Compliance Controls Inventory Associate

MBC 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 $80,000.00 and $131,000.00. 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 Group is seeking an Associate to join the Compliance Controls Inventory team, which is a part of SMBC’s Compliance Department Americas Division ("CPAD"). This role will report to the Director who serves as the Compliance Controls Inventory program lead and will assist in the maintenance of a Controls Inventory that documents compliance-related controls across the 1st and 2nd lines of defense. The Associate will engage extensively with other teams in Compliance and the 1st line of defense to identify, document and manage compliance-related controls.


The scope of this function will encompass SMBC Group’s Americas Division, inclusive of SMBC Group's wholesale and retail banking operations; U.S. and LATAM representative offices; U.S. broker dealer and registered swap deal; Cayman Branch; Canada Branch; Brazilian banking and trading subsidiary; and SMBC’s non-bank lending and leasing subsidiaries.


The candidate should have functional knowledge of either U.S. securities/commodities laws and regulations (SEC, CFTC, FINRA) or U.S. banking/prudential laws and regulations (FRB, CFPB, FDIC). Additionally, a risk management / internal control mindset to apply and assess risk identification / mitigation is essential. The candidate should have experience with data analytics and visualization, including preparing heat maps and charts based on Excel or similar applications. The candidate would also participate in the preparation of key metrics to evaluate the governance of the Controls Inventory.


Role Objectives

Primary Responsibilities:

Assist in managing the Semi-Annual Controls Attestation process, which includes:
Tracking control attestation completion and escalating delays;
Conducting quality control reviews on 1,500+ controls via the Controls Inventory technology platform (“CCI Tool”);
Hosting control review sessions with control owners to explain quality control feedback and ensure control owners adequately address it;
Providing group-wide and 1-on-1 training sessions to control owners.
Assisting the Controls Inventory team lead in managing program enhancements and CCI Tool enhancements being implemented by SMBC’s technology team, including tracking completion of enhancements, attending meetings with IT, and escalating delays and other challenges to senior management.
Analyzing the Compliance Risk Assessment (“CRA”) results to identify key control gaps (e.g,. compliance risks for which the CRA team was unable to identify controls in the Controls Inventory. Working with relevant stakeholders to design management action plans to address any key control gaps identified during the course of the CRA cycle.
Work with Controls Inventory lead to ensure control gaps identified in the annual Compliance Risk Assessment are adequately remediated, including ensuring controls are established, documented in the Controls Inventory.
Aid with development of presentation, communication and ad hoc analysis on topics related to controls.
Support program documentation maintenance.
Qualifications and Skills
Bachelor’s Degree required.
Minimum of 7 years of prior regulatory, compliance, and/or risk management experience.
Familiarity with either U.S. securities/swaps regulations (SEC, CFTC, FINRA) and/or U.S. banking laws and regulations (FRB, CFPB).
Ability to learn how to navigate IT tools and to provide demos and training to stakeholders on how to use such tools.
Experience working on teams that manage controls inventories at large banks (e.g., Risk and Control Self-Assessments or other controls inventory process) is a strong plus but not required.
Experience working in Internal Audit or Compliance Testing at a large bank is a strong plus but not required.

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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