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Private Lending Underwriting (PLU), based in Dallas, TX, is primarily responsible for the underwriting of loans to GS Private Wealth Management (PWM) clients. In this capacity, PLU assesses, underwrites, documents, and monitors the credit and business risks incurred in loan transactions. The underwriting process includes a thorough analysis of the borrower’s financial condition, assessment of collateral securing the loan, identification of risks and mitigants, among other items. This role will focus on loans with private company assets as collateral, but other loans may include commercial real estate, GS and third-party private equity/hedge funds (including co-invest facilities), aircraft, fine art, hobby properties, private company stock, yachts, marketable securities, etc.
PLU also ensures that the underwriting standards approved by the bank are adhered to in the loan approval process, with exceptions appropriately mitigated and documented. In addition, PLU participates in various business-related initiatives, such as new product development and systems/operational enhancements.
Private Lending is a part of GS Private Bank (PB), which is a business initiative of Goldman Sachs. PLU employees are employees of Goldman Sachs Bank USA.
This is a client facing role that requires a sound risk mindset. It is transactional in nature but incorporates relationship management skills to provide our clients with customized solutions and unparalleled service.
HOW YOU WILL FULFILL YOUR POTENTIAL
- Use strong analytical and technical skills as well as fundamental credit analysis to evaluate loan opportunities and develop loan structures that satisfy clients’ needs and meet GS Private Bank risk and return requirements
- Work closely with the Regional Lending Team to source and identify potential transactions
- Develop and maintain a thorough understanding of the Bank’s risk tolerance and deal structure preferences. Ensure consistency and quality in the underwriting process
- Develop working relationships with GSAM Private and Investment Banking divisions, to supplement diligence, as needed and to the extent firmwide relationships add value to the understanding of credit decisions
- Document the loan structure and analysis for capital committee approval
- Participate in loan document negotiation, ensuring that terms are consistent with the approved capital committee structure and that appropriate internal ratings are assigned to each loan transaction
- Lead portfolio management activities for positions, including client interaction
- Ensure that loan approvals and policy exceptions are documented appropriately and that credit files are maintained
- Interact with banking regulators on an as-needed basis. Provide other support of GS Bank USA’s loan portfolio as requested
- Develop and implement training materials for all team members; recruit and retain underwriting team members
- Foster and coordinate strong communication with Regional Private Lending teams, Credit Risk Management, PWM teams, clients and GS Bank USA personnel
SKILLS & EXPERIENCE WE’RE LOOKING FOR
- A Bachelor’s degree (MBA preferred for a more senior role)
- CFA or CPA a plus
- 8-10+ years of work experience analyzing corporate credit (mortgage or insurance underwriting is not relevant for this role)
- Relevant work experience in leveraged finance, commercial banking, and/or other private or public credit market roles
- Key skills include detailed knowledge of financial accounting, analysis, and modeling
- Excellent communication skills, both oral and written
- Strong project management, multi-tasking, and work organization skills
- Flexible, personable, confident, and self-motivated while focusing on being a team player
- Desire to be part of a dynamic and growing business
- No licensing required for this role
Source: Goldman Sachs Career Page
