Regulatory Reporting Change Management - Vice President - 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 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 $122,000.00 and $175,000.00. 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.
Overview
The firm is going through a multi-year Regulatory Reporting Transformation program and this position reports into the Director of Change Management Department. You will work with other teams within the Data and Technology Departments to carry out the data sourcing activities to support regulatory reporting automation within FAD Controllers to ensure that regulatory reports are prepared in accordance with applicable reporting instructions, and data is sourced with required granularity within robust controlled environment, as well as communicating/monitoring Risk and issues to management and other stakeholders. Automation Team’s main objective is to provide assurances to the CFO Function that manual reporting process due to internal control deficiencies, misinterpretations and data issues that could impact regulatory reporting are minimized.
This position is a subject matter expert in the Regulatory Reporting Automation for BHC, Branch, Liquidity or Broker Dealer regulatory reports. This position will provide leadership to the team by setting the direction, defining the accountabilities and assignments, articulating goals and objectives, and monitoring and evaluating work. This position works closely with Director of Regulatory Reporting Change Management Department to ensure proper review of all work under the team’s responsibility.
Responsibilities
- Deep knowledge of Regulatory Reporting for US and foreign financial companies
- Experience in capital markets asset classes such as securities, derivatives, and securitization transactions and utilize the knowledge to drive the data sourcing activities
- Define regulatory reporting data requirements based on the instructions
- Drive the data gap analysis by working with multiple teams including data and source system owners
- Understand the financial product lifecycle & F2B data lineage/data flow to remediate the data gaps using tactical and strategical approach
- Drive Data Management activities with focus on data definitions, data sourcing strategies and data model preferred
- Participate in Testing and Quality Assurance (including test planning, test execution and test management)
- Develop and maintain strong working relationships with key business/governance/data governance and IT stakeholders to identify additional areas of risk and procuring their help in solving complex issues
- Ability to influence people outside the immediate span of control, negotiate and resolve conflicts, and work with business users, IT partners and vendor
Qualifications and Skills
7-10 years of work experience, including system implementation, Data sourcing design, and operational improvement projects.
5+ years of regulatory reporting experience at a financial services company or comparable experience working.
Knowledge of securities, derivatives, and securitization transactions systems such as PRISM or Impact is a plus
Post-graduate / Graduate degree in computer science, engineering, accounting, finance, or a related field
Excellent communication and senior management relationship management skills
Strategic thinking, strong analytical & problem-solving skills - excellent attention to detail
Team player with a strong sense of ownership and accountability
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 accommodations@smbcgroup.com.