Compliance and Legal, Third Party Risk Management, Associate

$85,000 - $140,000/Yr

Goldman Sachs - New York, NY

Full-time - Entry Level

New York, NY

Securities, Commodity Contracts, and Other Financial Investments and Related Activities

About the position

The Compliance and Legal, Third Party Risk Management Associate position at Goldman Sachs is a pivotal role within the Compliance Division, focusing on the management and oversight of third-party risks. This role is integral to the firm's commitment to maintaining a robust compliance culture and ensuring that all regulatory and reputational risks are effectively managed. As part of the Compliance, Legal, and Conflicts Resolution Group (CLC), the Associate will work collaboratively with various teams to enhance the Third Party Risk Management (TPRM) framework, ensuring it meets best-in-class standards. The position requires a proactive approach to compliance, with responsibilities that include engaging with divisional management and key vendors to foster collaboration and drive compliance initiatives. The Associate will be responsible for enabling compliance with the Firmwide Third Party Risk and Control Framework, actively engaging across the spectrum of risks associated with third-party relationships. This includes oversight of first-line risk-taking activities and collaboration with Risk Partners to review control requirements and resolve vendor issues. The role also involves facilitating disruption testing in partnership with operational resilience teams and managing internal and external examinations, including regulatory audits and compliance checks. In addition to these responsibilities, the Associate will develop and provide periodic reporting on the vendor landscape, risks, and controls, ensuring that divisional execution aligns with program requirements. The role demands strong analytical skills, as the incumbent will need to navigate large data sets and distill complex information into executive-level presentations. The ability to communicate effectively with senior leadership and manage multiple projects simultaneously is crucial for success in this position. The ideal candidate will possess a blend of visionary thinking and execution capabilities, demonstrating resilience and creativity under pressure while managing time-sensitive demands from various stakeholders.

Responsibilities

• Enable CLC to comply with the Firmwide Third Party Risk and Control Framework
• Provide active engagement across the full spectrum of risks from introduction of Third Parties to ensure appropriate oversight and governance of first line risk taking activities
• Engage with Risk Partners across the organization, to review control requirements and drive resolution of vendor issues with VROs
• Facilitate disruption testing in partnership with firmwide operational resilience and VROs
• Develop and provide periodic global and regional reporting on vendor landscape, risks, controls, and overall status of divisional execution against the program requirements
• Manage internal and external examinations and engagements (regulatory, audit, compliance)
• Support and help lead aspects of global TPRM program initiatives and priorities, working with global program and capability leads, as well as the global team overall
• Contribute to the production, review and analysis of TPRM presentations for senior leadership
• Participate in crafting presentation materials for senior leadership and executing ad-hoc projects on the broader team
• Develop reporting models using Excel/Power Query/Power BI/Alteryx on Third Party Risk trends
• Collaborate with multiple stakeholders and vendors on actioning Third Party Risk items to ensure compliance with our Control Framework

Requirements

• 3+ years of experience in Third Party Risk Management or the equivalent experience
• Bachelor's Degree in Accounting, Finance, Economics or related field
• Highly customer service oriented with excellent written and verbal communication skills
• Advanced PowerPoint and Excel skills, preferred experience using Power Query/Power BI and with an ability to learn new reporting tools quickly
• Exceptional analytical, problem solving, critical thinking and project management skills with a proven track record of execution against deadlines
• Demonstrate resiliency and creativity when under pressure and when managing time-sensitive demands from competing stakeholders
• Experience in delivering high quality work products, reflecting attention to detail and analytical prowess
• Work independently and exercise strong judgment when executing an assigned task
• Multi-task and have the ability to manage and advance multiple projects simultaneously
• Identify and effectively escalate potential issues to appropriate stakeholders
• Identifying business needs for new or changed vendor relationships
• Review, design and implement appropriate KRIs; Perform controls monitoring & testing

Benefits

• Diversity and inclusion initiatives
• Training and development opportunities
• Wellness programs
• Mindfulness programs
• Flexible working arrangements