Corporate compliance monitoring and testing 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 $80,000.00 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

SMBC's Compliance Department Americas Division ("CPAD") is seeking a Compliance Monitoring and Testing Associate. The Associate-level position is responsible for supporting the monitoring and testing program. This position will principally serve as a team member for the planning and executing of monitoring and testing engagements to validate the efficacy of regulatory compliance internal controls. This role will primarily support the monitoring and testing coverage for New York Branch (SMBC's NYB). The candidate should have functional knowledge of applicable U.S. banking laws and regulations, Additionally, a familiarity of the U.S. regulatory environment, risk identification / mitigation, and managing the workflows for monitoring and testing engagements is essential.

Role Objectives

• Supporting examiner-in-charge of Compliance Monitoring and Testing engagements.
• Assists in the development and refinement of monitoring and testing scripts.
• Assists in the preparation of information requests and Announcement Memorandums.
• Performs assigned field work to validate the efficacy of internal controls.
• Prepares cohesive work papers for each engagement in accordance with department standards.
• Identifies underlying issues and escalation / validation thereof with stakeholders.
• Drafts Issue Memorandums and Reports for issuance to management.
• Assists in the registration and tracking of identified issues and corrective action plans to validate remediation efforts.
• Stays abreast of changing regulatory requirements and SMBC’s business model to maintain a solid foundation of the applicable regulatory framework.
  
  

Qualifications And Skills

• 5-7 years of Banking and Compliance Experience
• CRCM Certification (A Plus)
• Has a Compliance Testing, Bank Regulatory or Internal Audit Background
• Able to work Independently on projects with little oversight
• Able to learn quickly and dissect complicated issues within a large and complex financial institution
• Solid understanding of the US Regulatory Framework
• Strong Communication and Written Skills
• Able to multi-task and perform work functions efficiently and timely
• Motivated and action-oriented
• Adaptable and able to evolve and change with Bank Transformation
  
  

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].