Compliance Specialist — Wealth & Investment Products– Compliance (OPENBANK) at Santander

Madrid, Community of Madrid, Spain

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Not SpecifiedCompensation

Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial Services, Wealth Management, InvestmentIndustries

Requirements

+5 years of experience in compliance or regulatory advisory within the investment sector
University or Master’s degree in Law, Business Administration, Economics, or related field
Strong regulatory knowledge, with experience working within compliance frameworks; direct exposure to audits and inspections is a plus
Solid understanding of European regulations, especially MiFID II; knowledge of MiCA is highly desirable
High level of English (C1), both written and spoken
Excellent communication and writing skills, with the ability to convey complex information clearly
Strong organizational skills and ability to work independently
Curiosity, proactivity, and a drive to learn and take initiative
Nice-to-have: Experience with SFDR

Responsibilities

Support the implementation and maintenance of a robust Compliance Monitoring Programme for investment services and products (MiFID II, MiCA, SFDR). Perform second-line defense controls, identify weaknesses, and issue recommendations
Identify, assess, and mitigate compliance risks associated with existing and new investment products, including risks related to crypto-assets. Support the management of compliance incidents
Monitor regulatory changes and advise Wealth and Product teams on potential impacts to investment activities
Support in timely and accurate regulatory reporting, including the Compliance Committee. Draft regular compliance reports for senior management to support informed decision-making
Contribute to regulatory strategy and support future license extension processes
Draft, update, and maintain compliance policies and control documentation to reflect regulatory changes and improve operational effectiveness
Support interactions with supervisors (mainly the CNMV/ESMA) regarding investment services, inspections, and updates. Assist in coordinating and preparing audit responses
Help develop and deliver compliance training programs for employees
Work closely with Legal, Risk, Technology & Operations, and Business Investment teams to promote a strong compliance culture

Skills

MiFID II

MiCA

SFDR

Compliance Monitoring

Regulatory Compliance

Investment Products

Risk Management

Second-Line Defense

Santander

Provides banking, investment, and insurance services

About Santander

Santander Bank provides a variety of financial services to individuals, small businesses, and large corporations in the United States. Its offerings include savings and checking accounts, loans, credit cards, and investment products. The bank also has specialized services through Santander Investment Services and insurance products via Santander Securities LLC. Santander stands out from its competitors by focusing on community growth, committing $13.6 billion to support initiatives like the 'Cultivate Small Business' program, which aids early-stage entrepreneurs, especially from underrepresented groups. The bank generates revenue through interest on loans, service fees, and commissions, while promoting responsible banking practices and financial education. Santander's goal is to empower individuals and businesses, enhance community prosperity, and provide comprehensive financial solutions.

Boston, MassachusettsHeadquarters

1902Year Founded

$75MTotal Funding

POST_IPO_DEBTCompany Stage

Fintech, Financial ServicesIndustries

10,001+Employees

Benefits

Health, dental, & vision

401k

Flexible PTO

Parental & sick leave

Discounts: technology, travel, auto, fitness, & tuition

Risks

ISO 20022 transition may challenge smaller business partners.

'Quishing' attacks pose a growing threat to consumer security.

Openbank faces competition in the U.S. high-yield savings market.

Differentiation

Santander's Openbank offers a 5.00% APY high-yield savings account nationwide.

The bank's Inclusive Communities Plan pledges $13.6 billion for community initiatives.

Santander's ISO 20022 adoption enhances operational efficiency and data management.

Upsides

Openbank's high-yield savings account attracts more U.S. customers.

Santander's renewable energy financing highlights commitment to sustainable investments.

Proactive cybersecurity measures enhance customer trust and protect digital assets.

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