Job Information
SMBC Vice President, Enterprise Risk Management in Toronto, Ontario
Purpose of Position
The Vice President, Enterprise Risk Management (ERM) will be responsible for working with the Executive Director, ERM in the independent identification, measurement, assessment, and monitoring and reporting of all significant risks to the organization.
This position will be responsible for the production of various ERM reports as assigned.
This position will also be responsible for adoption, implementation and maintenance of various Risk Management Policies, Guidelines, Procedures and associated Risk Appetite Metrics and Thresholds.
Key Accountabilities
Risk Policy & Governance
Ensure that organization’s risk management policies and strategies are in compliance with applicable regulations, rating agency standards, and strategic imperatives of the organization; and aligns with Head Office (including Americas Division) enterprise risk and compliance management framework and relevant risk management policies adopted by ERM Department
Prepare and review all ERM policies, standards, guidance and procedures from Head Office including Americas Division (AD), for adoption and implementation by Canada Branch
Adoption of in-scope SMBC-AD and Tokyo HO Enterprise wide Risk Management Policies, Frameworks, Standards and Guidelines
Develop implementation plan for newly adopted/established Policies owned by ERM Department
Proactively monitor the external environment (i.e. real estate markets, interest rates, capital markets, inflation, GDP etc.) and the Bank’s risk exposure for adverse impacts to risk policies / procedures and recommend changes as appropriate
Review and provide recommendations for changes to internal limits, risk tolerance, and key risk indicators.
Annual review and update of ERM-owned Policies, frameworks, procedures and desktop manuals
Risk Identification, Measurement, Assessment, Monitoring and Reporting:
Develops Enterprise Risk Management tools, practices, and policies to analyze and report enterprise risks, and to manage risks according to an enterprise risk management framework. Monitors and analyzes risk with the company’s business units and reports on these risk to the management.
Establishing, Monitoring and Reporting of Risk Appetite Metrics
Preparation of materials for the monthly ALM and ERM committee meetings
Analyze and assist in liquidity stress testing and market risk stress testing
Assist in the development and execution of ERM stress testing and scenario analysis
Keeps abreast of developing global financial and economic trends and emerging risks relating reputational risk and operational risk that may impact the Bank
Establishing and ongoing management of the Risk Identification – Top & Emerging Risk / Scenario Development / Playbooks / Black Swan event
Corporate Strategy, Risk Appetite and Planning
Contribute to the review/update of enterprise risk management strategy and action plan
Contributes to the periodic reviews of the Canada Branch’s strategy, operating models and operations, the risk appetite framework and ERM framework
Other ERM Duties
Assist the ED Enterprise Risk in liasion with local regulators
Co-ordination with regional risk teams on new and ongoing initiatives
Assist ERMD with the implementation of AD project / initiative
Other duties as assigned by the ED Enterprise Risk or other team members.
Qualifications and Skills
Knowledge: Post-secondary education in finance, accounting, mathematics, or business discipline. Working towards a professional designation such as FRM, CPA, CIA or CFA would be an asset.
Experience: 5-8 years’ experience in commercial banking, advisory - risk management, other financial services or professional services, as a risk manager / senior manager.
Skills: Practical knowledge of leading industry practices related to risk management in financial institutions including credit, market, operational and other key risks
Sound, practical knowledge of credit risk and portfolio management strategies; foreign exchange trading, derivative products and money markets, and stress testing
Knowledge and understanding of applicable regulatory requirements, expectations and business impacts
Ability to work independently and meet deadlines
Result-oriented and attention to details including excellent command of written and spoken English.
Computer Skills: Microsoft Office including good Excel skills. Have knowledge of, or willingness to learn the SMBC GIS systems (e.g., FOX, OBS, Oracle GL, and Cognos reporting) and FINCAD application.
About SMBC
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 Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.
SMBC is an EO employer – M/F/Veteran/Disability