Asset & Wealth Management, Private Bank, Capital Call Funding, Associate - New York

MedStar Health; New York (NY); On-site; USD 85,000 - 160,000; Full time

Job summary

A leading financial institution is seeking a professional in Wealth Management to advise on underwriting and credit solutions. The ideal candidate will have experience in fund finance, analytical skills, and a strong educational background, contributing to the growth of the organization. Competitive salary and comprehensive benefits are provided.

Qualifications

• 3+ years of relevant work experience in underwriting or lending.
• Strong understanding of fund finance.
• Detailed knowledge of financial accounting and analysis.

Responsibilities

• Evaluate risk and economic implications of transactions.
• Document loan structures and ensure compliance with terms.
• Build and maintain credit and financial models.

Skills

Analytical skills

Communication skills

Project management

Work organization

Education

Bachelor's degree

MBA

Job description

Wealth Management

Across Wealth Management, Goldman Sachs helps empower clients and customers around the world to reach their financial goals. Our advisor-led wealth management businesses provide financial planning, investment management, banking and comprehensive advice to a wide range of clients, including ultra-high net worth and high net worth individuals, as well as family offices, foundations and endowments, and corporations and their employees. Our consumer business provides digital solutions for customers to better spend, borrow, invest, and save. Across Wealth Management, our growth is driven by a relentless focus on our people, our clients and customers, and leading-edge technology, data and design.

Goldman Sachs Private Bank

Goldman Sachs Private Bank provides competitive borrowing and cash management solutions from Goldman Sachs Bank USA that are strategically integrated with our client's wealth management goals. Our experienced team partners with PWAs to advise clients on new loans, refinancing and restructuring of existing loans along with overall liability management. Our lenders and mortgage specialists provide a wide range of creative borrowing solutions against asset classes ranging from marketable securities and alternative investments, residential and commercial real estate to more tailored solutions against private assets such as aviation, fine art or vineyards. All team members are employees of Goldman Sachs Bank, USA

Capital Call Financing (CCF)

The Private Lending Capital Call Financing team provides fund-level financing in the form of capital call / subscription facilities collateralized by the uncalled capital of a fund's limited partners. These facilities enhance fund returns, accelerate access to capital, reduce capital call frequency, and bridge to asset-secured leverage. The CCF business is an integral part of the Private Bank's alternative asset lending capabilities, enabling the Bank to offer credit facilities at both the GP investor level for personal liquidity and cash flow management and the fund level to enhance financial flexibility throughout a fund's life.

CCF Underwriting assesses, documents, and monitors the credit and business risks incurred in CCF transactions. The underwriting process includes a thorough analysis of the private equity fund sponsor, the collateral (limited partners committing to the fund), and the loan structure. CCF Underwriting also ensures that the underwriting standards approved by the bank are adhered to in the loan approval process, with exceptions appropriately mitigated and documented.

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

HOW YOU WILL FULFILL YOUR POTENTIAL

• Evaluate all risk and economic implications of transactions, using strong analytical and technical skills


• Advise and develop credit solutions for clients that meet their needs and remain within acceptable risk parameters for the Bank


• Develop and maintain a thorough understanding of the CCF product offered in Private Lending. Ensure consistency in the underwriting process and with the standards prescribed in the Lending Guide


• Diligence private equity fund and sponsor track records, financials, LPs, PPMs, and LPAs across various strategies (e.g., buyout, real estate, infrastructure, etc.)


• Build and maintain borrowing base certificates and credit / financial models


• Evaluate the credit implications of complex structured loans


• 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 Bank USA's loan portfolio as requested


• Foster strong communication with clients, Credit Risk Management, PWM teams, and GS Bank USA personnel

SKILLS & EXPERIENCE WE'RE LOOKING FOR

• A Bachelor's degree, MBA preferred


• CPA or CFA a plus


• 3+ years of relevant work experience (underwriting, lending, commercial banking, private banking, investment banking, investor relations, private equity, and/or credit roles) and a strong understanding of fund finance


• Detailed knowledge of financial accounting, analysis, and modeling


• Excellent communication skills


• 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

Salary Range

The expected base salary for this New York, New York, United States-based position is $85000-$160000. In addition, you may be eligible for a discretionary bonus if you are an active employee as of fiscal year-end.

Benefits

Goldman Sachs is committed to providing our people with valuable and competitive benefits and wellness offerings, as it is a core part of providing a strong overall employee experience. A summary of these offerings, which are generally available
to active, non-temporary, full-time and part-time US employees who work at least 20 hours per week, can be found here.