Job Description
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 $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 results of the CRA are utilized to drive monitoring and testing activities and to prioritize Compliance and other resources as new emergent risks are identified.
This role will include conducting compliance risk assessments of certain U.S. legal entities in the role of subject matter expert (“SME”) as well as managing other SMEs outside of the CRA team in their conduct of compliance risk assessments for the legal entities they cover (primarily non-U.S. entities). The role requires leading workshops with 1st line of defense (“1LOD”) and Compliance and other 2nd line of defense (“2LOD”) subject matter experts to assess relevant compliance risks and controls.
The scope of this function will encompass SMBC Group’s Americas Division, inclusive of U.S. broker dealer and registered swap dealer; SMBC Group's wholesale and retail banking operations; U.S. and LATAM representative offices; Grand Cayman Branch; Canada Branch; Brazilian banking and trading subsidiary; and Mexican non-bank leasing affiliate.
The candidate should have a track record of successfully managing projects as well as a strong risk management / internal control mindset to assess compliance risks and controls. Additionally, strong knowledge of either U.S. securities/commodities laws and regulations (SEC, CFTC, FINRA) or U.S. banking regulations (e.g., Federal Reserve) and relevant products and services is essential.
Role Objectives
Manage comprehensive range of program management matters and supports prioritization, scope of work and deliverables related to the CRA program.
Assist Head of Risk and Control Assessment and CRA Program Lead in managing the CRA process, including ensuring required tasks are completed in a timely manner and that CRA team retains all required documentation.
Assist with the continuous enhancements to the design and methodology of the CRA framework for SMBC Americas Division.
Track status of initiative, projects, and milestones and circulate information in weekly and monthly status reports, as needed, including escalating to management and relevant stakeholders on potential issues.
Oversee execution of the book of work, budgets and change program with accountable stakeholders and technology partners, including handling day-to-day matters to ensure responsibilities are clear and milestones are being met according to plans.
Develop, document, and maintain tracking and reporting tools (through SharePoint, Excel, etc.) to facilitate effective and efficient management status reporting for development and maintenance of GRC and CRA related programs.
Work with CRA team to execute compliance risk assessments of various U.S. entities according to candidate’s skills set (e.g., broker dealer or lending).
Learn how to utilize newly implemented CRA technology solution and provide training to subject matter experts outside the CRA team who are required to use the tool.
Assist in the presentation of CRA results to senior 1LOD and 2LOD management, including an overview of the level of compliance risk and the strength of relevant controls.
Help develop risk dashboards designed to identify the regulatory compliance risk profile on an ongoing basis.
Support the integration of the CRA results with the activities of the Compliance Department, including with respect to documenting key controls as well as driving monitoring and testing plans.
Qualifications and Skills
Bachelor’s Degree required; JD or MBA is a strong plus (but not required).
Minimum of 15 years of prior regulatory, compliance, project management and/or risk management experience.
Experience managing projects, creating project plans, tracking statuses, and reporting issues to management.
Functional knowledge of either U.S. banking regulations (FRB, FDIC, CFPB) or securities/swap dealer regulations (SEC, CFTC, FINRA, NFA) and related products and services.
Experience working in a Compliance Advisory role covering either banking products/services or trading/capital markets businesses or conducting Compliance Risk Assessments is a strong plus.
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.
Demonstrated track record of successfully managing projects and utilizing project management documentation and reporting tools (SharePoint, PowerPoint, Excel, etc.)
Ability to manage multiple projects simultaneously and re-prioritize workloads as necessary.
Strong analytical skills to understand project goals and interpret them into meaningful action.
Ability to analyze results and identify trends / forecasting using resultant data and other available metrics (e.g., KPI, KRIs, etc.) while promoting measures to mitigate regulatory compliance risk.
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.
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 results of the CRA are utilized to drive monitoring and testing activities and to prioritize Compliance and other resources as new emergent risks are identified.
This role will include conducting compliance risk assessments of certain U.S. legal entities in the role of subject matter expert (“SME”) as well as managing other SMEs outside of the CRA team in their conduct of compliance risk assessments for the legal entities they cover (primarily non-U.S. entities). The role requires leading workshops with 1st line of defense (“1LOD”) and Compliance and other 2nd line of defense (“2LOD”) subject matter experts to assess relevant compliance risks and controls.
The scope of this function will encompass SMBC Group’s Americas Division, inclusive of U.S. broker dealer and registered swap dealer; SMBC Group's wholesale and retail banking operations; U.S. and LATAM representative offices; Grand Cayman Branch; Canada Branch; Brazilian banking and trading subsidiary; and Mexican non-bank leasing affiliate.
The candidate should have a track record of successfully managing projects as well as a strong risk management / internal control mindset to assess compliance risks and controls. Additionally, strong knowledge of either U.S. securities/commodities laws and regulations (SEC, CFTC, FINRA) or U.S. banking regulations (e.g., Federal Reserve) and relevant products and services is essential.
Role Objectives
Manage comprehensive range of program management matters and supports prioritization, scope of work and deliverables related to the CRA program.
Assist Head of Risk and Control Assessment and CRA Program Lead in managing the CRA process, including ensuring required tasks are completed in a timely manner and that CRA team retains all required documentation.
Assist with the continuous enhancements to the design and methodology of the CRA framework for SMBC Americas Division.
Track status of initiative, projects, and milestones and circulate information in weekly and monthly status reports, as needed, including escalating to management and relevant stakeholders on potential issues.
Oversee execution of the book of work, budgets and change program with accountable stakeholders and technology partners, including handling day-to-day matters to ensure responsibilities are clear and milestones are being met according to plans.
Develop, document, and maintain tracking and reporting tools (through SharePoint, Excel, etc.) to facilitate effective and efficient management status reporting for development and maintenance of GRC and CRA related programs.
Work with CRA team to execute compliance risk assessments of various U.S. entities according to candidate’s skills set (e.g., broker dealer or lending).
Learn how to utilize newly implemented CRA technology solution and provide training to subject matter experts outside the CRA team who are required to use the tool.
Assist in the presentation of CRA results to senior 1LOD and 2LOD management, including an overview of the level of compliance risk and the strength of relevant controls.
Help develop risk dashboards designed to identify the regulatory compliance risk profile on an ongoing basis.
Support the integration of the CRA results with the activities of the Compliance Department, including with respect to documenting key controls as well as driving monitoring and testing plans.
Qualifications and Skills
Bachelor’s Degree required; JD or MBA is a strong plus (but not required).
Minimum of 15 years of prior regulatory, compliance, project management and/or risk management experience.
Experience managing projects, creating project plans, tracking statuses, and reporting issues to management.
Functional knowledge of either U.S. banking regulations (FRB, FDIC, CFPB) or securities/swap dealer regulations (SEC, CFTC, FINRA, NFA) and related products and services.
Experience working in a Compliance Advisory role covering either banking products/services or trading/capital markets businesses or conducting Compliance Risk Assessments is a strong plus.
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.
Demonstrated track record of successfully managing projects and utilizing project management documentation and reporting tools (SharePoint, PowerPoint, Excel, etc.)
Ability to manage multiple projects simultaneously and re-prioritize workloads as necessary.
Strong analytical skills to understand project goals and interpret them into meaningful action.
Ability to analyze results and identify trends / forecasting using resultant data and other available metrics (e.g., KPI, KRIs, etc.) while promoting measures to mitigate regulatory compliance risk.
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.
💡 Quick Summary
Seeking a career-building opportunity? The Compliance Risk Assessment position is now open for candidates interested in the Bank Jobs sector. This role in Jersey City offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
