SMBC Jobs

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.

In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.

The anticipated salary range for this role is between $122,000.00 and $170,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

Role Description

The Regulatory Reporting Governance Vice President) role is critical in ensuring the compliance with regulatory standards, maintaining data integrity, data accuracy and completeness for regulatory reports filed by SMBC. The VP will stay updated on evolving regulatory requirements pertaining to these reports, manage a strategic control testing program, and continuously enhance control testing methodologies and procedures, to optimize testing efficiency and effectiveness during the report production process.

Reporting to the Director, Regulatory Reporting Controller, of PDAD FAD Controllers, the VP is responsible for ensuring a sound Controls testing function under a strong internal control framework. This position also has close interactions with other finance, risk, data governance and IT leaderships in the bank.

The position is expected to assist in managing and directing all regulatory reporting controls testing processes and internal control activities linked to adherence of the bank wide controls framework.

Responsbilities

• Independent controls validation Lead, specializing in Regulatory reports process and controls around the regulatory reports.

• Responsible for development of annual validation plan, overseeing validations from transaction capture through regulatory reporting processes and assessing the internal control environment to focus on reporting accuracy and completeness, including the integrity of the underlying data.

• Provide expert guidance on testing of processes and controls across the end-to-end lifecycle around regulatory report production; Provide guidance on reviewing the regulatory reporting data infrastructure including the end-to-end data process flow with lineage for critical data elements (CDEs), integrity of source systems data, and metadata repositories (including data dictionaries)

• Lead efforts for process/system enhancement initiatives required to meet internal audit and/or regulatory expectations; Identify and analyze issues for risk impact and facilitate the drafting of resolution recommendations within various functions to remediate risks

• Utilize comprehensive understanding of specific processes (global and regional) and regulatory requirements to identify opportunities and streamline control validation exercises, including using different technologies (e.g., UIPath, Alteryx, PowerBI)

Responsibilities

• Manage key relationships across the Finance organization, Internal Audit, and other divisions (incl. Risk and Data Management) with key constituency groups.

• Support Firm responses to regulatory (e.g., FRB, DFS etc.) queries where applicable to role, subject matter expertise.

• Prepare and present clear and concise reports on testing results to senior management.

• Lead the team on continuous monitoring, adjust testing plan/testing procedures as needed, potentially involved with pre-axiom implementation testing.

• Interact with various business areas, understand processes/workflows at various stages, identify potential enhancements to the regulatory reporting process

• Assist team lead to perform regular assessments of various regulatory reports including testing of key business controls and assess whether controls are designed and operating effectively; End to end transaction testing

• Follow the instructions of team lead to perform mapping and classification review to assess proper report classification, in adherence with Fed report instructions

• Maintain issue log, monitor the remediation efforts by the production team

• Review the cross-report quality control process

Qualifications and Skills

• Strong knowledge of BHC (e.g. FRY 9C and FFIEC009/009a reports), FRY 15 and broker dealer regulatory reporting requirements and report preparation

• Experience with Risk and Control Analysis (RCSA)

• Minimum of 7 - 10 years knowledge and experience in the preparation of regulatory reports of financial institutions

• Strong knowledge on financial products such derivatives, repo, securities, loans and leases

• Excellent verbal and written communication skills

• Knowledge of internal control frameworks

• Excellent interpersonal skills

• Good analytical skills

Additional Requirements

D&I Commitment

Responsible for fostering a culture of diversity and inclusion, holding leaders accountable for creating an inclusive environment through awareness and practice of equity in recruiting, developing, and promoting diverse talent.

SMBC’s employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.

We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.