The author of Money and Power: How Goldman Sachs Came to Rule the World, told FINS that the background check at Goldman Sachs is tantamount to an inspection you might receive from a government agent.
And that’s probably because the Goldman inspector used to be one.
“The firm employs a cadre of former private investigators and CIA agents in a special unit dubbed the Reputational Risk Dept,” FINS reported after reading the book.
An ex-Goldman trader explained the process to Cohan: “They basically ream, steam and dry clean you. They look into every aspect of your life. …I was always sort of convinced that they did that to build a dossier on you, so if you ever gave them a problem, they could use it against you.”
That certainly beats the psychological tests that we hear get carried out on interviewees at some hedge funds — though we’re sure Goldman does a little of that too…