Swap Dealer Compliance Advisory - Trade Reporting - 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 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 $163,000.00 and $250,000.00. 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
The Compliance Advisory function assists in supporting internal stakeholders regarding a broad range of compliance and regulatory issues and works hand-in-hand with business partners to advise on compliance matters and interpret rules.
This Compliance Advisory Director will be primarily focused on providing oversight and Compliance advisory support with respect to swap transaction reporting activities. This will include acting as the main contact within Compliance for questions regarding swap transaction reporting, participating in related governance forums and industry groups, and partnering with the Legal Department on questions requiring further interpretation.
Role Objectives
- Provide Compliance advice and support as it relates to swap transaction reporting.
- Serve as a subject matter expert on transaction reporting pursuant to Parts 43 and 45 of the CFTC regulations and other relevant swap transaction reporting requirements.
- Provide advice related to the mitigation and remediation of non-compliance issues related to swap transaction reporting.
- Develop, maintain, and communicate Compliance policies related to swap transaction reporting requirements. Provide training on Compliance policies and regulatory requirements.
- Participate in industry groups to develop and maintain detailed knowledge of swap transaction reporting requirements and industry best practices.
Qualifications and Skills
- A solid foundation in laws, rules, and regulations pertaining to U.S. swap dealers with experience and expertise in relevant swap transaction reporting requirements (e.g., Parts 43 and 45 of the CFTC regulations). Experience with large trader reporting requirements a plus.
- Experience in a Compliance role advising on the application of CFTC swap transaction reporting rules to the Operations function. Significant experience in an Operations role will also be considered.
- Understanding of swaps and other derivative products.
- Ability to manage multiple assignments and build consensus among stakeholders.
- Ability to analyze complex situations and provide clear guidance in time-sensitive situations.
- Attention to detail and discipline to follow up on issues until resolution.
- Ability to work well independently as well as within a team environment.
- Well organized with project management skills.
- At least 7-10 years of Swap Dealer Compliance experience. Additional relevant professional experiences, including in transaction-reporting related Operations roles, will also be considered.
- BA/BS required. JD a plus.
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.
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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.
