Executive Director, Credit Risk - Commercial Real Estate 2nd Line of Defense at Santander Holdings USA Inc

Santander is a global leader and innovator in the financial services industry and is evolving from a high-impact brand into a technology-driven organization. Our people are at the heart of this journey and together, we are driving a customer-centric transformation that values bold thinking, innovation, and the courage to challenge what's possible. This is more than a strategic shift. It's a chance for driven professionals to grow, learn, and make a real difference.

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The Difference You Make:

The Executive Director, Credit Risk (2nd Line of Defense) - Commercial Real Estate (CRE) is responsible for providing independent, credible, and effective challenge over U.S. Commercial Real Estate credit risk across both the Banking Book and Trading Book, consistent with supervisory expectations for risk governance, risk appetite adherence, and independent oversight.

The role ensures that CRE credit risks are identified, measured, monitored, controlled, and escalated in line with the firm's risk appetite, internal credit policies, and applicable U.S. regulatory requirements. The position partners closely with the 1st Line of Defense and Front Office, while maintaining clear independence, and serves as a key point of accountability for exam readiness, issue remediation, and portfolio transparency.

The role requires experience with Credit, Warehouse, and Acquisition facilities supporting Real Estate investment funds. This role requires a seasoned, regulator-credible CRE risk executive with deep U.S. market expertise, sound judgment under stress, and the stature to represent the firm confidently in front of senior management and supervisors.

Independent Risk Oversight & Effective Challenge

• Provide independent review, approval, and challenge of all U.S. CRE credit exposures, including new transactions, amendments, renewals, and restructurings.
• Ensure underwriting decisions reflect conservative downside analysis, credible stress scenarios, and compliance with established credit standards.
• Escalate material risks, policy breaches, and emerging vulnerabilities to senior management and risk governance forums in a timely manner.

Risk Appetite, Portfolio Governance & Monitoring

• Oversee adherence to the firm's CRE risk appetite, including limits on concentrations, leverage, asset classes, sponsors, and markets.
• Conduct and oversee ongoing portfolio monitoring, including risk migration, stress sensitivity, and early warning indicators.
• Ensure Banking Book and Trading Book CRE exposures are consistently risk-assessed and aligned with applicable regulatory frameworks.

Credit Policy, Standards & Controls

• Participate in the development, maintenance, and enhancement of CRE credit policies, underwriting standards, and procedures, ensuring alignment with regulatory guidance and supervisory expectations.
• Oversee the design and effectiveness of internal controls, including testing, issue tracking, and remediation.
• Ensure consistent application of credit standards across businesses, products, and U.S. markets.

Regulatory Engagement & Exam Readiness

• Serve as a senior risk representative in regulatory examinations, internal audits, and supervisory reviews related to CRE credit risk.
• Ensure timely remediation of regulatory findings, audit issues, and risk events.
• Maintain clear documentation, governance artifacts, and defensible decision-making processes consistent with supervisory scrutiny.

Risk Reporting & Management Information

• Produce and oversee clear, accurate, and decision-useful risk reporting for senior management, risk committees, and regulators.
• Ensure reporting captures portfolio trends, stress outcomes, concentrations, and emerging risks across Banking and Trading Books.

Leadership & Risk Culture

• Function as a subject matter expert on U.S. CRE credit risk and regulatory expectations.
• Promote a strong risk culture, reinforcing accountability, transparency, and independent challenge.
• Provide leadership, guidance, and mentorship to credit risk professionals within the CRE risk organization.

What You Bring:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• At least 10 years within Risk Management, Credit Risk, Capital Markets, or Commercial Real Estate Underwriting.
• Extensive experience in U.S. Commercial Real Estate credit underwriting and risk management, within a large regulated financial institution.
• Demonstrated senior experience in a 2nd Line of Defense, independent credit risk, or regulatory-facing role.
• Strong understanding of Banking Book and Trading Book credit risk frameworks, including stress testing, capital considerations, and valuation risk.
• Proven expertise in CRE capital markets, including securitization, warehouse/repo lending, and fund-level facilities.
• Track record of effective regulatory interaction, issue management, and exam readiness.
• Ability to challenge senior stakeholders constructively and escalate risk concerns with authority.

Certifications:

• No Certifications listed for this job.

It Would Be Nice For You To Have:

• Established work history or equivalent demonstrated through a combination of work experience, training, military service, or education.
• Experience in Microsoft Office products.

What Else You Need To Know:

The base pay range for this position is posted below and represents the annualized salary range. For hourly positions (non-exempt), the annual range is based on a 40-hour work week. The exact compensation may vary based on skills, experience, training, licensure and certifications and location.

Base Pay Range:

Minimum:

Maximum:

We Value Your Impact:

Your contribution matters and it's recognized. You can expect a fair and competitive rewards package that reflects the impact you create and the value you deliver. We know rewards go beyond numbers. Offering more than just a paycheck our benefits are designed to support you, your family and your well-being, now and into the future. Santander Benefits - 2026 Santander OnGoing/NH eGuide ()

Risk Culture:

We embrace a strong risk culture and all of our professionals at all levels are expected to take a proactive and responsible approach toward risk management.

EEO Statement:

At Santander, we value and respect differences in our workforce. We actively encourage everyone to apply. 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.

Working Conditions:

Frequent minimal physical effort such as sitting, standing and walking is required for this role. Depending on location, occasional moving and lifting light equipment and/or furniture may be required.

Employer Rights:

This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate your employment at any time for any reason.

What To Do Next :

If this sounds like a role you are interested in, then please apply.

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