Director, Business Control and Risk Management

$157,500 - $220,000/Yr

Santander Bank - Trenton, NJ

Full-time - Senior

Trenton, NJ

Credit Intermediation and Related Activities

About the position

The Director of Business Control and Risk Management at Santander US is responsible for monitoring activities to minimize the company's exposure to risk. This role involves conducting quantitative analysis, identifying risks, and implementing remediation strategies. The Director plays a crucial role in representing and supporting the company's reputation by minimizing compliance and regulatory risks, ensuring that all activities adhere to necessary rules and regulations, and complying with legal and regulatory statutes. The position requires a strong focus on transparency in business results, finance, and processes, typically organizing a reporting system to track goal accomplishments, collect and process data, and provide necessary management information to the company's leaders. In this role, the Director will drive a risk culture within the business line, ensuring awareness of risk frameworks, policies, and standards. They will act as the central point of contact for risk-related information between the Second Line of Defense (SLoD) risk teams and business lines, facilitating training to enhance awareness of risk frameworks and policies. The Director will partner with SLoD to review and provide input on risk frameworks and standards, ensuring adherence through internal control testing and issue validation. Continuous monitoring of all sources of risk, both internal and external, is essential, as is the ability to anticipate critical risk issues impacting the business line. The Director will also be responsible for conducting Risk and Control Self-Assessments (RCSAs), engaging with business line process owners to identify and assess risks, and ensuring timely resolution of all issues related to the business line. They will implement and maintain internal control testing and monitor control effectiveness, identifying root causes of deficiencies and ensuring remediation. Additionally, the Director will liaise with the business line for all exam-related activities, including regulatory and internal audits, reviewing materials and validating remediation efforts.

Responsibilities

• Monitor activities to minimize the company's exposure to risk.
• Conduct quantitative analysis, risk identification, and remediation.
• Ensure compliance with legal and regulatory statutes and jurisdictions.
• Organize a reporting system to track goal accomplishments and provide management data.
• Drive risk culture and ensure awareness of risk frameworks, policies, and standards.
• Act as a central point of contact for risk-related information between SLoD risk teams and Business Lines.
• Facilitate training for Business Lines on risk frameworks and policies.
• Partner with SLoD to review and provide input on risk frameworks and standards.
• Continuously monitor all sources of risk within the Business Line and externally.
• Conduct RCSA responsibilities including Process Mapping and Risk & Control Matrices.
• Engage with Business Line process owners to identify and assess risks.
• Implement and maintain internal control testing and control effectiveness monitoring.
• Liaise with the Business Line for all exam-related activities, including regulatory and internal audits.

Requirements

• Bachelor's Degree in Accounting, Business, Statistics, Risk Management, Information Systems, Finance, Economics or equivalent field.
• Master's Degree in Accounting, Business, Statistics, Risk Management, Information Systems, Finance, Economics or equivalent field (preferred).
• 12+ years of experience in Risk Management, Operations, or Controls (required).
• 7+ years of experience managing product or service delivery to Financial Services customers (preferred).
• Demonstrated experience delivering risk execution across multiple business lines.
• Deep knowledge of the financial services sector, particularly in retail banking and risk management.
• Advanced understanding of the regulatory environment and risk assessment.
• Ability to build credibility and influence line of business executives.
• Ability to develop a mentoring culture with team members.

Nice-to-haves

• Experience in Change & Process Management Consulting (preferred).

Benefits

• Competitive salary range of $157,500 - $220,000 per year.
• Opportunities for professional development and training.
• Comprehensive health insurance coverage.
• 401(k) retirement savings plan with company matching contributions.
• Paid time off and holidays.
• Flexible working arrangements.