Funds Transfer Pricing Manager - SMBC
Jersey City, NJ 07311
About the Job
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 $180,000.00 and $220,105.00. 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
Coordinate with CUSO Treasury SMEs to lead the development and enhancement of Fund Transfer Pricing (FTP) methodologies and governance. Partner with business SMEs to validate FTP models against unit results and forecasted needs, implement model adjustments and manage FTP allocations across the organizations. Create hedging strategies for exposures outside organizational risk tolerances. Analyze liquidity and investment needs over various scenarios. Prepare position reports, reconciliations and other accounting support. Evaluate foreign currency exposures and strategy and compare budget results to actual to validate outcomes. Coordinate with Head-Office to recommend changes to FTP based on locally observed markets, and implement new guidance locally to promote global consistency.
Role Objectives: Delivery
- Lead the FTP methodologies and governance, and maintain the related policy and standard.
- Validate FTP models against unit results and forecasted needs.
- Suggest and implement model adjustments.
- Analyze liquidity and investment needs over various scenarios taking into account market / economic / industry trends, and client business cycles.
- Prepare position reports, reconciliations and other accounting support.
- Ensure that limits set, underwriting guidelines and pricing are consistent with risk tolerances and optimize capital usage across all business lines.
- Ensure unit results take into account risk-adjusted returns for comparison to FTP model and established hurdle rates.
- Ensure that unit results are consistent with budgeted results and with control thresholds. Manage FTP allocations across the organizations.
- Manage natural hedges between units and create hedging strategies for exposures outside organizational risk tolerances.
- Supervise hedging book and periodically adjust positions.
- Evaluate foreign currency exposures and strategy and compare budget results to actual to validate outcomes.
- Prepare performance reporting against established benchmarks.
- Act as SME and play lead roll in the rollout of local FTP platform by engaging with vendor of requirement setting, overseeing CUSO Treasury partners in new feature buildout, and communicating features and impacts to business partners across entities.
Role Objectives: Interpersonal
- Collaborate with business partners to understand liquidity and financing needs and business strategies.
- Participate in long- and short-term planning and new product development.
- Network within the industry through meetings, events and involvement with trade organizations to explore different funding avenues and vehicles.
- Optimize risk taking through partnerships with risk management.
Role Objectives: Expertise
- Demonstrate a deep understanding of the funding needs, product structures and profitability of the businesses you advise to optimize unit and entity results.
- Exhibit a practical hands-on knowledge of transfer pricing mechanisms and capital allocations to optimize the usage of equity.
- Be proficient with information technology to better gather and manage data.
- Demonstrate advanced analytical / quantitative skills to optimize financial results. Communicate analytical data effectively.
Qualifications and Skills
Recommended Years of Experience: 10+
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.
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 accommodations@smbcgroup.com.