Vendor Risk - Associate

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 $85,000.00 and $131,000.00. 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 Third-Party Management Operations Associate will be joining our Third Party Management Operations team, which sits within the Procurement organization, to work with business units throughout the SMBC America’s Division to identify and manage the risks facing the organization through its use of third-party service providers. In this role, you will work with a team supporting business units within SMBC and our vendors in the performance of risk management activities as defined by the Third-Party Risk Management (TPRM) framework and lifecycle. The ideal candidate is a highly motivated individual, with strong project management, communication and relationship-building skills as well as a demonstrated record of ongoing accomplishments and commitment to excellence.

Role Objectives

• Ensures that all Third-Party Risk Management (TPRM) Policies & Procedures are adhered to in the execution of the program throughout the full TPRM Lifecycle.
• Compliance with applicable rules and guidance impacting the TPRM program including OCC, FBR, FDIC, SEC, FFIEC, FINRA; in addition to other U.S. regulators (e.g., NY Department of Financial Services), and foreign-based regulators (e.g., Japan’s Financial Services Agency, Canada’s Superintendent of Financial Institutions, and those in Latin American).
• Interface with second line of defense review and challenge and Internal Audit.
• Primary TPRM support partner for Subject Matter Experts (SMEs), Third Party Business Representatives (TPBR’s), and the head of Third Party Management Operations team.
• Support Strategic Planning execution for the TPMO team.
• Responsible for addressing, documenting and escalating Trigger Events for their assigned Engagements.
• Support preparation of TPRM portfolio and third-party performance for Risk and Management Committees.
• Provides project management expertise in supporting TPMO Policy, procedures, program design and System enhancements.
• Execute activities to support TPRM metrics & reporting; providing insight into third party activity and performance for business unit executives and management committees.
• Responsible for coordinating team efforts ensuring that the phases of the Third-Party Lifecycle are completed within given SLA’s.
• Consults with the relevant Subject Matter Experts and acts as single point-of-contact for Third Party’s completion of risk-driven questions and/or documentation requests.
• Responsible for ensuring issues and risks are appropriately remediated or escalation protocols are followed.
• Responsible for the Termination phase of the TPRM Lifecycle.
• Responsible for completing and providing support for risk assessments for engagements under the Third-Party Portfolio.
• Responsible for information sharing about the Third Party and the businesses Third party portfolio as necessary.

Qualifications and Skills

• Bachelor’s degree.
• 5+ years Third Party Management experience.
• Previous working experience in Financial Services
• Strong knowledge of Third Party Risk Management Programs and frameworks including (but not limited to): RCSA, KPI/KRI development and reporting, and Issues Management.
• Significant experience managing complex and dynamic Third-Party relationships.
• Knowledge of regulatory bodies governing financial services and in providing guidance for adherence and monitoring the financial services industry.
• Strong analytical mindset, able to manage risks both at the micro and macro levels.
• Ability to identify issues and work them to closure, including remediation and escalation where appropriate.
• Strong communication skills and ability to create effective level appropriate executive presentations.
• Strong Project Management skills
• Discretion and diplomacy when dealing with sensitive issues.
• Desire and talent for building and maintaining relationships.
• A commitment to protect the bank from all risk exposure.
• Experience working across a diverse set of stakeholders with positive results.

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.

SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at [email protected].