Third-Party Risk Management Associate

Company: Santander Holdings USA Inc
Location: East Providence
Posted on: November 21, 2020

Job Description:

Job Description Third-Party Risk Management Associate - 2003896 Description The Third-Party Risk Management Associate, represents the First Line of Defense and is responsible for partnering with Internal Controls to ensure strong internal controls capabilities and remediation of the internal control environment for the represented business line and/or functional area. The Associate works to identify, assess and action various risks throughout the assigned business line by executing defined risk programs. Specifically, within I.T. Third Party Management the Associate partners with Vendor Management offices to capture evidence of vendor oversight from service managers. This evidence includes artifacts such as insurance documents, subcontractors and service locations. The associate will also perform Quality Assurance (QA) of key service manager activities such as Service Level Agreement Monitoring and the preparation of Exit Plans. The associate will meet with business partners on a monthly basis to provide feedback and ensure QA is targeted to most relevant components of the vendor risk agenda. Responsibilities: * Analyzes documentation for evidence of successful and efficient performance * Applies developing knowledge and supports the design, assessment, and/or administration of quality assurance programs, practices and policies * Assists in the collection and initial analysis of data, preparation of business owner control surveys * Conducts quality audits on all routine and complex transactions and correspondence to ensure proper processing according to established quality standards * Develops training on policies and procedures concerning controls and risk management * Independently conduct internal control testing including on-site observations, interviews with management and staff, analytical procedures and statistical/judgmental analysis and testing of data * Interprets regulations affecting control standards with large degree of independence and suggests methods of updating policies and practices to address any risk concerns * Leads operating process and internal control improvement initiatives * Manages complex projects that involve working with businesses to improve controls to mitigate any deficiencies * Partners with Internal Audit, Compliance, and/or Operations Management to share information and escalate issues as needed * Provides thematic analysis of issues for business to identify emerging trends * Reports audit results and determines corrective action plans, as necessary * Reviews current policies and procedures to identify process gaps and opportunities for improvement * Reviews, monitors and tests internal controls and procedures associated with products, services, customers and operations * Through walkthroughs and testing, identifies possible internal control breakdowns and gaps and report them to management * Works with the business to understand the controls currently in place to minimize risk Qualifications * Bachelor's Degree; Accounting, Business, Statistics, Risk Management, Information Systems, Finance, Economics or equivalent field or equivalent work experience * 5-9 years; Risk Management, Internal Controls, Auditing, Credit Management, relevant line of business experience and/or legal or regulatory experience * Ability to build credibility with, collaborate with, and influence line of business executives * Ability to build internal and external networks of information resources within the risk management ecosystem * Ability to collaborate with internal and external service providers to establish resource requirements, scheduling, assignments and service levels * Ability to constructively work both independently and in collaborative environments involving all levels of management and employees * Advanced 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 * Demonstrated experience supporting and/or leading risk projects across multiple business lines offering a wide variety of financial services products and services * Excellent analytical and complex problem-solving skills * Knowledge of the financial services sector, particularly with the competitive dynamics and products in retail banking and risk management * Strong project management skills * Understanding of BSA/AML and OFAC regulations, regulatory expectations and industry leading practices Competencies: * Communicates in a timely and straightforward manner * Probes for additional information, clarifies assumptions and confirms agreed-upon actions * Keeps everyone involved informed about progress and issues * Communicates the importance and benefits of risk management to counterparts * Displays natural skepticism and curiosity to question the status quo and uncover issues * Adheres to a good root cause analysis process * Creates a good working environment in the team; works towards shared goals contributing ideas and accepting ch

Keywords: Santander Holdings USA Inc, East Providence , Third-Party Risk Management Associate, Other , East Providence, Rhode Island