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    Market risk director - California, United States - Sumitomo Mitsui Banking Corp

    Sumitomo Mitsui Banking Corp
    Sumitomo Mitsui Banking Corp California, United States

    4 hours ago

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    Description
    Full job 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.

    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 $188,000.00 and $220, 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

    CM is seeking a Vice President within its Risk Management Department. The role will report into the Team Lead of Strategic Initiatives in Market Risk.

    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.


    Role Objectives:
    Delivery


    Assist Team Lead to implement risk management framework and environment that has sufficient stature, authority, access, and resources to reflect leading industry practices that meet both business and regulatory requirements for the appropriate risk structure.

    Ensure an objective, critical assessment of risks and define and develop key risk categories and risk identification in full compliance with relevant regulations.

    Assist in the development of frameworks, policies, processes, and procedures designed to ensure risk identification, aggregation, mitigation, and monitoring capabilities in compliance with the sound operation of both business and regulatory requirements.

    Oversight of Ongoing Risk Management Activities

    Maintain an effective independent risk management function that properly controls the legal entities' risks, meets US, Japanese and other relevant country regulatory risk requirements, and head office requirements.

    Analyze new products and business lines, evaluate the costs, benefits, and risks of each new product offered, and make specific recommendations thereto.

    Assist in overseeing the provision of risk services to the legal entity by risk specialists, ensure services delivered are consistent with requirements and, where needed, escalate issues, and suggest changes to service requirements in KRIs to ensure appropriate service.


    Role Objectives:
    Interpersonal

    In-depth knowledge of market risk, credit risk, liquidity risk, operational risk, and other risks.
    In-depth knowledge of U.S. and international banking laws and regulatory requirements and best practices (specifically risk management frameworks and regulatory requirements such as FRTB, Basel Market Risk Rule, IRBB, Basel SA-CCR, Dodd Frank Act, CFTC Rule 23.600, the Volcker Rule, and Swap Dealer registration requirements, SR 11-07, SR 11-10, etc.)
    Strong knowledge of derivatives and their key risks, particularly interest rate and FX products and an expert understanding of relevant risk and related valuation concepts (e.g. VaR and stress-testing standards, counterparty exposure estimation, liquidity estimation, model assessment and validation, documentation, and reporting approaches).
    Familiarity with risk management frameworks for various valuation risk adjustments in derivatives (e.g. CVA, DVA, FVA, CTDVA, KVA and IM).
    Experience dealing with the regulators such as FRB, NY DFS, CFTC, NFA and FINRA.
    Understands the broader picture of how subsidiaries fit into SMBCAH /CUSO and the regulatory requirements facing various entities.

    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.
    Strong reasoning ability; understands complex situations, people and systems needs against backdrop of managing a risk management environment.
    Strong analytical skills; great attention to detail.
    Strong project management skills; ability to work independently

    Role Objectives:
    Expertise

    40%: Knowledge of risk management governance framework (e.g. corporate governance, entity governance, regulatory requirements)
    30% Excellent written and verbal communication skills and ability to translate these skills to capture content rich issues and drive complex initiatives; masterful in PowerPoint at distilling, rendering and visualizing complex issues in an accessible manner for executive, senior and technical audiences
    20% Able to work well across functions, ascertain and capture multiple points of view; render information so that it is actionable, and prompt follow up,
    10% : Experience in the regulatory environment applicable to in the US and Japan
    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
    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

    #J-18808-Ljbffr


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