Private Bank, Real Estate Underwriter, Associate, Frankfurt

Goldman Sachs Group; Frankfurt; Hybrid; EUR 90,000 - 150,000; Full time

Job summary

Goldman Sachs is seeking candidates with a strong financial background for Private Lending Underwriting in the EMEA region. The role involves assessing, underwriting, documenting, and monitoring credit and business risks in complex loan transactions for high-net-worth clients.

The team collaborates across PWM and regional lending units to deliver customized lending solutions while adhering to bank standards and risk controls.

Qualifications

• Strong analytical and technical skills with risk mindset.
• Experience with financial accounting, analysis, and modelling.

Responsibilities

• Evaluate risk and economic implications of transactions.
• Advise and develop client solutions within risk parameters.
• Document loan structures and credit approvals.
• Ensure covenant and collateral monitoring compliance.
• Collaborate with Private Lending teams and Credit Risk Management.

Skills

Analytical skills

Risk assessment

Financial analysis

Education

Bachelor's degree

CFA/FRM (plus)

Job description

YOUR IMPACT

Do you have a strong financial background, experience in underwriting or credit analysis, and are you looking for a dynamic team on which to build your career?We are seeking candidates that are highly analytical and client focused to be part of our Private Lending Underwriting team, which is responsible for the underwriting and portfolio management of structured loans to ultra-high net worth individuals.

OUR IMPACT

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. Our Private Wealth Advisors (PWAs) deliver an unparalleled investment platform inclusive of the full product and service offerings of Goldman Sachs and beyond, which may include tax and estate planning, philanthropic planning and private banking and lending services. As client needs evolve, this close relationship allows the team to offer complementary services and new opportunities by leveraging the resources of Goldman Sachs and beyond.

Private Lending Underwriting (PLU), primarily based in London, is responsible for the underwriting of loans to GS Private Wealth Management (PWM) clients in EMEA.In this capacity, PLU assesses, underwrites, documents, and monitors the credit and business risks incurred in loan transactions. The underwriting process includes a thorough analysis of the borrower’s financial condition, assessment of any collateral securing the loan, identification of risks and mitigants, among other items. Types of loans underwritten include commercial real estate, GS and third-party private equity/hedge funds (including co-invest facilities), aircraft, fine art, hobby properties, private company stock, yachts, marketable securities, etc.

PLU also ensures that the underwriting standards approved by the bank are adhered to in the loan approval process, with exceptions appropriately mitigated and documented. In addition, PLU participates in various business-related initiatives, such as new product development and systems/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 International and may be seconded.

This is a client facing role that requires a sound risk mindset. It is transactional in nature but incorporates relationship management skills to provide our clients with customized solutions and unparalleled service.

HOW YOU WILL FULFILL YOUR POTENTIAL

• Evaluate all risk and economic implications of transactions, using strong analytical and technical skills
• Work closely with the Regional Lending Team to advise and develop solutions for clients that meet their needs and remain within acceptable risk parameters for 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
• Document the loan structure and analysis for credit approval and file documentation purposes
• Ensure that loan documentation is consistent with the approved terms and that appropriate risk ratings are assigned to each loan transaction
• Confirm compliance with all covenant and collateral monitoring procedures
• Ensure that loan approvals and policy exceptions are documented appropriately and that credit files are maintained in a satisfactory manner
• Interact with banking regulators on an as needed basis. Provide other support of GS International Bank loan portfolio as requested
• Foster strong communication with Regional Private Lending teams, Credit Risk Management, PWM teams, clients and the wider GS EMEA personnel

REQUIREMENTS

• Experience within financial services and private wealth management
• Ideally a candidate will have experience in a Commercial Real Estate focussed position
• A bachelor's degree and a relevant professional CFA or FRM qualification is considered a plus
• Experience covering structured lending (Credit Risk or Underwriting) directly in private wealth management is preferred
• Key skills include detailed knowledge of financial accounting, analysis, and modellingas well as product knowledge of structured wealth products
• Excellent communication skills, both written and oral
• Strong project management, multi-tasking, and work organization skills
• Flexible, personable, confident, and self-motivated while focusing on being a team player
• Desire to be part of a dynamic and growing business
• No licensing required for this role

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., 2026. All rights reserved.

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