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Associate, Business Control & Risk Management

Company: Santander Holdings USA Inc
Location: Billerica
Posted on: July 29, 2022

Job Description:

Associate, Business Control & Risk Management

Dorchester, United States of America

WHAT YOU WILL BE DOING

The Associate, Business Control & Risk Management operates within the First Line of Defense and is accountable to assist the Business Control & Risk Management team in driving effective and consistent business line execution against the Enterprise Risk Management Framework. Specifically, the Associate works to identify, assess key risks and control effectiveness throughout the assigned business line by driving business unit adherence with applicable risk frameworks, Corporate/Business Line policies and standards. S/He will also assist with completion of business line risk initiatives, as assigned, such as risk assessments, KRI/KPI development and monitoring, and on-time remediation of issues. The Associate must be able to effectively partner with various stakeholders

Ensures transparency of business results, finance and processes. Typically organizes a reporting system and tracks goals accomplishment, collect and process data and provides managers with all necessary company management data and information.

Responsibilities:

  • Drive Risk Culture: Ensure awareness in the Business Line of risk frameworks, policies and standards.
  • Communication & Training: Work with team members and key stakeholders to develop appropriate metrics and deliver relevant and accurate data. Work with internal teams to gain an in-depth understanding of existing risks, causes, severity rating, controls and remediation Maintain two-way communications with SLoD. Facilitate training for Business Lines to provide awareness of risk frameworks, policies, programs, processes, etc.
  • Adherence to Risk Frameworks, Policies, and Standards: Partner with SLoD to provide input/review of frameworks, policies and standards. Facilitate Business Line awareness of and adherence to risk frameworks, policies, and standards and issue validation. Report and escalate exceptions and facilitate Business Line corrective actions
  • Continuously monitors all sources of risk existing within the Business Line and externally. Engage in research, peer networking, and experience to anticipate critical risk issues impacting the Business Line. Understand where operational, strategic, reputational, compliance, and model risks exist in the Business Line and continually assess and improve controls to mitigate those risks. Monitor Key Risk Indicators and report on negative/adverse trends in Business Line. Monitor risk profile to maintain tolerance within Risk Appetite.
  • Where applicable, Issue Identification, Management, and Risk Assessment: Conduct RCSA responsibilities including Process Mapping, Risk & Control Matrices, Inherent Risk Assessments, Internal Control testing and Heracles data/input. Engage and hold Business Line process owners accountable to identify and assess risks. Support Business Lines in risk identification (e.g., NPBA, change management, etc.) Ensure all issues (Self-Identified, IA, Credit Risk Review or Regulatory) pertaining to the Business Line are resolved within established timelines. Validate issues to ensure Business Line remediation is sufficient to address root cause and prevent recurrence.
  • Internal Control Testing: Implement and maintain internal control testing and control effectiveness monitoring in the Business Line. Validate the adequacy of controls, escalate deficiencies as appropriate. Identify root causes of control deficiencies/weaknesses and take appropriate action to ensure Business Lines remediate and prevent recurrence.
  • Exam Management: Liaison with the Business Line for all exam related activities including regulatory, Internal Audit and Credit Risk Review. Review materials, responses and validate Business Line remediation work (e.g., artifacts, action plans, etc.)
  • Support the implementation of Key Risk Indicator (KRI) framework: Formally define and document metric definition details (metric type, provider, approver, numerator & denominator descriptions, source, scope, thresholds, Risk Basel category) in the centralized repository, Support structured metric submission process with established timeline and requirements.
  • Support the implementation of Key Risk Indicator (KRI) framework: Formally define and document metric definition details (metric type, provider, approver, numerator & denominator descriptions, source, scope, thresholds, Risk Basel category) in the centralized repository, Support structured metric submission process with established timeline and requirements
  • To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

    Requirements:
    • Education -
      • Bachelor's Degree: Accounting, Business, Statistics, Risk Management, Information Systems, Finance, Economics or equivalent field. Or equivalent work experience
      • Master's Degree: Accounting, Business, Statistics, Risk Management, Information Systems, Finance, Economics or equivalent field a PLUS
      • Experience -
        • 5-9 years Risk Management, Internal Controls, Auditing, Credit Management, relevant line of business experience and/or legal or regulatory experience.
        • Skills & Abilities -
          • Demonstrated experience supporting and/or leading risk projects across multiple business lines offering a wide variety of financial services products and services.
          • Knowledge of the financial services sector, particularly with the competitive dynamics and products in retail banking and risk management.
          • Advanced understanding of the regulatory environment and how the risks of the products and services the bank offers are viewed by the Second Line of Defense and regulators.
          • Ability to build credibility with, collaborate with, and influence line of business executives.
          • Excellent analytical and complex problem-solving skills.
          • Strong project management skills.
          • Ability to constructively work both independently and in collaborative environments involving all levels of management and employees
          • Ability to collaborate with internal and external service providers to establish resource requirements, scheduling, assignments and service levels.
          • Ability to build internal and external networks of information resources within the risk management ecosystem.
          • Understanding of BSA/AML and OFAC regulations, regulatory expectations and industry leading practices.
          • Licenses & Certifications -
            • Other Risk Certification

              Diversity & EEO Statements: At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply.

              Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.

              Working Conditions: Frequent Minimal physical effort such as sitting, standing and walking. Occasional moving and lifting equipment and furniture is required to support onsite and offsite meeting setup and teardown. Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders.

              Employer Rights: Employer Rights: This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason.

              WHAT WE ARE LOOKING FOR

              EXPERIENCE

              EDUCATION

              Bachelor of Science (BS), Masters of Science (MS)

              COMPETENCIES

              Other - Other Masters of Science (MS) English

              Primary Location: Dorchester, Massachusetts, United States of America

              Other Locations: Massachusetts-Dorchester

              Organization: Santander Bank N.A.

Keywords: Santander Holdings USA Inc, Billerica , Associate, Business Control & Risk Management, Executive , Billerica, Massachusetts

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