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Santander US Associate, Business Control & Risk Management in Florham Park, New Jersey

Associate, Business Control & Risk Management

Req ID: 2105236 Date posted 10/06/2021

Commercial (CB) and Consumer & Business Banking’s (CBB) Risk Management QC & Testing function is owned and managed by the first line of defense (1st LOD). The team provides an independent assurance on the risk and control environment towards meeting applicable laws, regulations, and guidelines for CB & CBB. The goal of the Testing team is to support compliance with regulations and requirements including the Sarbanes-Oxley Act (SOX), facilitate the assessment of the control suite effectiveness in the Risk and Control Self-Assessment (RCSA) process and inform managers on the adequacy or effectiveness of their control environment.

The Associate joins a team that works to ensure that SBNAs issue management and RCSA programs are complying to the relevant standards. The primary responsibility of the team is to build and execute a Quality Control and Challenge function on Issue management (IM) and RCSA framework within FLOD for SBNA.

Duties & Responsibilities:

  • Support implementation of a Quality Control (QC) program to validate compliance of issue management & RCSA programs to relevant standards and ensuring accuracy of data in the system of record. The monthly QC program is expected to include (but not limited to):

  • Assessing accurate and effective issue management and reporting throughout the lifecycle of an issue. Assessing issues’ broader impact considerations are properly evidenced and appropriate rating classification changes due to errors and without adequate support.

  • Monitoring complete and accurate issue descriptions and root cause analysis, adequate triage processes where stakeholder involvement and their decisions are sufficiently documented

  • Assessing process identification and prioritization used to determine the priority in which RCSA activities will be executed across the subsidiaries.

  • Validation of process prioritization and assignment of ratings of 1, 3, or 5 to each factor based on rating definitions.

  • Review of Process maps to ensure Critical/High risks are captured and associated key controls at the location on the map where the risk or control exists in the process, including the identification of hand-offs to other processes across the organization.

  • Utilizing documented process maps or process walkthroughs, identify/confirm risks, including those that align to a regulation associated with the activities in the process, along with the associated controls and tests.

  • Assessing adequate rationale documented to support the IRR, along with any assumptions taken into consideration when calculating the impact.

  • Review the Control Suite Effectiveness CSE rating justification and verify if all factors were considered in the CSE rating as applicable: Control assessments, Action Drivers, Events, KRI breaches, missing controls, Compensating/non-key controls

  • Review various business processes and assess the adequacy of controls designed to mitigate the risks identified.

  • Draft and execute test procedures to assess operating effectiveness of controls for in scope RCSA processes.

  • Obtain, examine and analyze records from various systems, reports, operating practices, and documentation for compliance with bank policies, regulatory compliance and adherence to appropriate procedures.

  • As part of controls testing, analyze for process deficiencies for in scope RCSA process.

  • Ensure proper utilization of bank policies and line of business procedures.

  • Collect, document and summarize results for the Business Unit, and present findings to line or business manager

  • Support the QC Director and IM & RCSA Program Directors to identify, develop and document corrective action plans, for noted trends or deficiencies

  • Partner with the business to enhance or implement controls to address deficiencies

  • Represent the department during internal and external audits/exams as required

  • Participate in special projects as directed by the IM & RCSA QC Director.

At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We encourage everyone to apply.

  • Bachelor's Degree; Accounting, Business, Statistics, Risk Management, Information Systems, Finance, Economics or equivalent field.

  • 5-9 years; Risk Management, Internal Controls, Auditing, relevant line of business experience and/or legal or regulatory experience.

  • Proficiency with Microsoft Office Suite including Excel, PowerPoint, Word, and Visio

  • Ability to build positive relationships with team members across the organization

  • Ability to interact successfully with a variety of business partners across the organization including transaction banking, legal, compliance, technology and operations, to ensure risks are mitigated and compliance with relevant policies and procedures

  • Strong organizational skills with the ability to work in dynamic environment, that demands the ability to manage multiple, and often competing priorities

  • Understand complex business processes, risks and controls in manual / automated environment

  • Strong analytical and problem solving skills

  • Strong oral and written communication skills and the ability to summarize and present complex information and issues succinctly for the required target audience

Primary Location: Florham Park, New Jersey, United States

Other Locations: New Jersey-Florham Park

Organization: Santander Bank, N.A.

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.

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