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Senior Associate, Business Control & Risk Management - Payment Operations

Company: Santander Holdings USA Inc
Location: Glendale
Posted on: August 2, 2022

Job Description:

Senior Associate, Business Control & Risk Management - Payment Operations

Reading, United States of America


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 Management Framework.

  • 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:
  • ACH
  • Cash
  • Checks
  • Credit Cards
  • Debit/ATM Card
  • Emerging Payments (such as RTP, Apple Pay, P2P other emerging payment types)
  • 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 separate)
  • Wire
    • 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.
      Job Description:
      • Monitors activities to minimize the company's exposure to risk.
      • 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 legal standards.
      • 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 processes.
      • 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 functions.

                      • 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 regulators.
                          • Demonstrated judgment in escalation, ensuring a 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.
                          • 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 employees
                          • 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.

                            Working Conditions:
                            • Frequent Minimal physical effort such as sitting, standing, and walking.
                            • Occasional moving and lifting equipment and furniture are required to support onsite and offsite meeting setup and teardown.
                            • 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 job.
                              • 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 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.

                                Masters of Science (MS) English More than 5 years of relevant work

                                Primary Location: Reading..... click apply for full job details

Keywords: Santander Holdings USA Inc, Glendale , Senior Associate, Business Control & Risk Management - Payment Operations, Accounting, Auditing , Glendale, Arizona

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