OUR IMPACT
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centres around the world.
The Global Compliance team 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.
The GSBE Compliance team is located in London, Paris, Frankfurt, Milan and Warsaw. Fostering cooperative and positive relationships within the EMEA Compliance teams and all the other functions in the various offices is paramount for the roles, as GSBE continues to expand its activities in continental Europe and beyond.
YOUR IMPACT
We are looking for a VP-level candidate to join the Compliance team in Goldman Sachs Bank Europe SE (GSBE), our EU hub.
The role is based in Frankfurt, reporting to the local Divisional lead and focussing on the management of the GSBE external regulatory audits carried out by BaFin to evaluate the effectiveness of the firm's internal controls, risk management, and governance.
Responsibilities include proactively managing and executing external audit engagements, collaborating with business stakeholders and other control functions, identifying and reporting control issues, and developing recommendations to strengthen internal controls, prevent and remediate findings as appropriate. The role will also ensure appropriate integration of GSBE branches into the wider Divisional Compliance programme and control plan.
The role will require analytical skills, a strong understanding of risk and controls, and the ability to work both independently and as part of a global team.
JOB SUMMARY & RESPONSIBILITIES
The role will proactively manage GSBE regulatory audits, ineracting with a number of stakeholders and team members based in London, Frankfurt, Paris, Milan and Warsaw. The role will closely interact with Divisional Compliance management and with the Head of GSBE Compliance to ensure transparent communication and effectively managed interactions with local regulators and exchanges.
KEY RESPONSIBILITIES:
1. Proactive audit management: manage external audit engagements from planning to reporting, ensuring timely and high-quality deliverables
2. Partner with business management, risk, compliance colleagues and other control groups to identify control issues or areas which might potentially result in an audit finding
3. Clearly communicate potential audit findings to management and present an overall opinion on the control environment and suggested finding remediation, as appropriate
4. Develop recommendations to strengthen internal controls and identify opportunities for improvement
5. Adhering to the Global Compliance Framework and supporting the execution of the Compliance programme, including with respect to risk assessments and designing/implementing appropriate controls
6. Development and deployment of second line controls and partner with the first line to develop their controls to ensure timely detection of issues and risks. Ensuring reviews are being performed appropriately from a qualitative and timeliness perspective and provide challenge to the design, implementation and management of corrective actions
7. Working with Legal, Controllers, Internal Audit, Technology, Operations (Client Onboarding) and other areas within Compliance (including the broader Divisional Compliance team), Regional Country Compliance and the business divisions to ensure prompt and coordinated resolution of compliance matters
8. Assistance with the interpretation and implementation of new rules/regulation - assessing regulatory risks, regulatory changes and potential impact
9. Collaborating with other Compliance areas and the business to produce responses to information requests ahead of regulatory audits/reviews/reports/questionnaires
KEY SKILLS AND QUALIFICATION
10. University degree with minimum of 6 years of Compliance experience, ideally gained by working for a top-tier house or others with sophisticated market making/hedging business units and/or complex financing capabilities; Global Markets, and/ or Wealth Management experience preferred
11. Experience with BaFin audits, Securities Trading Act/ WpHG and MaRisk / MaComp / framework is an asset
12. Experience in dealing with regulators/regulatory audits/exchange enquiries
13. Pro-active, self-motivated and well organized
14. Ability to communicate clearly complex issues; able to communicate with impact at senior levels and with external regulators
15. Excellent understanding of the key EU regulations impacting financial markets (MiFID, MAR, Benchmarks, EMIR, AIMFD, UCITS, CRD, CSDR, ESG
16. Fluent in German and English is a prerequisite
17. Strong knowledge of the European regulatory environment and specifically the BaFin rules covered in German WpHG and MaRisk audits, including MiFID 2, MAR, MaComp, MAR, Benchmarks, EMIR, AIFMD, UCITS, CRD
18. Attention to detail and independent, analytical thinking
19. Ability to apply knowledge to complex situations
20. Ability to obtain senior stakeholders’ buy-in in challenging situations
21. Proven ability to navigate and build strong relationships in an international, cross-office environment across business, risk, and control partners, consistent with our EMEA footprint
22. Ability to manage relationships with the business at all levels
23. Team-oriented and supportive of others’ success; comfortable representing a teamwork product to stakeholders, aligned with the JD’s collaborative culture and cross-functional partnering
24. Ability to make sound decisions, ability to identify, understand, and articulate risks associated with regulatory reporting, partnering with multiple stakeholders to mitigate and escalate risks appropriately, in line with the roles’ second line challenge and control development remit
25. Strong integrity and professionalism
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 /careers.
We’re committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process.