Counterparty Credit Risk - New York, United States - Sumitomo Mitsui Banking Corporation

Description

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.

The anticipated salary range for this role is between $109,000.00and $176, 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.

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.

Role Description

SMBC Capital Markets, Inc. (CM) is a derivatives trading company since 1988 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.

Based on the growth in the CM business, CM is looking to expand Counterparty Credit Risk team by adding a VP to the team to lead strategy and to enhance current CCR framework. CCR team has a strong mandate to overhaul CCR function and build a comprehensive CCR framework in compliance with SR 11-10 guidance. It's a great opportunity for someone who would like to be part of design and implementation of a risk framework, covering all aspects of CCR function.

The risk management department is responsible for market, model, liquidity, credit, foreign exchange, operational and legal risks associated with SMBC-CM Inc's business and manages those risks directly or through each related departments and groups. The department is organized into four functional groups - Credit Risk Group, Market Risk and Analytics Group, Model Risk Group, and the Operational & Regulatory Risk Group. The Credit Risk Group maintains sound credit management activities liaising where necessary with other departments to review and assess credit risk, monitor credit exposure and provide guidance on credit limits in accordance with policies and procedures.Within Credit Risk Group, counterparty credit risk team performs risk exposure analysis/analytics and risk monitoring.

Role Objectives

• Perform and maintain gap analysis of firm's counterparty credit risk framework against SR Interagency guidance on Counterparty Credit Risk)
• Review New Product Committee memos and provide counterparty credit risk comments
• Review and monitor risk appetite statement and key risk indicators
• Drive discussions on any enhancements to risk appetite statement, key risk indicators and formalize approvals
• Drive discussions to track/prioritize/resolve CCR issues (with analytics team, model validation, IT/systems, and other stake holders) to enhance CCR Framework
• Facilitate discussions with stakeholders for enhancing and finalizing stress testing scenarios
• Lead projects and strategic initiatives to continuously enhance CCR Framework to implement Target Operating Model
• Represent CCR team in any firmwide initiatives, participate in UAT and perform any impact analysis; facilitate CCR management approvals
• Facilitate discussion among various stakeholders (Risk Analytics, CCR Analytics, Model validation, Internal Audit, Credit Review and FO stakeholders) for any CCR related items
• Lead discussions and facilitate material for internal (internal audit or credit risk review) or external (Regulatory) exams
• Liaise with various groups within Capital Markets for the quick resolution of credit exposure-related issues
• Maintain CCR policy and procedures
• Undertakes other credit control tasks and projects as required

Qualifications and Skills

• Minimum 5+ years of experience in counterparty credit risk or market risk or other risk related functions
• Master's or Bachelor's degree in fields such as finance, mathematics, engineering, physics, computer science, or statistics
• Solid organizational skills and ability to managing large scale complex initiatives projects
• Good knowledge and understanding of Capital Markets, derivatives products, and derivatives valuation/PFE calculation
• Understanding of xVA calculations such as CVA, DVA, FVA, KVA, MVA, etc.
• Strong IT skills required - Power BI, Excel, Python etc.
• Strong communication skills
• Ability to work in a team environment
• Strong collaboration skills to work with different stakeholders and builds positive relationships to drive mandates for the team and organization
• Self-starter with ability to multi-task and to maintain momentum
• Be very hands-on to use available data for analysis and very diligent to build consensus with different stakeholders to drive decision making
• Ability to solve unstructured problems with a structured approach
• Progress towards CFA and/or FRM certification preferred

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.

SMBC is an EO employer - M/F/Veteran/Disability. 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