YOUR IMPACT

You are looking to join a fast-paced, dynamic team that has broad connectivity across the firm. You will collaborate with teams across Goldman Sachs Asset & Wealth Management to administer charitable giving in Goldman Sachs Donor Advised Philanthropy Fund for Wealth Management Inc (GS DAF). You have a strong desire to learn about the processes and controls around 501(c)(3) public charities. You will conduct due diligence to manage risks and ensure compliance with IRS guidelines.  

OUR IMPACT

Ayco Charitable Services Group (ACSG) is a multi-faceted and cross divisional team within Operations which administers the Donor Advised Funds (DAFs) Goldman Sachs Donor Advised Philanthropy Fund for Wealth Management Inc (GS DAF) and Goldman Sachs Gives (GSG). ACSG collaborates with Private Wealth Advisor teams and clients to effectuate the clients’ granting goals, Engineering to uplift the client experience and Trading to establish plans for investments to maximize client impact. As the DAFs are 501(c)(3) public charities, ACSG is also responsible for producing regulatory reporting on the DAFs granting history in partnership with Legal, Compliance, Controllers and external Auditors. Our team also works actively with the charities who are being granted to in order to confirm they are in good standing with the IRS and gather additional documentation as necessary.

HOW YOU WILL FULFILL YOUR POTENTIAL 
•    Grant Recommendation Review: Conduct comprehensive due diligence on all grant recommendations submitted by DAF donors. This involves verifying the charitable status and eligibility of potential grantee organizations, ensuring compliance with IRS regulations governing 501(c)(3) public charities and donor-advised funds.
•    Organizational Vetting: Research and analyze potential grantee organizations using various public and proprietary databases (e.g., IRS Exempt Organizations Select Check, GuideStar, Charity Navigator). This includes reviewing IRS determination letters, financial statements, annual reports, bylaws, and other relevant documentation.
•    Risk Assessment & Compliance: Identify and assess potential red flags, compliance risks, or conflicts of interest associated with grant recommendations. Escalate complex issues or high-risk situations to senior management for review and resolution. Ensure adherence to anti-money laundering (AML) and sanction screening guidelines as they pertain to charitable giving.
•    Information Gathering & Communication: Proactively communicate with potential grantee organizations via phone and email to gather necessary documentation, clarify organizational activities, or address any questions arising during the due diligence process. Maintain professional and clear communication with DAF donors regarding the status of their grant recommendations and any required additional information. Work with Private Wealth Advisor teams on client requests.
•    Documentation & Reporting: Maintain accurate, detailed, and organized records of all due diligence activities, findings, and communications within our grants management system and Excel spreadsheets. Prepare clear and concise due diligence reports and summaries for internal review.
•    Policy & Procedure Adherence: Adhere strictly to established due diligence policies, procedures, and best practices. Contribute to the continuous improvement of these processes to enhance efficiency and effectiveness.
SKILLS AND EXPERIENCE WE’RE LOOKING FOR 
BASIC QUALIFICATIONS
•    1-3 years of professional experience with a preference towards experience with Donor Advised Funds, or other charitable organizations
•    BA/BS degree
PREFERRED QUALIFICATIONS
•    Candidate must be proactive, enthusiastic and team oriented
•    Strong client service orientation with prior work experience in a role handling client outreach
•    Ability to remain composed under pressure
•    Ability to adapt to new challenges and a fast-changing environment
•    Accuracy and attention to detail
•    Strong written and verbal communication skills