Compliance Infrastructure Advisory - SMBC
New York, NY 10172
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 $173,000.00 and $275,000.00. 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.
Role Description
This individual will lead the infrastructure advisory team and partner with the overall compliance team and management in communicating the company's culture of compliance. This individual will be responsible for bank, broker-dealer and swap dealer regulatory compliance across support functions. The individual will be responsible for the coordination and timely updates of rule changes, management reports, policies, procedures, compliance reminders as well as responses to support regulatory inquiries, examinations, audits and monitoring and testing. The individual must be familiar with US banking, securities and swap dealer laws and regulations, and must have the requisite expertise to opine on the adequacy and effectiveness of compliance processes.
SCOPE
Provide advice and oversight of SMBC's infrastructure compliance program, including bank, securities and swap dealer laws and regulations. This position has 3 direct reports.
Role Objectives
- Coordinate bank, broker-dealer, and swap dealer regulatory Compliance programs across SMBC’s Americas Division for all support functions.
- Oversee and provide compliance advisory coverage and guidance to all support functions.
- Provide compliance subject matter expertise for some bank, Swap dealer and Broker dealer regulations applicable to support functions (e.g., Operations, IT, and Risk).
- Manage compliance with certain SMBC obligations, including, for example, the accuracy, completeness and delivery of confirmations.
- Review and update bank, broker-dealer, and swap dealer regulatory compliance policies and related procedures.
- Create and deliver compliance training program as a subject matter expert by drafting appropriate training materials and conducting trainings, as required.
- Coordinate with Compliance surveillance and testing teams, including by reviewing surveillance and other control reports and developing or enhancing controls where needed.
- Review and supplement annual and ad hoc risk assessment exercises
- Participate in Firm committees as a bank, broker-dealer, and swap dealer regulatory compliance subject matter expert.
Qualifications and Skills
- Minimum 15 years of experience in financial services including regulatory related work;
- Exceptional organizational and time management skills are essential.
- Knowledge of securities businesses in order to determine appropriate control points where one might intercede to manage compliance and effective internal controls.
- Knowledge of the markets in order to benchmark SMBC’s practices to those of the marketplace.
- Excellent judgment in handling complex and highly confidential matters with unquestionable character, integrity and professionalism.
- Capability to drive consensus and, where appropriate, to take a firm position even in the absence of broad-based support.
- Analytical knowledge of complex products, issues and people and the mix of those – and the operational, financial, systemic, and risk management processes around such products and services.
- Excellent written and oral communication skills.
- Ability to create clear, convincing and well-organized presentations and communications.
- Experience working for a non-U.S. bank / broker dealer is highly desirable.
- Familiarity with U.S. legal and regulatory requirements applicable to non-U.S. financial institutions engaged in corporate banking and institutional trading & sales activities is highly desirable.
- Experience dealing with U.S. banking and securities regulators, including the Federal Reserve, SEC/FINRA, and CFTC/NFA, is preferred but not required.
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.
#LI-RCH
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.
