Awm – Private Bank - Capital Call Financing Underwriting, Dallas

Our Impact

Wealth Management 

Across Wealth Management, Goldman Sachs helps empower clients and customers around the world to reach their financial goals. Our advisor-led wealth management businesses provide financial planning, investment management, banking and comprehensive advice to a wide range of clients, including ultra-high net worth and high net worth individuals, as well as family offices, foundations and endowments, and corporations and their employees. Our consumer business provides digital solutions for customers to better spend, borrow, invest, and save. Across Wealth Management, our growth is driven by a relentless focus on our people, our clients and customers, and leading-edge technology, data and design.

Goldman Sachs Private Bank

Goldman Sachs Private Bank provides competitive borrowing and cash management solutions from Goldman Sachs Bank USA that are strategically integrated with our client’s wealth management goals.  Our experienced team partners with PWAs to advise clients on new loans, refinancing and restructuring of existing loans along with overall liability management.  Our lenders and mortgage specialists provide a wide range of creative borrowing solutions against asset classes ranging from marketable securities and alternative investments, residential and commercial real estate to more tailored solutions against private assets such as aviation, fine art or vineyards.  All team members are employees of Goldman Sachs Bank, USA. 

Your Impact

As a member of the Capital Call Financing Underwriting team, you will play an integral role in evaluating, structuring, executing, and monitoring credit solutions for private equity sponsors and fund managers.

You will analyze fund sponsors and limited partner collateral, evaluate the risk and economics of proposed transactions, develop financial and borrowing base models, and prepare credit recommendations. You will partner with clients, Credit Risk Management, Private Wealth Management teams, and other Goldman Sachs Bank USA stakeholders to deliver solutions that address client needs while remaining within the Bank’s risk parameters.

Depending on experience and level, you will support or lead the underwriting process, advise on transaction structures, and manage ongoing portfolio responsibilities. More experienced professionals will independently lead complex transactions, provide subject-matter expertise, influence underwriting standards, and mentor junior team members. 

Key Responsibilities

Credit Analysis, Underwriting and Structuring

• Support or lead the underwriting of capital call, subscription, and other fund-level credit facilities.
• Evaluate the credit, business, and economic implications of proposed transactions using financial, analytical, and technical judgment.
• Conduct due diligence on private equity funds and sponsors, including track records, financial performance, investment strategies, limited partners, private placement memoranda, and limited partnership agreements.
• Analyze funds across strategies such as buyout, real estate, infrastructure, and other alternative investments.
• Evaluate the quality and diversification of limited partner collateral and assess the implications for the facility’s borrowing base and overall credit profile.
• Build and maintain borrowing base certificates, credit models, financial analyses, and stress scenarios.
• Evaluate complex or structured loan proposals and develop credit solutions that address client objectives while remaining within acceptable risk parameters.
• Document proposed loan structures, risk considerations, mitigants, and recommendations for credit approval and file documentation purposes. 

Transaction Execution and Partnership

• Partner with clients, Credit Risk Management, Private Wealth Management teams, Legal, Operations, and Goldman Sachs Bank USA stakeholders to facilitate timely credit approval and execution.
• Coordinate transaction diligence, credit approvals, legal documentation, policy reviews, and closing requirements.
• Ensure that loan documentation accurately reflects approved terms and that appropriate risk ratings are assigned to each transaction.
• Communicate underwriting requirements, transaction considerations, risks, and outstanding items clearly to internal and external stakeholders.
• Manage multiple transactions and priorities while maintaining strong organization, accountability, and attention to detail. 

Portfolio and Risk Management

• Monitor ongoing compliance with covenant, collateral, and borrowing base requirements.
• Review fund, sponsor, and limited partner developments that could affect transaction performance or credit quality.
• Ensure that credit approvals, policy exceptions, and risk mitigants are appropriately documented.
• Maintain complete and accurate credit files consistent with internal underwriting standards and regulatory expectations.
• Support the broader Goldman Sachs Bank USA loan portfolio and interactions with banking regulators as needed. 

Product Expertise and Underwriting Standards

• Develop and maintain a strong understanding of Capital Call Financing products, fund structures, and relevant market practices.
• Apply consistent underwriting practices and ensure adherence to standards prescribed in the Lending Guide.
• Stay informed about developments affecting private equity sponsors, fund finance structures, limited partner collateral, and alternative asset strategies.
• Contribute to the development and enhancement of underwriting practices, portfolio monitoring, and transaction execution processes. 

Leadership and Team Development

• Contribute to a collaborative, client-focused culture grounded in sound credit judgment, disciplined execution, and effective risk management.
• Share product knowledge and transaction insights with junior colleagues and cross-functional partners.
• At the Vice President level, independently lead complex or structured transactions and advise stakeholders on credit solutions and risk considerations.
• At the Vice President level, mentor junior team members and provide guidance on fund analysis, financial modeling, transaction structuring, and credit documentation.
• At the Vice President level, help promote consistency in underwriting standards and contribute to broader business and process-improvement initiatives.

Qualifications

Associate

• 3 to 6 years of relevant experience in underwriting, fund finance, lending, commercial banking, private banking, investment banking, investor relations, private equity, credit analysis, or a related field.
• Working knowledge of fund finance, private equity structures, or alternative investment strategies.
• Strong financial accounting, analysis, and modeling skills.
• Ability to analyze fund sponsors, limited partners, loan structures, and transaction risks.
• Strong written and verbal communication skills.
• Demonstrated project management, organization, and multitasking capabilities.
• Ability to work collaboratively in a dynamic and growing business.

Vice President

• 7 or more years of relevant experience in underwriting, fund finance, lending, commercial banking, private banking, investment banking, investor relations, private equity, credit, or a related discipline.
• Strong understanding of fund finance and demonstrated experience evaluating private equity funds, sponsors, limited partners, and structured credit facilities.
• Advanced financial accounting, credit analysis, and modeling capabilities.
• Demonstrated ability to independently assess transaction risks, develop appropriate credit solutions, and communicate recommendations to senior stakeholders.
• Ability to manage complex transactions and coordinate effectively across clients, Risk, Legal, business teams, and other Bank stakeholders.
• Demonstrated leadership through transaction ownership, mentorship, cross-functional influence, or improvements to underwriting practices

About Goldman Sachs At Goldman Sachs, we commit our people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Founded in 1869, we are a leading global investment banking, securities and investment management firm. Headquartered in New York, we maintain offices around the world.

We believe who you are makes you better at what you do. We're committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally, from our training and development opportunities and firmwide networks to benefits, wellness and personal finance offerings and mindfulness programs. Learn more about our culture, benefits, and people at GS.com/careers.

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Goldman Sachs is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, national origin, age, veterans status, disability, or any other characteristic protected by applicable law.

Benefits
Goldman Sachs is committed to providing our people with valuable and competitive benefits and wellness offerings, as it is a core part of providing a strong overall employee experience. A summary of these offerings, which are generally available to active, non-temporary, full-time and part-time US employees who work at least 20 hours per week, can be found here.