Market Risk Governance Specialist

Market Risk Governance Specialist Location Hybrid remote in New York, NY :

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.

The anticipated salary range for this role is between $142,000.00 and $176,000.00. 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 AD is transforming its market risk coverage into a more integrated and centralized function across its Combined US Operations (CUSO).

Specifically, the Market Risk Groups within SMBC Capital Markets, Inc. (CM) will cover market risk related matters across CUSO. CM is a derivatives trading company which was started in 1988 and is based in New York City, with offices in London and Hong Kong. SMBC CM is an established derivatives dealer with a broad product portfolio, with specific emphasis on interest rates and foreign exchange products such as interest & FX swaps, FRAs, options, exotic products, commodity derivatives as well as exchange traded products such as treasury bonds, interest rate futures & options, currency futures, treasury futures & options, etc

Therefore, CM is seeking a Vice President within its Risk Management Department. The role will report into the Team Lead of the Risk Governance team.

Coverage area for the role will be across all of SMBC CUSO. As the role is centralized into SMBC, the firm's goal is to operationalize a more efficient risk organization in US.

The role is expected to collaborate with various teams in the Front Office, Systems & Technology partners, Finance and Accounting partners, as well as leverage resources in the RMDAD to cover market risk across banking book, derivatives, and securities products. Therefore, it is essential the candidate a team player with great communication skills.

Role Objectives: Delivery

• Maintains the entity level Risk Governance under CFTC/NFA and FINRA Regulations. Additionally maintains market risk governance framework across CUSO under FRB regulations.
• Monitors the firms compliance with the Volcker Rule and produces monthly analysis.
• Assists Group Head in coordinating the New Product Committee process for the Head of Risk Management.
• Reports updates and outstanding issues related to the NPC.
• Periodically analyzes the firms Risk Tolerance Limits and Risk Appetite Framework and works with relevant departments to propose updates if needed, and secure approvals from Risk Committees.

Role Objectives: Interpersonal

Work closely with units such as treasury and client-facing functions to better understand the risks in their businesses and the instruments they handle. Improve modeling techniques and risk framework and understand emerging issues through partnerships with consulting firms and other financial institutions. Establish relationships with rating agencies to help improve modeling and understand emerging trends. Improve workflows and data gathering / sharing through collaborations with units such as finance, compliance, legal and IT. Work cooperatively with industry specialists, country risk managers, credit review / analysis staff and relationship managers to determine and evaluate potential risks and efficacies of policies and procedures. Support long- and short-term planning, new product development, ALM and risk management meetings. Network within the industry through meetings, events and involvement with trade organizations to better understand emerging risk trends. Establish relationships with auditors and regulators to better understand their concerns and reduce potential compliance issues.

Role Objectives: Expertise

Knowledge

• Strong knowledge of derivatives and their key risks, particularly interest rate and FX products
• Familiarity with relevant risk concepts and related valuation concepts (e.g. VaR and stress-testing standards, counterparty exposure estimation, liquidity estimation, model assessment and validation, documentation and reporting approaches)
• In-depth knowledge of U.S. , non-U.S. and international banking laws and specifically Risk Management frameworks and regulatory requirements.
• Expert knowledge of the Dodd Frank Act, CFTC Rule 23.600, the Volcker Rule, and Swap Dealer registration requirements.

Communication and Leadership

• Excellent communication skills, leadership and relationship-building skills to work with internal departments, affiliates, Head Office and regulatory bodies.
• Expert ability to work collaboratively with internal risk management colleagues and risk management leaders across all subsidiaries and globally.

Qualifications and Skills

Preferred Previous Work Experience:

• Work Experience: 5+ years of experience in risk governance or closely risk-related role.
• Language Skills: Business fluency in English (Japanese is preferred)
• Software Systems / Programming Languages: Working knowledge of VBA, and Microsoft Office Suite

Preferred Education/Licenses/Certifications/Registrations:

• Education: Required - BA / BS

Other Skills, Abilities and/or Training:

• Ability to manage multiple responsibilities at once by focusing on one task while keeping track of others.
• Ability to understand, communicate with, and effectively interact with people across cultures, especially with Expats coming from Japan

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.

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 [email protected].