Compliance, Consumer FCC, Associate/VP





GLOBAL COMPLIANCE

Our division prevents, detects and mitigates compliance, regulatory and reputational risk across the firm and helps to strengthen the firm's culture of compliance. Compliance accomplishes these through the firm's enterprise-wide compliance risk management program. As an independent control function and part of the firm's second line of defense, Compliance assesses the firm's compliance, regulatory and reputational risk; monitors for compliance with new or amended laws, rules and regulations; designs and implements controls, policies, procedures and training; conducts independent testing; investigates, surveils and monitors for compliance risks and breaches; and leads the firm's responses to regulatory examinations, audits and inquiries. You'll be part of a team with members from a wide range of academic and professional backgrounds, such as law, accounting, sales, and trading. We look for those who possess sound judgment, curiosity, and are able to adapt to a changing regulatory landscape.

YOUR IMPACT

Candidate will work as part of the GS Bank ("Bank") Consumer Financial Crime Compliance team with a primary focus on executing monitoring plans for detecting and assessing potential money laundering and fraud risk in consumer banking products. Candidate will use their skills, ideas, and leadership to assist management in identifying risk, assess existing processes, develop recommendations to mitigate risk, and monitor the implementation of management's control measures.

As a member of our Consumer Financial Crime Compliance team, you will be exposed to new and emerging risk typologies, be positioned to learn about our firm and its many businesses and build your expertise in compliance, fraud and/or general risk management. Candidate will have the opportunity to assist in and share ideas to continue building a new Financial Crime Compliance program for consumer banking.

OUR IMPACT

Consumer Financial Crime Compliance is responsible for identifying and addressing money laundering, terrorist financing, fraud and other financial crime risks related to the firm's consumer businesses, which include GS Bank's Marcus by Goldman Sachs online savings and lending platform, and Honest Dollar's individual retirement accounts.

More specifically, with respect to GS Bank's consumer businesses, Consumer Financial Crime Compliance is responsible for:

  • Anti-money laundering and government sanctions surveillances
  • Enhanced due diligence for high-risk customer relationships
  • Investigations of potentially suspicious activity and preparation of SARs


RESPONSIBILITIES AND QUALIFICATIONS

Responsibilities:
  • Identify and perform in-depth analysis of potentially suspicious money laundering and fraudulent activity. Such investigations require analyzing transactional activity, customer due diligence information, and the history of a customer's relationship with the firm, and writing a summary of the investigation. Investigations also generally require researching open source information such as Pacer, Lexis, and World-Check. , closed source databases, and internal client information and account transaction databases.
  • Review and analyze transactional activity, including all forms of funds transfers through the use of NICE Actimize.
  • Draft Suspicious Activity Reports (SARs)
  • Perform Quality Control on colleagues investigations and analysis
  • Communicate and collaborate with attorneys, compliance and business staff
  • Apply knowledge of products, services and expected activity
  • Perform other duties and project work as assigned.

Qualifications:
  • Prior Anti-Money Laundering (AML) or Fraud experience in consumer banking with extensive knowledge of financial markets and products
  • Keen attention to detail
  • Strong analytical and risk assessment skills
  • Ability to adapt quickly to new changes and challenges
  • Ability to prioritize work flows and ensure deadlines are met
  • Ability to forge strong relationships with colleagues and clients
  • Ability to work independently and yet still be team-oriented
  • Excellent written and verbal communication skills
  • Proactive, self motivated and well-organized.
  • Prior SAR writing and/or Quality Control experience a plus



See Inside the Office of Goldman Sachs

The Goldman Sachs Group, Inc. is a leading global investment banking, securities, and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments, and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.


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