Credit Risk - Private Wealth Management

RISK

Our Risk division develops comprehensive processes to monitor, assess, and manage the risk of expected and unexpected events that may have an adverse impact on the firm. Risk professionals execute critical day-to-day risk management activities, lead projects, and contribute to the ongoing advancement of a robust risk management program. Effective coordination with executive management, business units, control departments and technology is critical for success.

TEAM & ROLE OVERVIEW

How would you like to be involved in a central part of Goldman Sachs' risk management framework? We are looking for a highly motivated individual who is able to deliver credit risk analysis, on the basis of a thorough understanding of credit fundamentals and risks associated with Private Wealth lending and derivatives products. You will play a key role in the credit risk management function supporting the EMEA Private Wealth team. 

Credit Risk, a department within the Risk business, works closely with Asset and Wealth Management, Global Banking and Markets and other functions of the control businesses to manage Goldman Sachs’ credit risk. Credit professionals protect the firm’s capital by using in-depth knowledge of our clients credit fundamentals, credit risk mitigants, lending and trading products to make decisions on acceptable level of firm’s risk appetite. Staffed with ~350 professionals, Credit Risk operates through 10 different offices around the world and is organized by different industry groups including Corporates, Funds, Financial Institutions, Asset Financing and Private Client. Credit Risk provides a unique opportunity to develop a variety of professional skills and expertise in risk management while working on financial transactions. 

The role is based in our Frankfurt office, where the Credit Risk team is divided into:

Private Clients coverage (Private Bank lending, margined counterparty risk including derivatives and related products, portfolio coverage) responsibilities)

Corporates Coverage (TMT, Consumer, Retail, Healthcare, Diversified Industrials, Natural Resources, Real Estate)

Funds Coverage (Mutual Funds, Hedge Funds, Pension Funds, Private Equity Funds)

Financial Institutions Coverage (Banks, Brokers Dealers, Insurers, Asset managers, Non-banking Financial Institutions, Sovereign related entities)

Product Analysis and Control Team (Macro and Micro Products, Franchise and Prime Products with a particular focus on Derivatives)
 

RESPONSIBILITIES

• Assess the credit and financial strength of the firm's private client borrowers and risk counterparts by performing fundamental credit analysis using both quantitative and qualitative factors.
• Review private client lending transactions, determine fit with risk appetite and approve counterparty risk ratings, having developed an independent view of financial information, collateral terms and key documentation protections proposed.
• Support senior credit team members in the review and escalation of large lending transactions including through to capital committee. Participate in business selection committee meetings.
• Co-ordinate closely with junior team members on transactions, client margin terms, product risk analysis and new policy/product initiatives.
• Coordinate with PWM business teams, PWM legal, Operations, Compliance departments to approve derivatives business, margin terms, approve exceptions and ensure appropriate documentation, limits and risk mitigants to protect against a counterpart default and minimize potential losses.
• Analyze the risks inherent in the products GS transacts, including lending, trading and derivative products.
• Perform regular portfolio reviews and industry exposure reviews.

EXPERIENCE REQUIRED

• Minimum of 8 years of credit risk management experience, with a solid background in private client credit risk.
• Significant experience in private banking/private client credit products including margin lending, mortgages, structured loans and derivatives.
• Demonstrable track record of independent decision making and the ability to steer client and business negotiations.
• Strong legal documentation (loan and/or derivatives), analytical, presentational and communication skills required.
• Must be able to lead and motivate an engaged and diverse deal team, providing guidance to and supervision of junior members of the team.
• Must be able to communicate with the most senior levels within GS, both inside & outside of Credit risk.

COMPETENCIES

• Technical Skills - Demonstrates strong technical skills required for the role, pays attention to details, takes initiative to broaden his/her knowledge and demonstrates appropriate financial/analytical skills
• Drive and Motivation - Successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards challenging goals and persists in the face of obstacles or setbacks
• Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with internal clients, helps the client to identify/define needs and manages business expectations around risk situations.
• Teamwork – demonstrates characteristics of a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions.
• Communication Skills - Communicates what is relevant and important in a clear and concise manner, shares information/new ideas with others, and demonstrates judgment to escalate as appropriate
• Judgment and Problem Solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives. Sees the big picture and effectively analyses complex issues
• Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value