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Compliance, Private Wealth Management Compliance Officer, Vice President, London
Goldman Sachs
London, , United Kingdom
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Job Summary & Responsibilities
YOUR IMPACT
A position where you will help ensure the firm is compliant with the appropriate rules and regulations within the private banking and wealth management industry. We’re looking for a tenured professional to join our Private Wealth Management (PWM) Compliance team, who wants to use their experience to provide world class advisory and compliance guidance to our PWM business.
OUR IMPACT
The Goldman Sachs Group, Inc. is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.
Global Compliance interprets regulatory requirements to ensure the firm is in compliance and determines how to appropriately pursue global market opportunities. Our analysts monitor regulatory trends in every jurisdiction where the firm operates and we work with regulators to manage financial market risk.
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.
HOW YOU WILL FULLFILL YOUR POTENTIAL
PWM Compliance is a unit within Global Compliance that services the Private Wealth Management area within the Investment Management Division. The role of Compliance within PWM is to partner with the business in order to conduct and supervise its activities in compliance with regulations and firm policies, help to reduce the firm’s regulatory and reputation risk, and reinforce the firm’s culture of compliance.
The London Advisory team is a part of the Global PWM Compliance team with other team members in New York, Hong Kong, Singapore, Frankfurt and Zurich.
The London Advisory team primarily focuses on supporting the PWM business with respect to: account opening (both traditional and non-traditional); review and approval of marketing materials (for both retail and professional clients); complex trade approvals (margin and lending); launch of new Alternative Investment Funds (AIFs) and providing on-going day to day advice to the EMEA PWM Business.
ROLE RESPONSIBILITIES
• Working in collaboration with the PWM London advisory compliance team to deliver day-day line advisory functions including but not limited to:
• Cross office monitoring to ensure that Rules of the Road are being adhered to
• Review of new products and the associated marketing materials, particular with respect to Alternative Investment Funds (AIFs)
• Review complex trade approvals (Margin and Lending)
• Review, analysis and implementation of new regulations (e.g., MiFID II and PRIIPS)
• Working in collaboration with the PWM EMEA Compliance Team and Global PWM Compliance colleagues in the delivery of Compliance investigative trade and client reviews, and targeted forensic surveillance, including but not limited to:
• Focused Conduct Risk reviews including review of emails, voice logs, client files and discussions with PWM professionals
• Forensic review of PWM discretionary portfolios which are not managed by a central portfolio team (e.g., review of product concentration, asset allocation vs. criteria provided to clients)
SKILLS AND EXPERIENCE WE’RE LOOKING FOR
BASIC QUALIFICATIONS
• University degree and/or professional compliance / financial services qualification
• Knowledge of UK and EU regulatory environment and FCA rules (specifically COBS rules)
• Knowledge of Alternative Investment Funds (AIFs) and Alternative Investments in general
• Knowledge of Private Bank lending
• Strong investigative, analytical and problem solving skills with the ability to exercise sound and balanced judgment
• Good interpersonal skills and effective written/oral communication skills
• Excellent attention to detail
• Ability to handle multiple tasks and work under pressure
• Ability to work both independently and as part of a team
• Proficient in MS office tools including strong knowledge of MS-Excel
PREFERRED QUALIFICATIONS
• Knowledge of products and trading strategies used by PWM, e.g. structured products, alternative investments, derivative is advantageous
• Private wealth management / product compliance experience preferred.
• Language skills an advantage