Job Description

Job Duties: Associate with Goldman Sachs & Co. LLC in Dallas, Texas, Monitor and reconcile originated Automated Clearing House (ACH) transactions prior to sending to the Federal Reserve.  Identify, investigate, and action ACH exceptions within National Automated Clearinghouse Association (NACHA) timeframes. Perform daily bank reconciliation of general ledger accounts related to the consumer business. Investigate and resolve breaks identified through bank reconciliation process. Participate in defining business requirements and testing approach and scripts for consumer products related to banking products such as retail deposits and credit card business. Monitor work stream performance and analyze Automated Clearing House (ACH) risks and barriers to improve efficiency and mitigate risk. Develop a full understanding of relevant product and market knowledge of payment rails correlating to consumer banking products and the regulations that impact them. Develop Automated Clearinghouse (ACH) reporting and monitoring metrics, identifying issues, and making recommendations to resolve. Participate in the delivery of new projects relating to consumer banking products and the development of monitoring tools and processes such as system configurations, operational procedures, and trainings. Partner with stakeholders to track and deliver joint goals to develop and improve the consumer product platform.  Address operational and financial risks to clients and financial institutions associated with payment operations in a real-time environment. Partner with internal and external teams and/or vendors, financial institutions, including agent banks to resolve payment system issues, late ACH returns, and customer postings.

Job Requirements: Master’s degree (U.S. or foreign equivalent) in Finance, Economics, Business Administration or a quantitative or an analytical field such as Mathematics, Petroleum Engineering, Chemical Engineering, or Computer Engineering, or a related field and one (1) year of experience in the job offered or in a related role OR Bachelor’s degree (U.S. or foreign equivalent) in Finance, Economics, Business Administration or a quantitative or an analytical field such as Mathematics, Petroleum Engineering, Chemical Engineering, or Computer Engineering, or a related field and three (3) years of experience in the job offered or in a related role. Prior experience must include one (1) year of experience with the following: working in a regulated banking environment and cross-functional teams to identify risk gaps and developing continuous improvement initiatives to mitigate against fraud, including understanding where operational processes to identify risks and/or gaps; developing internal, operational training and statements of procedures for the team to ensure day-to-day functions are performed efficiently; partnering with business units to resolve incidents, file errors and rejects, and monitoring controls; working directly with the line and cross-functional teams to identify risk gaps and continuous improvement opportunities; addressing and escalating external vendor and internal system issues related to payment processing and ensuring resolution of issues identified; cash management and working with U.S. payment systems, including ACH, Fedwire, checks, and network rails; developing operational procedures related to day-to-day functions, working with various project teams such as Change Management, Risk, Fraud, or Engineering, and assisting with building out systems and controls related to external vendor payment systems, and ensuring operational controls are adhered to meet new consumer business requirements and onboarding industry or regulatory requirements; NACHA operating rules, including returns and exception item processing; and bank account reconciliation, ACH file monitoring, and manually posting transactions.

©The Goldman Sachs Group, Inc., 2024. All rights reserved. Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Veteran/Sexual Orientation/Gender Identity.

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