be vigilant in due diligence reviews of new client screening for AML & Know Your Client requirements.
• Request products (options, margin, etc.) for the respective PWM client accounts.
• Ensure downstream systems correctly recognize approved products and services, including Cash products, Client Statement and Performance reporting.
• Resolve issues through coordination with PWM Teams, PWM Compliance, and PWM Legal.
• Ensure the updated documentation is properly stored in the central documents depository for completeness.
• Continuously identify and implement process improvements.

Qualifications

• Bachelor’s degree.
• 3+ years financial industry experience in AML or other Client Onboarding Regulatory experience.
• Highly motivated and results-oriented.
• High level of self-initiative to challenge and improve processes.
• Strong understanding of risk and control framework in operations.
• Strong interpersonal skills to establish Business and Federation relationships.
• Able to manage multiple tasks or projects and meet deadlines effectively.
• Strong team player who is able to work under pressure.