AWM | Private Bank | Commercial Real Estate

Job Description
OUR IMPACT
Wealth Management
Across Wealth Management, Goldman Sachs helps empower clients and customers around the world to reach their financial goals. Our advisor-led wealth management businesses provide financial planning, investment management, banking and comprehensive advice to a wide range of clients, including ultra-high net worth and high net worth individuals, as well as family offices, foundations and endowments, and corporations and their employees. Our consumer business provides digital solutions for customers to better spend, borrow, invest, and save. Across Wealth Management, our growth is driven by a relentless focus on our people, our clients and customers, and leading-edge technology, data and design.

Goldman Sachs Private Bank
Goldman Sachs Private Bank provides competitive borrowing and cash management solutions from Goldman Sachs Bank USA that are strategically integrated with our client's wealth management goals. Our experienced team partners with PWAs to advise clients on new loans, refinancing and restructuring of existing loans along with overall liability management. Our lenders and mortgage specialists provide a wide range of creative borrowing solutions against asset classes ranging from marketable securities and alternative investments, residential and commercial real estate to more tailored solutions against private assets such as aviation, fine art or vineyards. All team members are employees of Goldman Sachs Bank, USA

YOUR IMPACT
Do you have a strong financial background, experience in Commercial Real Estate (CRE) underwriting or credit analysis, and are you looking for a dynamic team on which to build your career? We are seeking candidates that are highly analytical and client focused to be part of our Private Lending CRE Underwriting team, which is responsible for the underwriting and portfolio management of structured loans to ultra-high net worth individuals.

Private Bank Underwriting and Portfolio Management – Commercial Real Estate
Private Bank Underwriting and Portfolio Management (PB UPM), based in Dallas, TX, is primarily responsible for the underwriting of loans to GS Private Wealth Management (PWM) clients. In this capacity, PB UPM assesses, underwrites, structures, documents, and monitors the credit and business risks incurred in loan transactions. The underwriting process on the PB UPM commercial real estate team includes a thorough analysis of the guarantor's financial condition, assessment of the CRE securing the loan, identification of risks and mitigants, among other items. The most common loans underwritten by the PB UPM commercial real estate team include all types of CRE, but the team will also underwrite loans secured by GS and third-party private equity/hedge funds (including co-invest facilities), aircraft, fine art, hobby properties, private company stock, yachts, marketable securities, etc.

PB UPM 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, PB UPM participates in various business-related initiatives, such as new product development and systems/operational enhancements.

PB UPM is a part of GS Private Bank (PB), which is a business initiative of Goldman Sachs. PB UPM 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

• 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 or relevant experience
• CPA or CFA a plus
• Vice President 10+ years, Associate 5+ years of work experience in a financial field (mortgage or insurance underwriting is not relevant for this role)
• Relevant CRE 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
• This role is for a 2026 start date

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

We're committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more:

The Goldman Sachs Group, Inc., 2025. 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.