Compliance, Consumer Compliance, Associate

MORE ABOUT THIS JOB:

GLOBAL COMPLIANCE

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.

RESPONSIBILITIES AND QUALIFICATIONS:

This role is within Consumer Compliance with a focus on compliance monitoring of consumer regulations. The Consumer Compliance team has team members in New York, London, Dallas, Richardson and Bengaluru. The consumer compliance monitoring team focuses on second-line of defense testing of consumer regulations. The team works closely with business teams that are focused on developing or investing in new consumer products and assets. This role may include direct contact with external vendors. Internally, the role will require a close working relationship with businesses within Marcus, Global Compliance, Technology Risk, Legal, Credit and other investing divisions (i.e. Investment Banking, Securities, Merchant Banking). The role may include frequent presentations to senior management within Consumer Compliance. Consumer lending and servicing is highly regulated and requires interaction with federal and state regulators.

Responsibilities and Qualifications

There is an opportunity to join the Consumer Compliance team with focus on compliance monitoring of consumer regulations. Responsibilities of the role include evaluating first line internal controls and/or external vendor controls for compliance with consumer regulations including, but not limited to: FDCPA, TILA, SCRA, RESPA and NFIP. The candidate will be responsible for analyzing risks and discussing findings with the appropriate internal business owners. The role involves identifying risk patterns and trends within the consumer space and determining focus areas for compliance monitoring. Frequent escalation, reporting and ongoing communication to the business and Compliance management occurs within this role.

Role Responsibilities

• Perform targeted monitoring reviews to review consumer business activity to evaluate compliance with firm and industry standards and applicable consumer regulations

• Identify control improvements for monitoring risk

• Produce detailed reports of defined exceptions and/ or risks identified

• Review new products, new features and changes in regulations to determine new control requirements

• Improve operational efficiencies through using technology available within the firm

• Facilitate stakeholder meetings with the business, Compliance and other groups to discuss monitoring results, risks identified and remediation requirements

Qualifications

• Undergraduate degree and 3+ years of experience in the financial industry

• Excellent written and verbal communication skills with the ability to summarize observations and present in a clear, concise manner to peers, managers and senior Consumer Compliance management

• Demonstrate resiliency and creativity when under pressure and when managing time-sensitive demands from competing stakeholders

• Be unfailingly detail-oriented, so as to consistently produce accurate work product

• Have ability to work in Microsoft Word, Excel, and PowerPoint with ability to take datasets and visualize for management

• Good judgment - evaluate circumstances; consider alternatives and weigh pros and cons; use critical thinking to determine when and how to escalate issues

• Ability to prioritize and make decisions in a fast paced-environment

• Apply your strong attention to detail and quality to ensure accuracy in your work

Additional Qualifications Recommended

• Knowledge of regulations governing the consumer banking industry

• Experience executing within a quality assurance or compliance monitoring program

• Experience with Alteryx and/or Tableau

• Experience with SQL

• Experience with GRC tools (e.g. Archer)

• Fluency in Spanish

ABOUT GOLDMAN SACHS:

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.

© The Goldman Sachs Group, Inc., 2020. All rights reserved.