Senior Associate, Business Control & Risk Management - Payment Operations
Company: Santander Holdings USA Inc
Posted on: August 2, 2022
Senior Associate, Business Control & Risk Management - Payment
Reading, United States of America
WHAT YOU WILL BE DOING
The Senior 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
- This individual is expected to champion the Business Control
mandate as a critical business partner guiding stakeholders to
embed Risk Management practices in the 1st line of defense (FLoD)
for Payment Operations, Cash Management, and ATM for SBNA
Operations. Within the following areas:
- Credit Cards
- Debit/ATM Card
- Emerging Payments (such as RTP, Apple Pay, P2P other emerging
- General Ledger
- Intraday Liquidity
- Merchant Acquiring and Processing
- Prepaid/Stored Value Cards
- Real-Time Payments (RTP) - defined separately but may be
classified as an emerging payment type
- SWIFT (primarily used for international wires, but also
includes other message types and could therefore be considered
- The Senior Associate serves as a subject matter expert by
advising and guiding risk initiatives such as Risk and Control
Self-Assessments (RCSAs), developing and monitoring KRIs/KPIs,
working with the business line to proactively self-identify issues,
and ensuring on-time documentation and remediation of issues.
- The Senior Associate must be able to effectively collaborate
with various stakeholders while influencing strategic goals.
- Monitors activities to minimize the company's exposure to
- Activities may include quantitative analysis, risk
identification, and remediation. Represents or supports the
reputation of the company to minimize compliance and regulatory
risk by resolving issues and ensuring adherence to company and
- Responsible for ensuring that all the company's activities
adhere to the necessary rules and regulations and that the company
complies with legal/regulatory statutes and jurisdictions.
- Ensures transparency of business results, finance, and
- Typically organizes a reporting system and tracks goals
accomplishment, collects and processes data, and provides managers
with all necessary company management data and
information.Essential Functions/Responsibil i ties:
Drive Risk Culture:
- Ensures awareness in the Business Line of risk frameworks,
standards, and policies.Communication & Training:
- Maintains two-way communications with SLoD.
- Facilitates training for Business Lines to provide awareness of
risk frameworks, policies, programs, processes, etc.Adherence to
Risk Frameworks, Policies, and Standards:
- Partners with SLoD to provide input/review of frameworks,
policies, and standards.
- Facilitates Business Line awareness of and adherence to risk
frameworks, policies, and standards.
- Reports and escalates exceptions and facilitate Business Line
corrective actions.Continuous Monitoring:
- Continuously monitors all sources of risk existing within the
Business Line and externally.
- Engages in research, peer networking, and experience to
anticipate critical risk issues impacting the Business Line.
- Understands where the credit, market/liquidity, operational,
strategic, reputational, compliance, and model risks exist in the
Business Line and continually assesses and improves controls to
mitigate those risks.
- Monitors Key Risk Indicators and reports on negative/adverse
trends in Business Line.
- Monitors risk profile to maintain tolerance within Risk
Appetite. Issue Identification, Management, and Risk Assessment:
- Conducts RCSA responsibilities including Process Mapping, Risk
& Control Matrices, Inherent Risk Assessments, Internal Control
testing, and system (Heracles) input.
- Engages and holds Business Line process owners accountable to
identify and assess risks.
- Supports Business Lines in risk identification (e.g., new
product committee, change management, etc.).
- Ensures all issues (Self-Identified, Internal Audit, Credit
Risk Review, or Regulatory) pertaining to the Business Line are
resolved within established timelines.
- Validates issues to ensure Business Line remediation is
sufficient to address the root cause and prevent recurrences.
Internal Control Testing:
- Implements and maintains internal control testing and controls
effectiveness monitoring in the Business Line.
- Validates the adequacy and design of controls and escalates
deficiencies as appropriate.
- Identifies root causes of control deficiencies/weaknesses and
takes appropriate action to ensure Business Lines remediate and
prevent a recurrence.
- Understanding of BSA/AML and OFAC regulations, regulatory
expectations, and industry-leading practices.Exam Management:
- Liaison with the Business Line for all exam-related activities
including regulatory, Internal Audit, and Credit Risk Review.
- Reviews materials, and responses and validates Business Line
remediation work (e.g., artifacts, action plans, etc.)
- Manages and executes risk-related activities and routines as
part of the following operational risk programs: Risk and Control
Self-Assessment (RCSA), Issues Management, Scenario Analysis, Top
Risk, Material Risk Program, Event Escalation, Loss Management, and
Application Inherent Risk Assessment.Qualifications:
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
- Bachelor's Degree or equivalent work experience in Accounting,
Business, Statistics, Risk Management, Information Systems,
Finance, Economics, or equivalent field. (Required)
- Master's Degree in Accounting, Business, Statistics, Risk
Management, Information Systems, Finance, Economics, or equivalent
field. (Preferred)Work Experience:
- Must have Payment Operations experience
- Risk Management, Compliance, Internal Controls, Auditing,
Credit Management, relevant line of business experience and/or
legal or regulatory experience., 9-12 years (Required)
- Business Unit, 5-9 years (Required)Skills and Abilities:
- 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 (OCC,
CFPB, FRB, etc.) and how the risks of the products and services the
bank offers are viewed by the Second Line of Defense and
- Demonstrated judgment in escalation, ensuring a risk-based
clear line of sight for senior executives into existing and
- Ability to build credibility with, collaborate with, and
influence line of business executives.
- Excellent analytical and complex problem-solving skills.
- Superior project management skills.
- Demonstrated ability to work autonomously and while managing to
multiply organizational deadlines and duties.
- Ability to constructively work both independently and in
collaborative environments involving all levels of management and
- Ability to collaborate with internal and external service
providers to establish resource requirements, scheduling,
assignments, and service levels.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.
- Frequent Minimal physical effort such as sitting, standing, and
- Occasional moving and lifting equipment and furniture are
required to support onsite and offsite meeting setup and
- Physically capable of lifting fifty pounds, able to bend,
kneel, and climb ladders.Employer Rights:
- This job description does not list all the job duties of the
- You may be asked by your supervisors or managers to perform
other duties. You may be evaluated in part based on your
performance of the tasks listed in this job description.
- The employer has the right to revise this job description at
- This job description is not a contract for employment and
either you or the employer may terminate at any time for any
Masters of Science (MS) English More than 5 years of relevant
Primary Location: Reading..... click apply for full job
Keywords: Santander Holdings USA Inc, Glendale , Senior Associate, Business Control & Risk Management - Payment Operations, Accounting, Auditing , Glendale, Arizona
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