Settlements

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 $78,000.00 and $125,000.00. 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 Associate of SMBC Capital Markets Settlements will be a member of Derivative Operations, supporting the daily settlements processes for SMBC Capital Markets derivative trading business, as well as providing support for the derivative business conducted by group companies in New York, London, and Hong Kong. This role will closely partner with Front Office, Back Office, and IT to deliver on the business objectives.

Derivative Operations handles operations for Capital Markets and is comprised of 5 key functions: Sales Middle Office, Confirmations, Settlements, Margin and Client Service Operations. Settlements actively manages pre- and post-settlement processes and daily financial risks. In addition to the settlement process, the function is focused on remaining current with industry standards and regulations. The team continues to evolve in its risk-mitigation framework and technology agenda.

This position will primarily be located in our White Plains, NY, office.

Role Objectives

• Ensuring timely and accurate settlement of Derivative, FX, and securities settlements.
• Pre-settlement payment affirmation and post-settlement investigations inclusive of compensation claims processing.
• Investigations of failed settlements from detection to resolution.
• Mitigation of operational risk and timely escalation.
• Understand and ensure compliance with relevant regulatory requirements.
• Proficiency using various industry-standard settlement platforms as well as the firm’s proprietary systems.
• Identify opportunities for business process improvements and implement changes to enhance efficiency, scale and accuracy.
• Contribute to and test projects related to system enhancements and new industry initiatives and products.
• Ensure compliance with internal policies and procedures.
• Preparation of metrics and other KRI reports to create transparency.
• Business Continuity testing.

Qualifications and Skills

• 5-10+ years of experience in financial services.
• 3+ years of experience working in Settlement capacity.
• Acute attention to detail.
• Understanding of Derivatives and FX.
• Working knowledge of SWIFT.
• BA/BS required.
• Effective time management skills and ability to manage priorities with accuracy.
• Forward thinker who seeks to improve business processes that deliver better services and controls.
• Degree in Finance, Accounting or related discipline is preferred.

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].