Compliance, Financial Crime Compliance (FCC), Know-Your-Client (KYC), Analyst/Associate
10 Jun 2019
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 centers around the world.
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.
How You Will Fulfill Your Potential
FCC in the Compliance division is responsible for coordinating Goldman Sachs’ enterprise-wide Anti-Money Laundering (“AML”)/Bank Secrecy Act, anti-bribery, government sanctions, and anti-boycott compliance efforts. FCC also provides AML-related services to Goldman Sachs subsidiaries worldwide. These services include: developing and implementing policies and procedures; performing customer due diligence and enhanced due diligence; screening against Office of Foreign Asset Control (“OFAC”) and other government sanctions lists; conducting automated and manual transaction monitoring including E-communications, investigating potential violations of law, regulation or firm policy by employees and/or clients; reporting suspicious activity; coordinating training of relevant employees; and liaising with law enforcement and regulatory authorities.
The successful candidate will be part of the Asia-Pacific FCC Know-Your-Client (“KYC”) team primarily responsible for reviewing Private Wealth Management Division KYC matters, and report to the KYC team lead based in Hong Kong.
• Reviewing Client Identification Program (CIP)/ Client Onboarding escalations and providing advice to ensure compliance with applicable regulatory requirements in APAC and internal AML policies
• Conducting Enhanced Due Diligence (EDD) on prospective and existing clients to identify issues presenting potential legal, regulatory, sanctions or reputational risk, primarily utilizing publicly available data sources, vendor reports and reviewing client documentation
• Managing document retention in accordance with applicable AML regulations and firm policies
• Updating, drafting and implementing applicable KYC/Client Onboarding policies and procedures
• Providing training to employees on KYC/Client Onboarding related topics
• Collaborating closely with the global Anti-Money Laundering/Suspicious Activities Group, the Government Sanctions Group, the Anti-Bribery Group, the Electronic Communications Surveillance Group, and the Global Surveillance Group
RESPONSIBILITIES AND QUALIFICATIONS
• Prior experience in AML compliance, securities law, law enforcement, investigative or forensic accounting or similar background
• Knowledge of Private Wealth Management industry
• Knowledge of Client Onboarding and relevant regulations
• Knowledge of Asian languages is an advantage.
• Good understanding of the securities industry and investment products, including all major asset classes, options, swaps, and futures
• Strong analytical, investigative and risk assessment skills
• Ability to prioritize demanding workflows, detailed-oriented and well organized
• Ability to take ownership, work independently and yet still be team-oriented
• Ability to adapt to new changes and new challenges
• Excellent written and verbal communication skill
• Effective interpersonal skills
• Proficiency in PowerPoint and Excel, and experience in external database searches, such as World Check, Factiva, and Lexis/Nexis
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