Internal Audit - Wealth Management
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. We commit people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Our people are our greatest asset – we say it often and with good reason. It is only with the determination and dedication of our people that we can serve our clients, generate long-term value for our shareholders and contribute to the broader public. We take pride in supporting each colleague both professionally and personally. From collaborative workspaces and ergonomic services to wellbeing and resilience offerings, we offer our people the flexibility and support they need to reach their goals in and outside the office
INTERNAL AUDIT
In Internal Audit, we ensure that Goldman Sachs maintains effective controls by assessing the reliability of financial reports, monitoring the firm’s compliance with laws and regulations, and advising management on developing smart control solutions. Our group has unique insight on the financial industry and its products and operations. We’re looking for detail-oriented team players who have an interest in financial markets and want to gain insight into the firm’s operations and control processes.
WHAT WE LOOK FOR
Goldman Sachs Internal Auditors demonstrate strong risk and control mindsets, analytical, exercise professional skepticism and are able to challenge and discuss effectively with management on risks and control measures. We look for individuals who enjoy learning about audit, businesses and functions, have innovative and creative mindsets to adopt analytical techniques to enhance audit techniques, building relationships and are able to evolve and thrive in teamwork and in a fast-paced global environment.
YOUR IMPACT
As the third line of defense, Internal Audit’s mission is to independently assess the firm’s internal control structure, including the firm’s governance processes and controls, and risk management and capital and anti-financial crime frameworks, raise awareness of control risk and monitor the implementation of management’s control measures. In doing so, internal Audit:
- Communicates and reports on the effectiveness of the firm’s governance, risk management and controls that mitigate current and evolving risk
- Raise awareness of control risk
- Assesses the firm’s control culture and conduct risks
- Monitors management’s implementation of control measures
Goldman Sachs Internal Audit comprises individuals from diverse backgrounds including chartered accountants, developers, risk management professionals, cybersecurity professionals, and data scientists. We are organized into global teams comprising business and technology auditors to cover all the firm’s businesses and functions, including securities, investment banking, consumer and investment management, risk management, finance, cyber-security and technology risk, and engineering.
RESPONSIBILITIES
- Develop and maintain an in-depth understanding of Wealth Management business areas, relevant services and products offered, and supporting functions
- Execute and lead the completion of audits across various audit lifecycle phases including planning and scoping, fieldwork, and reporting within assigned timelines and in line with audit objectives
- Perform walkthroughs with first and second line of defense stakeholders to prepare process flowcharts, document narratives, and complete control design assessments
- Complete effectiveness testing and outcome-based testing to evaluate the operating effectiveness of relevant controls, while ensuring work-papers meet high quality standards
- Identify risks, assess the impact of control deficiencies and mitigating controls, and make recommendations on improving the control environment
- Prepare commercially effective audit conclusions and findings, and present to Internal Audit senior management and stakeholders
- Follow-up on open audit issues and perform validation testing of management’s completed remediation plans to verify appropriateness of resolution
- Participate in department-wide initiatives aimed at continually improving Internal Audit's processes and supporting infrastructure
- Maintain internal stakeholder relationships and regular interaction with the business during the year to assess changes in the control environment and other business matters that may impact the Internal Audit plan and related third line of defense coverage
SKILLS AND RELEVANT EXPERIENCE
- 1-3 years of experience in Internal Audit within the financial services industry
- 4-year degree in a finance, accounting, or quantitative discipline
- Knowledge of Private Wealth Advisory, Private Banking or Asset Management businesses, including supporting activities and related risks
- Familiarity with global regulations impacting investment management or private banking products and services
- Understanding of trading flows, capital markets and broker-dealer activities is a plus
- Highly motivated and exceptional organizational skills with the ability to multi-task and meet tight deadlines, while remaining organized in a fast-paced dynamic environment
- Team-oriented with a strong sense of ownership and accountability
- Strong leadership, interpersonal, and relationship management skills
- Robust verbal and written communication skills
- Thorough analytical skills with the ability to demonstrate sound judgement and professional skepticism
- Meticulous approach to identifying discrepancies or inadequacies, and hyper focus on attention to detail and precision
- Proficiency in Microsoft Office Suite applications
- Relevant certification or industry accreditation (e.g., CPA, CFA, CIA, NASD Series) is a plus
- Excellent critical thinking and problem-solving skills with the ability to be adaptable, resourceful, and learn firm and industry standards
