Front Office Project Manager - Cross Products (Rates, FX, Fixed Income) - 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 $114,000.00 and $185,000.00. 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
SMBC Capital Markets Inc continues to grow its Global Markets Group in the Americas. The Front Office Technology Project Management Team is focusing on modernizing our technology, focus on our data driven approach, growth and plan for the future to align with the Global Markets Group strategy. As a result of this expansion, we are seeking a Front Office Project Manager to focus on building out our Front to Back Trade Support across bilateral and cleared Interest Rate, FX, and Credit Default Derivatives products.
Role Objectives
- Project Management implementation for strategic projects and enhancements across Rates, XVA, FX Desks, ETrading, and F2B Department Trade Support
- Lead new projects from inception through production go live, managing the project lifecycle across authoring Project Initiation Documents/Business Requirements Documents, Status Reports, leading Front to Back UAT across Users/Developers
- Working knowledge of products, services, business flows and understanding of financial context in which technology and operating principles are used withing their business area.
- Interacts with Business Analysts, Developers, Business Stakeholders, Program Managers
- Coordinate and facilitate routines to support delivery (e.g., kick-offs, reviews, stakeholder meetings, change controls, tollgates).
- Plan and coordinate delivery and dependencies across multiple teams supporting recourse planning for delivery and execution.
- Facilitate dependency management, risk management, and impediment removal for defined deliverables.
- Ensure execution meets client expectations for functionality, quality, timeline, and cost, as well as facilitating synchronization points across organizations.
- Gather and provide status updates to stakeholders and leadership regarding delivery, risks, and schedule
- Facilitates project planning against backlog/prioritized work. Manages risk/dependencies/impediments for on team. Ability to answer teams agile/waterfall framework questions.
- Understands all roles and responsibilities within their project working group and uses the tool sets within the software lifecycle
- Responsible for artifacts, routines, coordination and communication needed for governance forums. Understands stakeholder expectations and creates regular updates to keep stakeholders informed
- Identifies risk/dependencies and quantifies the impact it has on the business/technology and what controls are to be used to resolve
Qualifications and Skills
- 8+ years of experience in bank capital markets as a Project Manager with proven experience relating to Front, Middle Office and/or Back Office system implementations or equivalent operational experience.
- Strong work ethic with focus on meeting deadlines, objectives, and ability to learn new products and systems in a timely manner
- Bilateral and cleared Rates and FX Products experience across Swaptions, Cross Currency IRS, OIS, FRAs Deliverable Forwards, FX Options, Non Deliverable Forwards, Swap Spreads, Invoice Spreads
- Fixed Income Products experience across Treasuries(Bills, Notes, Bonds), Credit(IG, HY, EM), Agency Discount Notes
- Prior Capital Markets or Fixed Income Products experience, ability to demonstrate projects successfully launched and benefits
- Working knowledge of OTC market operations across Compression, Initial Margin Optimization, Clearing(CME, JSCC, LCH, ICE), and up to date on industry best practices
- Front to Back Trade support experience across booking new trades, trade affirmation, clearing, lifecycle events (Allocations, Novation’s, Backloading)
- Understands trade lifecycle F2B from Trade Execution(SEF / Off SEF) through affirmation, risk capture down to settlement of cash flow, variation margin initial margin
- SIMM IM vs Cleared IM, Risk Weighted Assets, MPOR, Delta, Present Values etc.. a plus
- Strong verbal and written communication skills. Ability to communicate effectively and confidently with users, team members.
- Strong analytical, strategic thinking and problem solving skills, including a thorough understanding of how to interpret business needs and translate them into application and operational requirements.
- Strong skills working with MS Excel, MS Project, MS Word, MS Power Point & SharePoint, Confluence
- Bachelor's degree. Finance, Computer Science or Information Systems preferred.
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.
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.