Audit Director - Product and Valuations Control

Full job description
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 $190,000.00 and $225,000.00. 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 is seeking an experienced Audit Director with a minimum of 15 years of experience working in financial services specifically supporting Global Markets, to lead audit coverage of finance related Product Control function within the Internal Audit Department (IAD). The ideal candidate will be responsible for overseeing complex audits as an Auditor in Charge, ensuring work is performed in accordance with IIA standards and IAD policies and procedures, and supporting the Team Lead in the execution of their duties.

Role Responsibilities:
Lead and effectively execute high quality and risk based audits of Product Control function which involves extensive knowledge over valuation of capital markets products.
Understand the trading desks risk profiles and effectively challenge adequacy of Liquidity/ Model/ Valuation reserves and independent price testing (IPV) for fixed income securities, structured products and derivatives.
Effectively communicate with stakeholder and audit senior management to clearly articulate audit strategy, testing results and corrective measures.
Assist with the delivery and execution of IAD's broader audit plan and assurance responsibilities.
Participate in quarterly and annual continuous monitoring / risk assessment process to identify business trends and changes in the business risk profile.
Assist with special projects related to business process improvements or departmental strategic initiatives.
Track and validate closure of issues raised by the department and regulators.
Develop, promote, and maintain a collaborative and strong working relationship with key stakeholders.
Assist with supervision of junior team members.
Qualifications and Skills
Minimum of 15 years of experience in Risk, Finance, or Accounting function.
Strong knowledge of global markets products including, fixed income, structured debt and derivatives trading businesses.
Preferred prior experience related to product control/accounting/Financial Control function but not essential.
Strong knowledge over asset pricing and valuation practices i.e., (IFRS 13, ASC 820 US GAAP) and accounting standards.
Knowledge of audit techniques and standards, risks / controls assessments and solid risk impact assessment skills.
Strong analytical, problem solving, and project management skills.
To be successful in this role, the ideal candidate must have excellent written and verbal communication skills, be highly resourceful with sense of detail and urgency, and ability to motivate others to deliver.
Strong leadership skills; able to gain respect, and cooperation.
Intermediate proficiency in excel and power point. Ability to organize data in visualization tools such as Power BI, Tableau, Alteryx.
Bachelor’s degree in finance, economics, accounting, or related field.
Professional qualifications such as CPA, CFA, FRM, CIA a plus.
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. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.


SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.

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