Posted 2 months ago
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Lead review and negotiation of legal contracts supporting onboarding and servicing of Transaction Banking clients, including Escrow Agreements, Deposit Account Control Agreements (DACA), and Banking Resolutions. Collaborate with Legal, Compliance, Risk, Product and Coverage teams to ensure contract terms align with operational processes and controls, and support post-closing obligations, account setup/funding and servicing. Serve as the subject matter expert for global Escrow and DACA accounts and end-to-end operational processes, helping to enable new business opportunities. Requires 3+ years of financial services experience with prior escrow/DACA agreement review and working knowledge of banking operations.
- Compensation
- $100,000 – $235,000 USD
- City
- New York City
- Country
- United States
Currency: $ (USD)
Full Job Description
MORE ABOUT THIS JOB
Transaction Banking Operations is part of Transaction Banking within the Platform Solutions Division. We are responsible for building, developing and supporting Goldman Sachs Transaction Banking offering that is delivering a range of treasury and cash management products to our corporate client base. Transaction Banking Operations provide essential risk management and controls architecture to preserve and enhance the firm's assets and reputation. For every new product launched and every trade executed, it is Operations that develops and manages the processes and controls that enable business flow.
TRANSACTION BANKING OPERATIONS
Transaction Banking Operations is part of Transaction Banking within the Platform Solutions Division, comprised of below primary functions:
- We enable Coverage by providing clients a differentiated experience through their pre-sales and go-live journey, through onboarding, implementation and testing, go live and early-stage support
- We provide best in class service to our clients post go live across all their business needs, including payments and transactions flows across our global payment rails
- We support the build and development of new Treasury Products, Services and Partnerships, alongside Product, Risk and Engineering teams, by handling all Operational process, procedure and control development
TxB Operations is a growing sub-division, with regional presence in Singapore, Bengaluru, London, New York, and Dallas. All our offices work closely together as a single global team. As this business expands, we will look to increase our global footprint accordingly.
YOUR IMPACT
The Transaction Banking Client Onboarding team is seeking a seasoned and driven individual with experience reviewing legal contracts, including Escrow Agreements, Deposit Account Control Agreements (DACA), and client Banking Resolutions. You will work with clients, counsel, and internal product partners to support the onboarding and servicing of accounts, from negotiation to setup/funding and post-account opening activities.
HOW YOU WILL FULFILL YOUR POTENTIAL (RESPONSIBILITIES)
- Lead the review of legal contracts supporting the onboarding and servicing of Transaction Banking clients, in close partnership with Legal, Compliance, Risk, and Product teams
- Understand the business purpose and deal structure for Transaction Banking accounts, including Escrow and DACA
- Understand duties to be performed by Transaction Banking as the Escrow Agent and DACA Bank, and the impact of legal terms on operational processes
- Ensure all terms outlined in the governing Escrow/DACA agreement support Transaction Banking processing and capabilities (prior working knowledge of operational processing within banking is a plus)
- Support the Transaction Banking Operations team in post-closing obligations, based on the negotiated contracts.
- Partner with Product and Coverage to maximize new business opportunities, including but not limited to Escrow/DACA
- Serve as the subject matter expert for global Escrow and DACA accounts and end-to-end operational processes.
QUALIFICATIONS REQUIRED
- 3+ years of professional experience in financial services, preferably in Escrow, Account Bank, Trust and/or Custody
- Prior experience of reviewing and negotiating legal agreements supporting Escrow/DACA transactions, Banking Resolutions, and other banking terms
- Working knowledge of banking operations, including client onboarding and servicing
- Strong verbal and written communication skills
- Excellent organization, project management and attention to detail
- Experience with stakeholder coordination (both internal and external parties)
ABOUT GOLDMAN SACHS
At Goldman Sachs, we commit our people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Founded in 1869, we are a leading global investment banking, securities and investment management firm. Headquartered in New York, we maintain offices around the world.
We believe who you are makes you better at what you do. We're committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally, from our training and development opportunities and firmwide networks to benefits, wellness and personal finance offerings and mindfulness programs. Learn more about our culture, benefits, and people at GS.com/careers.
We’re committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: https://www.goldmansachs.com/careers/footer/disability-statement.html
© The Goldman Sachs Group, Inc., 2023. All rights reserved.
Goldman Sachs is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, national origin, age, veterans status, disability, or any other characteristic protected by applicable law.
Salary Range
The expected base salary for this New York, New York, United States-based position is $100000-$235000. In addition, you may be eligible for a discretionary bonus if you are an active employee as of fiscal year-end.
Benefits
Goldman Sachs is committed to providing our people with valuable and competitive benefits and wellness offerings, as it is a core part of providing a strong overall employee experience. A summary of these offerings, which are generally available to active, non-temporary, full-time and part-time US employees who work at least 20 hours per week, can be found here.
