Associate, Business Control & Risk Management
Company: Santander Holdings USA Inc
Location: Somerville
Posted on: May 9, 2022
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Job Description:
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, Somerville , Associate, Business Control & Risk Management, Executive , Somerville, Massachusetts
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