Director, Volcker Compliance Officer - SMBC

Role Description

To support SMBC Americas’ business growth strategy, SMBC is establishing a global Volcker Office to ensure global consistency and adherence to the requirements of the Volcker Rule. Overall, the candidate should have a strong functional knowledge of the Volcker rule, and be able to implement, and manage SMBC’s compliance program for the Volcker Rule. On a day-to-day basis, the position works closely with various businesses and control functions to help ensure that the bank appropriately addresses the regulatory risks relative to the Rule. The position will also work and communicate with global stakeholders and regional Volcker Offices on various aspects of Volcker compliance. The Director will be responsible for rigorously supporting the Executive Director and managing the Volcker Program while working closely with senior stakeholders across SMBC globally.  

Role Objectives

Program Implementation:

• Assist to implement an enhanced Volcker Program to include (i) quarterly metrics reporting, (ii) six pillar compliance program, (iii) annual CEO attestation framework, and (iv) heightened standards for documentation.
• Contribute to the overall design and implementation of the Volcker Program and/or related technology strategy to deliver sustainable, scalable solutions.

SMBC Collaboration:

• Build relationships with key internal/external stakeholders centered on collaboration, flexibility, and thoughtfulness, assisting stakeholders across the bank in understanding Volcker obligations.
• Review and enhance critical Volcker Rule processes within its U.S., Tokyo, and EMEA regions, working with core Finance teams and other key colleagues (Technology, Risk, Compliance, etc.). 
• Support, guide, and define roles and responsibilities cross-functionally and regionally with both 1LOD, 2LOD, and 3LOD.
• Assist to advise the business on regulatory developments and related control enhancements and act as an escalation point of contact.
• Collaborate with various teams to review, analyze, and assess existing processes to identify areas where centralized oversight or additional controls may be required.
• Help to perform ongoing monitoring and provide transparent reporting to impacted stakeholders and senior management.
• Review RENTD methodology periodically, in line with Volcker expectations. Work closely with business and Market Risk in supporting Volcker RENTD framework; implementation of critical data model transformation and data quality control remediation projects.

Regulatory Coordination:

• Communicate with regulators on the organization’s Volcker-related matters and coordinate with stakeholders globally to align on expectations and delivery. 
• Assist in coordinating with regional Compliance coverage, internal and external subject matter experts, business, and senior management to enhance and implement consistent global standards for the Firm's global Volcker Program.

Volcker Office Responsibilities:

• Help to coordinate the metrics review and quarterly submission.
• Document and maintain policies and procedures related to the Volcker Programs.
• Guide, recommend, and implement enhancements to the Volcker compliance program and related policies/procedures to ensure that they are reasonably designed to achieve compliance with applicable requirements.
• Support the monitor desk-related compliance processes affecting new and/or enhanced trading desk structures, including the New Product Approval process and maintenance of the organization’s Volcker desk inventory. 
• Coordinate with 2LOD and 3LOD stakeholders on key pillars of the Volcker Program, including Independent Assessment, Training, and CEO Attestation. 
• Help to oversee the Volcker review with Compliance globally to confirm ongoing Volcker Rule adherence through ongoing monitoring and reporting. 
• Promote the professional development of team members by supporting existing programs and initiatives to continually develop new skills and capabilities, fostering an environment of continuous learning, knowledge sharing, and teamwork, and actively encouraging and contributing to the development of knowledge capital.

Qualifications and Skills

•    Minimum of 5-10 years’ experience in financial services, compliance or regulatory experience, or related experience with particular emphasis on the Volcker Rule.
•    Bachelor’s degree or equivalent required; advanced degree preferred.
•    Strong capability to manage complex projects independently, coordinating across multiple stakeholder groups, with a rigorous attention to detail.
•    Experience with managing components of compliance risk management frameworks.
•    Demonstrated track record of increasing project management responsibilities.
•    Ability to manage multiple projects simultaneously and re-prioritize workloads as necessary.
•    Demonstrates strong judgement, political astuteness, and sensitivity to cultural diversity.
•    Strong interpersonal and communications skills (written and verbal) to successfully interface with all levels of management and maintain solid working relationships in a collaborative group environment.
•    Significant knowledge of change/program management, financial operations and planning, risk and controls management, IT processes, and data management.
•    Ability to strategically develop and implement complex process and technology change management initiatives.
•    Ability to work independently in ambiguous environments that are not clearly defined.
•    Ability to prioritize efforts across multiple projects and manage competing deadlines with stakeholders.
•    Ability to be flexible and follow tight deadlines.
•    Self-starter who can execute time-sensitive projects against plans.

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.