Finance, GS Bank Management, Vendor Management, Associate, Salt Lake City
We're a team of specialists charged with managing the firm's liquidity, capital and risk, and providing the overall financial control and reporting functions. Whether assessing the creditworthiness of the firm's counterparties, monitoring market risks associated with trading activities, or offering analytical and regulatory compliance support, our work contributes directly to the firm's success. The division is ideal for collaborative individuals who have strong ethics and attention to detail.
Are you looking for the opportunity to drive and lead projects in a dynamic and growing part of the Firm? We are looking for a professional to join the team that is responsible for supporting vendor risk management of Goldman Sachs Bank USA (the "Bank") as the Bank enters new and different lines of business.
RESPONSIBILITIES AND QUALIFICATIONS
GS Bank USA is a $151 billion New York State-chartered bank and a member of the Federal Reserve System. The Bank offers a wide range of solutions to help our clients meet their financial goals. Our services include: deposit taking, consumer lending, corporate lending and risk management, transacting in derivatives and community lending.
The Bank Vendor Risk Management Office ("Bank VMO") is responsible for establishing and maintaining policies that govern the engagement of internal (affiliate) and external vendors as well as the management of vendor risk. This role within the Bank VMO is specific to the oversight of vendor risk for vendors engaged to support existing Bank businesses such as Marcus Lending and Savings Deposits, Private Bank Lending and Urban Investment Group deals. The team is also involved in initiatives to accommodate and support growth in new businesses as the Bank continues to expand its footprint.
The role will require a close working relationship with internal businesses responsible for the use of vendors in support of the Bank's businesses. The role will include direct and frequent contact with Vendor Relationship/Risk Owners and with internal vendors, such as Operations, Technology, Risk and Finance, and well as internal sponsors and stakeholders such as Bank Technology, Technology Risk, Services, Finance and Internal Audit.
The candidate's responsibilities would include:
- For new business initiatives, along with deal team, determine which third party vendors are required to support the business
- Coordinate vendor due diligence and on-boarding including contract completion. Ensure that oversight activities for the Bank's vendors are appropriately initiated
- Work with Vendor Relationship Owners ("VROs") to coordinate the completion of initial and periodic risk assessments across vendors
- Maintain information and records related to the Bank's vendors
- Meet regularly with the Consumer Servicing Oversight, the Consumer Lending business teams and Marcus teams to discuss vendor performance and risks impacting the Bank
- Participate in new activity and new product proposals for the Bank and evaluate the proposals for vendor management impact by coordinating and interfacing with business and federation stakeholders
- Implement and monitor vendor risk indicators including risks and incidents for escalation to management and steps toward risk mitigants and remediation
- Conduct targeted quality assurance reviews to ensure vendor/VRO compliance with Bank policies, requirements and contractual provisions
- Develop and prepare management and analytics reporting, including updates for the Bank's VROs, VRO delegates and vendor management related working groups, forums and committees
- Monitor and communicate negative media alerts for the Bank's external third party vendors; coordinate review by VROs and Compliance, where appropriate and prepare management reporting
- Keep up to date with relevant regulatory guidance, industry practices and Bank policies
- Maintain and update policies, procedures and best practices for management of vendor performance and associated risk
Experience / Skills:
- 3+ years work experience, vendor management experience preferred
- Excellent interpersonal skills with the ability to work collaboratively with vendors and stakeholders
- Excellent communications skills
- Excellent technical skills
- Strong analytical, organizational and problem solving skills with the ability to exercise sound and balanced judgment in a highly regulated environment
- A strong team player able to work efficiently and effectively, handling multiple tasks simultaneously and under pressure
- Advanced proficiencies in MS Excel, PowerPoint and SharePoint
ABOUT 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.
© The Goldman Sachs Group, Inc., 2018. All rights reserved Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Vet.
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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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