Compliance, Private Wealth Management Compliance Advisory & Regulatory Audit Management for GSBE, Vice President, Frankfurt

OUR IMPACT

YOUR IMPACT

We are looking for a VP-level candidate to join the Compliance team in Goldman Sachs Bank Europe SE (GSBE), our EU hub. 

The roles is based in Frankfurt, reporting to the local Divisional lead and focussing on Compliance Advisory topics as well as management of the GSBE external regulatory audits carried out by BaFin to evaluate the effectiveness of the firm's internal controls, risk management, and governance. 

Responsibilities include advising sales teams in different branches in regulatory topics, supporting regulatory projects, proactively managing and executing external audit engagements, collaborating with business stakeholders and other control functions, identifying and reporting control issues, and developing recommendations to strengthen internal controls, prevent and remediate findings as appropriate. The roles will also ensure appropriate integration of GSBE branches into the wider Divisional Compliance programme and control plan.

The roles require analytical skills, a strong understanding of regulations, risk and controls, and the ability to work both independently and as part of a global team. 

JOB SUMMARY & RESPONSIBILITIES 

The roles will advise sales teams on regulatory questions and interpretation of certain policies and procedures. In addition, the successful candidate proactively manage GSBE regulatory audits, interacting with a number of stakeholders and team members based in London, Frankfurt, Paris, Milan and Warsaw. The roles will closely interact with Divisional Compliance management and with the Head of GSBE Compliance to ensure transparent communication and effectively managed interactions with local regulators and exchanges. 

KEY RESPONSIBILITIES:

• Providing Compliance advice and support to PWM identifying and managing Compliance, regulatory and reputational risks in GSBE’s PWM business
• Development and implementation of compliance-related policies and procedures
• Providing Compliance input in product design and approval processes for the GSBE’S PWM business
• Managing compliance-led projects and representing PWM Divisional Compliance on firmwide and cross regional projects and working groups
• Impact analysis and implementation of regulatory changes affecting the PWM business
• Providing support for/ responding to general compliance-related queries
• Develop and deliver training for business personnel
• Proactive audit management: manage external audit engagements from planning to reporting, ensuring timely and high-quality deliverables
• Partner with business management, risk, compliance colleagues and other control groups to identify control issues or areas which might potentially result in an audit finding
• Clearly communicate potential audit findings to management and present an overall opinion on the control environment and suggested finding remediation, as appropriate
• Develop recommendations to strengthen internal controls and identify opportunities for improvement
• Adhering to the Global Compliance Framework and supporting the execution of the Compliance programme, including with respect to risk assessments and designing/implementing appropriate controls
• Development and deployment of second line controls and partner with the first line  to develop their controls to ensure timely detection of issues and risks. Ensuring reviews are being performed appropriately from a qualitative and timeliness perspective and provide challenge to the design, implementation and management of corrective actions
• Working with Legal, Controllers, Internal Audit, Technology, Operations (Client Onboarding) and other areas within Compliance (including the broader Divisional Compliance team), Regional Country Compliance and the business divisions to ensure prompt and coordinated resolution of compliance matters
• Assistance with the interpretation and implementation of new rules/regulation - assessing regulatory risks, regulatory changes and potential impact
• Collaborating with other Compliance areas and the business to produce responses to information requests ahead of regulatory audits/reviews/reports/questionnaires

KEY SKILLS AND QUALIFICATION

• University degree with minimum of 6 years of Compliance experience, ideally gained by working for a top-tier house or others with sophisticated market making/hedging business units and/or complex financing capabilities; Global Markets, and/ or Wealth Management experience preferred
• Preferred experience in advising Line of Business on a daily basis
• Experience with BaFin audits, Securities Trading Act/ WpHG and MaRisk / MaComp / framework is an asset
• Experience in dealing with regulators/regulatory audits/exchange enquiries 
• Pro-active, self-motivated and well organized
• Ability to communicate clearly complex issues; able to communicate with impact at senior levels and with external regulators
• Excellent understanding of the key EU regulations impacting financial markets (MiFID, MAR, Benchmarks, EMIR, AIMFD, UCITS, CRD, CSDR, ESG etc.)
• Fluent in German and English is a prerequisite 
• Strong knowledge of the European regulatory environment and specifically the BaFin rules covered in German WpHG and MaRisk audits, including MiFID 2, MAR, MaComp, MAR, Benchmarks, EMIR, AIFMD, UCITS, CRD
• Attention to detail and independent, analytical thinking
• Ability to apply knowledge to complex situations 
• Ability to obtain senior stakeholders’ buy-in in challenging situations
• Proven ability to navigate and build strong relationships in an international, cross-office environment across business, risk, and control partners, consistent with our EMEA footprint
• Ability to manage relationships with the business at all levels
• Team-oriented and supportive of others’ success; comfortable representing a teamwork product to stakeholders, aligned with the firm’s collaborative culture and cross-functional partnering
• Ability to make sound decisions, ability to identify, understand, and articulate risks associated with regulatory reporting, partnering with multiple stakeholders to mitigate and escalate risks appropriately, in line with the roles’ second line challenge and control development remit
• Strong integrity and professionalism