Commercial Banking Santander's Commercial Banking Division is an active provider of capital, treasury management and risk management solutions to thousands of small and mid-sized companies in the northeast and across the country. We also have expertise and provide service to specific industry sectors including real estate, asset based lending, energy, education, health care and government.
Our clients rely on the strength of Santander's balance sheet and the degree to which our relationship managers understand their businesses in order to develop the most relevant and compelling solutions. In addition, Santander's significant international presence in regions around the world uniquely positions us to help companies grow their business, both near and far.
The Sr. 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. S/He is expected to champion the Business Control mandate as a critical business partner guiding stakeholders to embed risk management practices in the 1st line. The Sr. Associate serves as a subject matter expert by advising and guiding risk initiatives such as risk assessments, KRI/KPI development and monitoring, working with the business line to proactively self-identify issues, and ensure on-time remediation of issues. The Sr. Associate must be able to effectively collaborate with various stakeholders while influencing strategic goals.
Duties and responsibilities
- Drive Risk Culture: Ensure awareness in the Business Line of risk frameworks, policies and standards.
- Communication & Training: Act as central point of contact for receipt and distribution of risk related information between SLoD risk teams and Business Lines. 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 through internal control testing and issue validation. Report and escalate exceptions and facilitate Business Line corrective actions.
- Continuous Monitoring: 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 credit, market/liquidity, 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.
- 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 (SelfIdentified, 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.).
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.
- Bachelor's Degree or equivalent work experience Accounting, Business, Statistics, Risk Management, Information Systems, Finance, Economics or equivalent field.
- 9-12 years Risk Management, Internal Controls, Auditing, Credit Management, relevant line of business experience and/or legal or regulatory experience.
- Demonstrated experience executing risk projects across multiple business lines offering a wide variety of financial services products and services.
- Advanced knowledge of the financial services sector, particularly with the competitive dynamics and products in retail banking and risk management.
- Demonstrated thought leadership and application of operational risk identification and mitigation practices and procedures.
- 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.
- Demonstrated judgement in escalation, ensuring risk-based clear line of sight for senior executives into existing and emerging issues/incidents. Ability to build credibility with, collaborate with, and influence line of business executives.
- Ability to build internal and external networks of information resources within the risk management ecosystem.
- 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. Superior project management skills.
- Excellent analytical and complex problem solving skills. Ability to anticipate the impact of regulatory and other environmental factors and proactively take action to ensure the team/function/enterprise is prepared.