The Role of a Business Validation Senior Associate in Open Banking
As the financial industry continues to evolve, the demand for professionals with specialized skills in emerging sectors is growing. One such sector is Open Banking, where customer-permissioned data sharing, transparency, and compliance are key to delivering value to both customers and business partners. This article will explore the dynamic role of a Business Validation Senior Associate within the Open Banking Strategic Business Unit (SBU) at Chase, a leading financial services firm. Here is the original job description.
The Responsibilities of a Business Validation Senior Associate in Open Banking
The Business Validation Senior Associate plays a pivotal role in validating the effectiveness of the 24/7 operations, technical processes, and business controls within the Open Banking platform. They ensure Chase’s adherence to customer disclosures and oversee client compliance with contractual obligations, including independent reviews and third-party risk management (TPRM).
This role involves supporting the development and implementation of strategic initiatives for the Open Banking team. The associate will collaborate with cross-functional teams, including product, technology, compliance, and risk, to ensure alignment and successful delivery of open banking solutions.
Part of their job is to contribute to the design and execution of processes for secure, customer-permissioned data sharing, ensuring compliance with regulatory requirements and industry best practices. This includes validating the effectiveness and resilience of 24/7 operations and technical processes, monitoring client adherence to contractual obligations, and supporting validation processes for billing execution.
The Business Validation Senior Associate will also be responsible for providing data-driven insights and recommendations to senior leadership, influencing strategic and operational decisions. They will foster a culture of accountability, engagement, and high performance within the business validation team while promoting diversity and inclusion.
Qualifications, Capabilities, and Skills Needed
To successfully navigate this role, the ideal candidate should have at least 5 years of experience in financial services, with a proven track record in business validation, risk management, controls, and operational expertise. A good understanding of Open Banking, data access, and related regulatory and industry frameworks is crucial.
Other necessary skills include exceptional organizational abilities, high attention to detail, strong communication, negotiation, and conflict resolution skills. Experience in client and contract management, including independent review and third-party risk management, is required. Familiarity with Agile methodologies and innovation in financial services would be a plus.
About Chase
Chase is a leading financial services firm, helping nearly half of America’s households and small businesses achieve their financial goals through a broad range of financial products. They offer a competitive total rewards package, comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching, and more. Chase recognizes the value of diversity and inclusion and is an equal opportunity employer.
The Open Banking Team at Chase
The Open Banking team at Chase is committed to delivering market-leading platforms that enable secure access to customer-permissioned data. They collaborate closely with partners across various functions and are developing a self-service developer portal to streamline integration and access. They are proud to lead the U.S. in credit card sales and deposit growth and have the most-used digital solutions, all while ranking first in customer satisfaction.
