IMD, PWM, Private Bank Lending, Underwriter - Senior Analyst/Associate, Dallas


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.


Job Summary and Responsibilities

Private Wealth Management (PWM) secures, develops and manages relationships with high net worth individuals, their families, family offices and foundations. PWM assists clients with building and preserving their financial wealth by creating and implementing long-term asset allocation within the context of each client's particular risk tolerance, and by providing access to innovative investment ideas and opportunities. PWM professionals develop customized investment strategies and offer a full array of wealth management products and services, including private banking and trust company services.

Private Lending Underwriting (PLU), based in Dallas, TX, is primarily responsible for the underwriting of loans to GS Private Wealth Management (PWM) clients. In this capacity, PLU assesses, underwrites, documents and monitors the credit risk incurred in loan transactions. The underwriting process includes a thorough analysis of the collateral securing the loan (if any), which may include assets such as marketable securities, private equity/hedge funds, commercial real estate, aircraft, fine art, hobby properties, private company stock, yachts, etc.

PLU also ensures that the underwriting standards approved by the bank are adhered to in the loan approval process, with exceptions appropriately documented. In addition, PLU participates in various business related projects, such as new product development and operational enhancements.

Private Lending is a part of GS Private Bank (PB), which is a business initiative of Goldman Sachs. PLU employees are employees of Goldman Sachs Bank USA.

Principal Responsibilities:

  • Evaluate the credit implications of transactions involving loans when the credit decision cannot rely exclusively on the value of the collateral
  • Work closely with the Regional Lending Team to advise and develop solutions for clients that meet their needs and the risk acceptance parameters of the Bank
  • Develop and maintain a thorough understanding of the product suite offered in Private Lending. Ensure consistency in the underwriting process and with the standards prescribed in the Product Lending Guides
  • Responsible for documenting the structure and analysis for credit approval and file documentation purposes
  • Ensure that loan approvals and policy exceptions are documented appropriately and that credit files are maintained in a satisfactory manner
  • Ensure that loan documentation is consistent with the approved terms for each transaction
  • Ensure that appropriate risk ratings are assigned to each loan transaction
  • Ensure compliance with all covenant and collateral monitoring procedures at all times
  • Interact with banking regulators on an as needed basis. Provide other support of GS Bank USA's loan portfolio as requested
  • Foster strong communication with Regional Private Lending teams, Credit Risk Management, PWM teams and GS Bank USA personnel

Basic Qualifications
  • Minimum of two years' work experience in financial fields
  • Relevant work experience includes commercial banking and/or private banking underwriting or credit roles
  • Bachelor's Degree
  • MBA Preferred (for a more senior role)
  • Key skills include detailed knowledge of financial accounting, analysis and modeling
  • People/ project management skills
  • Strong oral and written communications skills
  • Flexible, personable, confident and self-motivated; team player
  • Strong multi-tasking and work organization skills
  • Strong computer skills, including Microsoft Office applications (Word, Excel, etc.) and Internet capabilities
  • Desire to be a part of a dynamic and growing business

*Background in mortgage underwriting not relevant for this role


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., 2017. All rights reserved
Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Ve t.

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