Compliance, Financial Crime Compliance, Associate, Salt Lake City

Global Compliance   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.
Financial Crime Compliance ("FCC")    FCC coordinates Goldman Sachs' enterprise-wide anti-money laundering (AML), economic sanctions, e-communications and anti-bribery compliance efforts. The combined FCC team, which is composed of professionals with extensive law enforcement, regulatory, legal, compliance, forensic consulting, operations and business experience, administers an array of surveillances, due diligence, investigative expertise and other control processes designed to identify potential money laundering, terrorist financing, bribery, securities fraud and other violations of law.  

Job Summary & Responsibilities 

Financial Crime Compliance ("FCC") coordinates Goldman Sachs' enterprise-wide anti-money laundering (AML), economic sanctions, e-communications and anti-bribery compliance efforts. The combined FCC team, which is composed of professionals with extensive law enforcement, regulatory, legal, compliance, forensic consulting, operations and business experience, administers an array of surveillances, due diligence, investigative expertise and other control processes designed to identify potential money laundering, terrorist financing, bribery, securities fraud and other violations of law. 

The Know Your Customer Strategy team within Financial Crime Compliance is seeking an Associate for a compliance role with expertise in Anti-Money Laundering and Know Your Customer programs at large financial institutions. The Associate will be responsible for managing and developing compliance projects and initiatives across the firm’s businesses and will be responsible for liaising with compliance, operations, technology, and business groups to advise on KYC-related questions, determine system and onboarding requirements, perform data and system analysis, draft specification documents for technology, and conduct system and user acceptance testing. In addition to advising on Know Your Customer regulations and requirements, including Customer Identification Program and Customer Due Diligence requirements, the Associate will also be responsible for the development of customer due diligence rules, threshold setting, customer segmentation, and development and execution of UAT tests.  The ideal candidate should have a thorough understanding of KYC related processes and solutions, including customer onboarding, enhanced due diligence, and customer risk rating.

The ideal candidate will have strong analytical skills, experience working in KYC, the ability to collaborate with others, the ability to manage projects and processes, and the ability to multi-task. This role will work closely with compliance, operations, technology, and business personnel and would be expected to quickly gain an understanding of the global Goldman Sachs businesses and the rules and regulations under which the firm operates.

Principal Responsibilities:

• Supporting compliance personnel in capturing, analyzing, and documenting requirements and process flows, including drafting specification and business requirement documents for KYC processes in the Digital Finance businesses
• Assisting in the development and implementation of onboarding controls and tools, including watchlist screening, adverse media screening, enhanced due diligence and customer refresh
• Maintain standards for KYC procedures, BTL (Below the Line) testing, ABL (Above the Line) testing
• Support ongoing optimization to the effectiveness of KYC monitoring systems, scenarios, rules and tools
• Developing and proposing recommendations to address identified issues/risks as well as areas and processes requiring optimization and improvement. Understan