Sr. Associate, Business Control & Risk Management

About Santander

Santander is a global leader and innovator in the financial services industry. We believe that our employees are our greatest asset. Our focus is on fostering an enriching journey that empowers you to explore diverse career opportunities while nurturing your personal growth. We are committed to creating an environment where continuous learning and development are prioritized, enabling you to thrive both professionally and personally. Here, you will find ample opportunities to connect and collaborate with talented colleagues from around the world, sharing insights and driving innovation together. Join us at Santander, where you are supported by a culture of engagement and a commitment to your success.

About the Role

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.

The incumbent 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.

Key Responsibilities

Drive Risk Culture

• Ensure awareness in the Business Line of risk frameworks, policies and standards.

Communication & Training

• 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.
• 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 (Self-Identified, 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.