The Sr. Director, Business Control & Risk Management operates within the first line of defense and is accountable to lead Business Control & Risk Management team(s) in the effective oversight and governance of line of business execution against the Enterprise Risk Management Framework. S/He is responsible for liasing with senior/executive management and/or board on the overall effectiveness of the Line of Business(es) control environment, will also ensures the Business Control & Risk Management team(s) effectively execute business line risk assessments and proactively identify emerging and material risks that may change the line of business(es) risk profile. The individual has direct oversight for the effectiveness and on-time closure of line of business action plans and ensures that as risk appetite changes applicable controls and metrics within each business remain adequate.
Establishes expectations, ownership and accountability for risk management within the Business Line.
Provide risk expertise and control function feedback, as applicable, during performance review cycles and incentive plans of employees in the Business Line.
Ensure awareness in the Business Line of risk frameworks, policies and standards.
Act as central point of contact for receipt and distribution of risk related information between SLoD risk teams and Business Lines.
Facilitate training for Business Lines to provide awareness of risk frameworks, policies, programs, processes, etc
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 through internal control testing and issue validation.
Report and escalate exceptions and facilitate Business Line corrective actions
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.
Validate the adequacy of controls, escalate deficiencies as appropriate.
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.
Implement and maintain internal control testing and control effectiveness monitoring in the Business Line.
Identify root causes of control deficiencies/weaknesses and take appropriate action to ensure Business Lines remediate and prevent recurrence.
Education: Bachelor's Degree or equivalent work experience in Accounting, Business, Statistics, Risk Management, Information Systems, Finance, Economics or equivalent field or, Master's Degree Accounting, Business, Statistics, Risk Management, Information Systems, Finance, Economics or equivalent field.
Work Experience: 12-15 years Risk Management, Controls, or related experience. Leadership experience within the Financial Services industry. Change & Process Management and/or Consulting. Previous management experience.
Experience with delivering risk management execution across multiple business lines offering a wide variety of financial services products and services.
Deep knowledge of the financial services sector, particularly with the competitive dynamics and products in retail banking and risk management.
Developed understanding and demonstrated application of operational risk identification and mitigation practices and procedures.
Developed 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.
Ability to build credibility with, collaborate with, and influence line of business executives.
Able to effectively engage in communication with executive management, board members, regulators and other team members across the Santander US and Corporate Risk Management (DGR) organization
Ability to collaborate with internal and external service providers to establish resource requirements, scheduling, assignments and service levels.
Ability to anticipate the impact of regulatory and other environmental factors and proactively take action to ensure the team/function/enterprise is prepared.
Ability to develop a mentoring culture with both senior experienced team members and junior staff.
Ability to build, present and negotiate a position based on metrics and facts.
Ability to build internal and external networks of information resources within the risk management ecosystem.
Improves relationships between key individuals to achieve seamless cross-team work flow and positively impact results
Brings out the best in each team member by consistently motivating and acknowledging peer contributions
Fully accountable for timeliness, completeness, quality of projects, processes, products and services
Remains calm and focused on goals while facing pressures, obstacles or short-term setbacks
Ensures people receive the information they require, and brings the team together to share information
Effectively conveys difficult or complex information in an easy to understand manner, by providing the big picture and illustrating important linkages Asks open-ended questions that encourage others to give their points of view
Keeps up -to-date with external market events, pressures and regulations which may impact the organization and assesses whether similar issues exist in the organization Can identify functional and organizational implications associated with major trends Designs solutions to address industry activities that impact the organization
Monitors adherence to policies, regulations, processes and procedures within function and actively undertakes corrective action where necessary
Understands end to end processes across the organization and how processes are integrated
Ensures that all directs and colleagues have appropriate knowledge of risk and the regulatory environment
Investigates and identifies the root cause and corrects items deemed non-compliant, regardless of pressures from business or management
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