Private Wealth Management, Suitability Risk, Associate, Frankfurt
Goldman SachsOUR IMPACT
Goldman Sachs Private Wealth Management (PWM) specializes in creating comprehensive wealth management plans for high-net-worth individuals and families, as well as select institutions, including foundations and endowments. PWM Teams work one-on-one with clients to advise and deliver customized strategies drawn from our deep investment experience, diverse wealth management capabilities and global reach. Our Private Wealth Advisors (PWAs) deliver an unparalleled investment platform inclusive of the full product and service offerings of Goldman Sachs and beyond, which may include tax and estate planning, philanthropic planning and private banking and lending services. As client needs evolve, this close relationship allows the team to offer complementary services and new opportunities by leveraging the resources of Goldman Sachs and beyond.
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? Associates on the Wealth Management Risk Team 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 PWM 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.
Wealth Management Risk is a First Line function that provides analysis, review and management of the client, product, and platform related risks of the PWM business. We are looking for an analytical and quantitative Associate based in Frankfurt, to work as part of the Europe, Middle East and Africa (EMEA) team.
This role focuses on identifying, assessing, and managing suitability risks, which encompass (a) the potential for financial professionals to recommend products or services or (b) the risk of client loss from investment or trading activities that may be inappropriate for / disproportionate to the client’s wealth, sophistication, objectives, or risk tolerance. This involves driving the end‑to‑end Suitability & Appropriateness framework for PWM EMEA — adapting to regulatory change, control design and testing, audit remediation, and cross‑functional governance to ensure compliance with regulatory and internal policy standards. You will work closely with EMEA PWM Management Teams, PWM Compliance, PWM Legal, PWM Product Specialists and Private Wealth Advisors to review and advise on various activities and projects.
HOW YOU WILL FULFILL YOUR POTENTIAL
- Review and analyze client portfolios from a suitability risk perspective
- Ongoing monitoring and assessment of clients, their wealth and sophistication vs. their products and portfolios with GS
- Ensure record keeping requirements are adhered to by advisors from a quality and completeness perspective
- Analysis and implementation of improvements to our risk management infrastructure
- Work with Strats team to develop specific risk analytics/reporting to be used internally and/or externally with clients
- Help to provide regular reviews to senior PWM Management in EMEA
- Work with and support advisors to ensure understanding of regulatory and internal requirements, and facilitate new business in a controlled environment
- Support on discretionary business and regulatory implementation projects
REQUIREMENTS
- Minimum of 3 years of experience in a financial organization, preferably in the private wealth high net worth area or a First Line Risk function
- Experience working with and/or implementing European Suitability regulations (MiFID, MaComp etc.)
- Candidates should have native fluency in German language
- Good base of financial products and derivatives knowledge – pricing, risk management of structured products, options and more exotic derivatives
- Good 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
ABOUT GOLDMAN SACHS
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