Enterprise Risk Management & Business Control Associate

Santander • Boston, MA

4d • $80,625 - $140,000 • Onsite

About The Position

The Associate, Risk Management operates within the Second 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. Specifically, the Associate works to identify, assess key risks and control effectiveness throughout the assigned business line by driving business unit adherence with applicable risk frameworks, Corporate/Business Line policies and standards. The incumbent will also assist with completion of business line risk initiatives, as assigned, such as risk assessments, KRI/KPI development and monitoring, and on-time remediation of issues. The Associate must be able to effectively partner with various stakeholders.

Requirements

• Bachelor’s degree in a related field or equivalent demonstrated through a combination of work experience, training, military service, or education – Required.
• 5+ years of experience in risk management, internal controls, auditing, credit management, a relevant line of business, and/or legal or regulatory functions – Required.
• Demonstrated experience supporting and/or leading risk projects across multiple business lines offering a broad range of financial services products and services – Required.
• Knowledge of the financial services sector, particularly competitive dynamics and products in retail banking and risk management.
• Advanced understanding of the regulatory environment and how Second Line of Defense teams and regulators view the risks of the bank’s products and services.
• Ability to build credibility with, collaborate with, and influence line-of-business executives.
• Excellent analytical and complex problem-solving skills.
• Strong project management skills.
• Ability to work constructively 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, schedules, assignments, and service levels.
• Ability to build internal and external networks of information resources within the risk management ecosystem.
• Understanding of BSA/AML and OFAC regulations, regulatory expectations, and industry-leading practices.
• Ability to deliver high-quality documentation with strong attention to detail.
• Applicants must be legally authorized to work in the United States on a full-time basis without requiring employer sponsorship to commence employment.

Nice To Haves

• Master’s degree in a related field or equivalent demonstrated through a combination of work experience, training, military service, or education – Preferred.
• Risk certification - Preferred.
• Established work history or equivalent demonstrated through a combination of work experience, training, military service, or education.

Responsibilities

• Partner with SLoD to provide input on and review frameworks, policies, and standards. Facilitate Business Line awareness of and adherence to risk frameworks, policies, standards, and issue-validation requirements.
• Continuously monitor all sources of risk within the Business Line and the external environment. Engage in research, peer networking, and practical experience to anticipate critical risk issues affecting the Business Line.
• Where applicable, conduct RCSA responsibilities, including process mapping, risk and control matrices, inherent risk assessments, internal control testing, and Heracles data/input.
• Implement and maintain internal control testing and control-effectiveness monitoring within the Business Line. Validate the adequacy of controls, escalate deficiencies as appropriate, and identify root causes of control deficiencies or weaknesses.
• Support implementation of the CPI framework by formally defining and documenting metric details, including metric type, provider, approver, numerator and denominator descriptions, source, scope, thresholds, and Risk Basel category.
• Liaise with the Business Line on exam-related activities, including regulatory examinations, Internal Audit, and Credit Risk Review. Review materials and responses, and validate Business Line remediation work, including artifacts and action plans.
• Support training and guidance for key stakeholders within the Risk Management organization and promote Business Line awareness of risk frameworks, policies, and standards.

Benefits

• A fair and competitive rewards package that reflects the impact you create and the value you deliver.
• Benefits are designed to support you, your family and your well-being, now and into the future.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level