Santander Bank, NA Associate, Business Control & Risk Management in Wyomissing, Pennsylvania
Associate, Business Control & Risk Management - 1901593
The Associate, Business Control & Risk Management, represents the First Line of Defense and is responsible for partnering with Internal Controls to ensure strong internal controls capabilities and remediation of the internal control environment related to Vendor Risk Management for the represented business line and/or functional area. The Associate works to identify, assess and action various risks throughout the assigned business line by executing defined risk programs on the services provided by Vendors supporting the business line.
The incumbent will work directly with Third Party Service Managers, Business Unit Executives, Business Control Officers, Vendor Management and Risk Managers for management and on-going monitoring of Services performed by a Third Party, including the performance of the requirements related to the following Third Party life cycle activities:
The engagement of the Procurement unit per defined sourcing standards, New Products and Business Activities Guidance, Transactions With Affiliates (“TWA”) requirements and Vendor Management processes prior to the engagement process (planning; due diligence; and contracting);
The completion of the Material Risk Assessment to determine if the requirement for a Third Party Inherent Risk Assessments (“IRA”) is applicable or not;
If applicable, assists in the completion of the IRA, which is then reviewed by Vendor Management, in accordance with the approved enterprise risk methodology;
Ensures the Third Party selection process is documented for business case with a strategic purposes, legal and compliance implications associated with the use of the Third Parties including as applicable a cost benefit analysis, details on who and how the Business Unit will monitor the Third Party compliance with Bank policy, scoping of regulatory expectations including potential activities related to AML/BSA, information security, marketing and managing customer complaints in compliance with bank policy;
Works with Business Line Management to ensure that specific Service Level Agreements are defined, and penalties where appropriate, to be included in Master Service Agreements and any supporting Statements of Work as applicable;
Monitors the business lines remediation of identified issues and vulnerabilities to ensure risks are mitigated;
Assists with the collection of any needed documentation from the Third Party as requested by Procurement, Legal or Vendor Management Group (e.g. financial statements, SSAE-16, Business Continuity test results, etc.)
Ensures business line is performing ongoing monitoring on the Third Party Service to ensure it complies with the applicable Service Level Agreements and tracks performance in Hiperos with the Performance Monitoring Tracking template;
If the Third Party is customer-facing, ensures business line transactional reviews are set up and completed for monitoring and testing in compliance with regulatory guidance (e.g., review and approval of call scripts, periodic monitoring of calls or customer interactions, tracking of complaints against the Third Party, etc.);
Ensures Third Party caused customer complaints are tracked, escalated and remediated in alignment with Bank policy expectations by Service Managers;
Additional responsibility statements related to the risk framework:
The incumbent analyzes documentation for evidence of successful and efficient performance;
Applies developing knowledge and supports the design, assessment, and/or administration of quality assurance programs, practices and policies;
Assists in the collection and initial analysis of data, preparation of business owner control surveys;
Conducts quality audits on all routine and complex transactions and correspondence to ensure proper processing according to established quality standards;
Develops training on policies and procedures concerning controls and risk management;
Independently conducts internal control testing, including on-site observations, interviews with management and staff, analytical procedures and statistical/judgmental analysis and testing of data
Interprets regulations affecting control standards with large degree of independence and suggests methods of updating policies and practices to address any risk concerns;
Leads operating process and internal control improvement initiatives;
Manages complex projects that involve working with businesses to improve controls to mitigate any deficiencies;
Partners with Internal Audit, Compliance, and/or Operations Management to share information and escalate issues as needed;
Provides thematic analysis of issues for business to identify emerging trends;
Reports audit results and determines corrective action plans, as necessary;
Reviews current policies and procedures to identify process gaps and opportunities for improvement;
Reviews, monitors and tests internal controls and procedures associated with products, services, customers and operations;
Through walkthroughs and testing, identifies possible internal control breakdowns and gaps and report them to management;
Works with the business to understand the controls currently in place to minimize risk.
Bachelor's Degree; Accounting, Business, Statistics, Risk Management, Information Systems, Finance, Economics or equivalent field.
Master's Degree; Accounting, Business, Statistics, Risk Management, Information Systems, Finance, Economics or equivalent field, or equivalent work experience;
- 5-9 years; Risk Management, Internal Controls, Auditing, Credit Management, relevant line of business experience and/or legal or regulatory experience.
- Risk Certification
Skills and Abilities:
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 collaborate with internal and external service providers to establish resource requirements, scheduling, assignments and service levels.
Ability to constructively work both independently and in collaborative environments involving all levels of management and employees
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 experience supporting and/or leading risk projects across multiple business lines offering a wide variety of financial services products and services.
Excellent analytical and complex problem solving skills.
Knowledge of the financial services sector, particularly with the competitive dynamics and products in retail banking and risk management.
Strong project management skills.
Understanding of BSA/AML and OFAC regulations, regulatory expectations and industry leading practices. [PHYSICAL DEMANDS] Minimal physical effort such as sitting, standing, and walking. [COMPETENCIES] Communicates in a timely and straightforward manner.
Probes for additional information, clarifies assumptions and confirms agreed-upon actions.
Keeps everyone involved informed about progress and issues.
Communicates the importance and benefits of risk management to counterparts.
Displays natural skepticism and curiosity to question the status quo and uncover issues.
Adheres to a good root cause analysis process.
Creates a good working environment in the team; works towards shared goals contributing ideas and accepting change Provides assistance and coaches less experienced team members.
Executes risk management process and procedures without management direction, and demonstrates awareness of expected results.
Knows the relationship and impact of actions and results.
Has an understanding of regulations impacting area supported.
Follows through to meet commitments to others Takes responsibility for achieving strong results, despite balancing multiple complex demands.
Knows who to reach out to inside and outside of one’s team to get work done.
Takes action to enhance working relationships needed to achieve seamless work flow.
Stays current with industry and regulatory trends and emerging risk issues.
Has good understanding of current market and competitive landscape that the organization operates within.
Uses information and data effectively to support a position and present a rational case.
Job : Business Control
Primary Location : Pennsylvania-Wyomissing-1130 Berkshire Boulevard - 06410 - Corporate
Organization : Consumer & Business Banking (1001)
Schedule : Full-time
Job Posting : Mar 15, 2019, 6:45:25 PM
AN EQUAL OPPORTUNITY EMPLOYER M/F/Vet/Disabled/SO
Santander Bank, NA
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