Operational Risk 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.
The anticipated salary range for this role is between $85,000.
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.
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 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.
The Operational & Regulatory Risk Management Associate reports to the Head of the Operational and Regulatory Risk Management Group within the Risk Management Department (RMD) of CM Inc.
The role's primary function is to execute an Operational Risk Governance framework across the firm and also to ensure the firm's compliance with regulatory requirements.
This entails reporting operational risk events and overseeing their remediation, assisting in maintaining the firm's Risk Management Program and updating the Head of Risk and Senior Management on New Product Committee proposals.
Role Objectives Executes the operational risk governance framework and RCSA program at the direction of the Group Head.
Reports operational and regulatory risk related matters to the Head of the Operational and Regulatory Risk Group within the RMD.
Produces Operational Risk Event reports as necessary, liaising with relevant departments.
Reports weekly updates on outstanding operational risk events and tracks remediation items.
Assists in managing the firm's Risk Management Program as required per CFTC Rule 23.
600.
Periodically analyzes the firm's Risk Tolerance Limits and Risk Appetite Framework and works with relevant departments to propose updates if needed, and secure approvals from the Global Risk Management Committee (GRMC).
Works with Group Head in planning for upcoming regulatory requirements, e.
g.
FRTB, CFTC Capital Rule, etc.
Assists Group Head in coordinating the New Product Committee (NPC) process for the Head of Risk Management.
Reports updates and outstanding issues related to the NPC.
Reports official meeting minutes for GRMC and NPC.
Monitors the firm's compliance with the Volcker Rule and produces monthly analysis.
Produces daily risk analytic reports at the direction of the Market Risk and Analytics Group Head.
Qualifications and Skills 3-6 years of relevant Finance experience, with strong knowledge of derivatives and their key risks, particularly interest rates 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.
Excellent communication skills, leadership and relationship-building skills to work with internal departments, affiliates, Head Office and regulatory bodies.
Strong reasoning ability; understands complex situations, people and system needs against backdrop of managing a risk management environment.
Strong analytical skills; great attention to detail.
Strong project management skills; ability to work independently.
Ability to implement new risk controls and processes including technology infrastructure in support of risk management framework.
Expert communication and presentation skills.
Expert ability to work collaboratively with internal risk management colleagues across multiple risk stripes, Front Office, and Middle & Back Office personnel across all subsidiaries and globally.
Additional Requirements 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 accommodations@smbcgroup.
com.