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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 any collateral securing the loan, identification of risks and mitigants, among other items. Types of loans underwritten 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. Start date would be in 2025.
HOW YOU WILL FULFILL YOUR POTENTIAL
- Evaluate all risk and economic implications of transactions, using strong analytical and technical skills
- Work closely with the Regional Lending Team to advise and develop solutions for clients that meet their needs and remain within acceptable risk parameters for the Bank
- Develop and maintain a thorough understanding of the product suite offered in Private Lending. Ensure consistency in the underwriting process and with the standards prescribed in the Product Lending Guides
- Document the loan structure and analysis for credit approval and file documentation purposes
- Ensure that loan documentation is consistent with the approved terms and that appropriate risk ratings are assigned to each loan transaction
- Confirm compliance with all covenant and collateral monitoring procedures
- Ensure that loan approvals and policy exceptions are documented appropriately and that credit files are maintained in a satisfactory manner
- Interact with banking regulators on an as needed basis. Provide other support of GS Bank USA’s loan portfolio as requested
- Foster 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)
- CPA or CFA a plus
- 3+ years of work experience (Associate) in a financial field (mortgage or insurance underwriting is not relevant for this role) or 8+ years of work experience (Vice President)
- Relevant work experience in commercial banking and/or private banking underwriting or credit 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
