Compliance, Custody & Client Assets, Associate, Frankfurt / Luxembourg

Goldman Sachs, Inc.; Frankfurt; On-site; EUR 90,000 - 130,000; Full time

Job summary

Goldman Sachs, Inc. seeks a Compliance professional to provide coverage for Germany and Luxembourg Custody operations, focusing on regulatory risk, policy development, and engagement with regulators.

The role involves ongoing monitoring, testing, and collaboration with control teams to ensure alignment with global compliance mandates. The ideal candidate has at least 3 years in compliance or risk roles, with detailed knowledge of German and Luxembourg custody rules, and experience interacting

Qualifications

• A strong candidate will satisfy several of the listed criteria.
• Experience in compliance, risk management or control functions (min 3 years).
• Knowledge of German and Luxembourg custody rules and related legal frameworks.

Responsibilities

• Advise and influence control functions on regulations, policies and reputational risk.
• Identify, investigate and manage compliance issues involving control functions.
• Support interactions with regulators and provide guidance to control functions.
• Brief senior leadership on risks identified and ensure stakeholder engagement.
• Analyze regulatory changes and enforcement actions to assess impact on the business.
• Develop, analyze and implement related policies, procedures and processes to ensure regulatory compliance.
• Conduct second line testing and monitoring for regulatory compliance.
• Coordinate with auditors and stakeholders on custody asset-related audits.
• Develop and deliver compliance training and communications.

Skills

Regulatory knowledge

Risk management

Compliance expertise

Analytical thinking

Clear communication

Stakeholder management

Ethics and integrity

Fast learner

Job description

Job Description

OUR IMPACT

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

This role will focus on, but not be limited to, providing Compliance coverage for our Germany and Luxemburg based Custody Operations and German custody rules along with the coverage of other regional compliance matters.

A successful candidate will also participate in region-wide, and global initiatives to enact the Global Compliance mandate.

• Advise, challenge and influence control and operating functions about regulations, policies and reputational risk
• Identify, investigate and manage compliance issues involving control and operating functions
• Provide support and guidance to control and operating functions in dealing with regulators
• Brief senior leadership including the Chief Compliance Officer on risks identified and ensure stakeholder engagement
• Analyze regulatory changes and enforcement actions to assess the impact to control and operating functions, and participate in work to ensure the business is able to support applicable rules and requirements
• Support the development, analysis, drafting and implementation of related policies, procedures, standards, and processes to ensure compliance with applicable regulations and requirements
• Assist the Client Asset Protection Officer with compliance of the rules and obligations by conducting a second line risk assessment on compliance with Custody rules and obligations
• Conduct second line testing and monitoring, including forensic reviews to monitor compliance with regulations and firm policies
• Liaise internally and externally with auditors and stakeholders on various audit engagements for custody assets.
• Develop and deliver communication and training

QUALIFICATIONS AND SKILLS

A strong candidate for will satisfy some or all the following criteria:

• At least 3 years of work experience including as a compliance officer or in a risk management or control function role
• Detailed knowledge of German and Luxembourg Custody rules, legal frameworks and circulars
• Experience working as a regulator, interacting with regulators, or supporting regulatory audits or inquiries
• Understanding of the wider regulatory reporting environment including historical focus from regulators and current supervisory/enforcement activity in EMEA
• Knowledge of operational practices in securities and derivatives markets
• Knowledge of regulations, practices and markets infrastructure in Europe

A strong candidate will possess the following skills:

• Clear, concise communication and drafting skills; able to communicate with impact at senior levels and with external regulators
• Risk Management: the ability to identify, understand and articulate risks associated with regulatory reporting and working with multiple stakeholders to assist in the mitigation/escalation of those risks
• Able and willing to challenge; comfortable with inter-personal conflict; able to build strong professional rapport with stakeholders while maintaining independence as a risk manager
• Sound judgment, ethics and integrity
• Fast learner; able to adapt to business and regulatory changes; interest to challenge status quo and find new solutions
• Proficient in using technology; able to analyze data sets and summarize findings; comfortable learning new technologies, both as a user and to identify risks
• Team-oriented and supportive of others' success; comfortable representing a teamwork product to stakeholders
• Well organized with the ability to manage both longer term projects and daily, often time-sensitive, escalations

ABOUT GOLDMAN SACHS

At Goldman Sachs, we commit our people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Founded in 1869, we are a leading global investment banking, securities and investment management firm. Headquartered in New York, we maintain offices around the world.

We believe who you are makes you better at what you do. We're committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally, from our training and development opportunities and firmwide networks to benefits, wellness and personal finance offerings and mindfulness programs. Learn more about our culture, benefits, and people at GS.com/careers.

We're committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: https://www.goldmansachs.com/careers/footer/disability-statement.html

© The Goldman Sachs Group, Inc., 2023. All rights reserved.

Goldman Sachs is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, national origin, age, veterans status, disability, or any other characteristic protected by applicable law.