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

JOB SUMMARY & RESPONSIBILITIES

YOUR IMPACT

Are you a strategic thinker with a strong work ethic, desire to work within a growing global business, and ability to think outside the box?  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 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.

OUR IMPACT 

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. 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 the client, investment product, and platform related risks of the WM business.  We are looking for an analytical and quantitative Senior Analyst / Junior Associate to join our team, based in New York.

This role focuses on understanding our / our client’s risk to financial markets (e.g. equities, credit, FX etc) and advising on frameworks to help manage these risks.

You will work closely with US, EMEA, and Asia PWM Management Teams, Credit / Market Risk Officers, PWM Product Specialists and Private Wealth Advisors to review and advise on various activities.

HOW YOU WILL FULFILL YOUR POTENTIAL 

Review and analyze client portfolios from a financial risk perspective, including:

• Portfolio Construction and Product Performance Risk: Underperformance that may impair our client relationships.

• Investment Manager Risk: selection and performance monitoring of individual Asset Managers (internal and external).

• Credit Risk: the risk to GS from client default on their obligations using derivatives and / or borrowing.

Key Activities

Using analytics and tools for daily ongoing monitoring of clients’ portfolios’ financial performance vs. our limit frameworks and other key metrics:

• Product and Portfolio Performance Indicators – are they performing in line with expectations?

• Client Risk Tolerance and Suitability Limits – are clients’ portfolios and products in line with their stated risk appetite and investment experience?

• Margin Calls - reviewing swings in client portfolio values that may drive margin calls and scanning our overall universe of accounts to find similar exposures.

• Portfolio Stress Testing Limits – Ensuring any limit breaches are understood, actioned, and escalated as needed.

• Escalating potential issues and/or discussing other related topics within internal risk forums, as well as sharing findings with senior management.

• Contribute to our regular portfolio reviews with senior PWM management – deep and wide-ranging analysis on our clients’ portfolios and our corresponding credit exposures.

• Analysis and implementation of improvements to our risk management methodologies, frameworks, and infrastructure.

• Work with Strats team to develop specific risk analytics/reporting to be used internally and/or externally with clients.

WHERE YOU WILL MAKE AN IMPACT

Our Private Wealth Management business spans the globe, and you will be working with individuals in all three regions.

QUALIFICATIONS

EXPERIENCE & SKILLS WE’RE LOOKING FOR

• Minimum of 2 years of experience in a financial organization, preferably in the private wealth high net worth area, portfolio management, or a Credit/Market Risk function.

• Good base of derivatives knowledge – pricing, risk management of structured products, options and more exotic derivatives.

• Exposure to core market risk analysis and management topics, e.g., VaR and Stress Testing.

• Exposure to Margin / Collateral Management systems. Direct knowledge of US Margin Regulations desirable.

• 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

• Good judgment and discretion