Compliance Monitoring & Testing, Vice President (Team Leader)
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. SMFGs 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 organizations extensive global network. The Groups 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 $128,000.00 and $178,000.00. 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
SMBCs Compliance Department Americas Division is seeking a Vice President of Banking Compliance Monitoring and Testing. The Vice President is responsible for execution of the monitoring and testing program. This role will also support the annual risk assessment process for the SMBCs U.S. wholesale banking operations; representative offices; Grand Cayman Branch and certain non-bank leasing subsidiaries/affiliate. This position has direct reports.
The candidate should have functional knowledge of applicable U.S. banking laws and regulations with specific emphasis on Alphabet Regulations such as Reg. W, Cross Border, Lending, Flood, Abandoned Property, Volcker, Japanese Firewall for Japanese Firms, Third Party Risk Management, Personal Account Dealings, Mandatory Time Away, and Cybersecurity, among other Banking regulations. Additionally, a familiarity of the U.S. regulatory environment, risk identification/mitigation, and managing the workflows for monitoring and testing engagements is essential.
Role Objectives: Delivery
Executes monitoring and testing activities for the M&T Program
Serves as the examiner-in-charge responsible for compliance monitoring and testing engagements
Assists in the development and refinement of monitoring and testing scripts
Prepares information requests, announcement memoranda and Kick-Off Memos to start Compliance Reviews
Performs assigned field work to validate the efficacy of internal controls and direct oversight of assigned staff and their assignments.
Ensures that cohesive work papers are prepared for each engagement in accordance with department standards.
Identifies underlying issues and escalation / validation thereof with clients
Drafts exceptions logs, manages factual accuracy with stakeholders and oversees reporting for issuance to management
Assists in the registration and tracking of identified issues and corrective action plans to validate remediation efforts
Involved with issue management function with remediation/challenge and closure of issues identified in monitoring and testing
Stays abreast of changing regulatory requirements and SMBCs business model to maintain a solid foundation of the applicable regulatory framework.
Participates in the annual risk assessment process of applicable laws and regulations to drive the Annual Plan for the M&T Program
Assists in the consolidation and reporting of results within local and Head Office reporting
Performs Control Design Effectiveness analysis and review of the rules and regulations under review
Qualifications And Skills
7+ years of Banking and Compliance Experience
Has a Compliance Testing, Bank Regulatory or Internal Audit background
Able to manage work independently and effectively and escalate to senior management
Able to work independently on projects with little oversight
Able to learn quickly and dissect complicated issues within a large and complex financial institution
CRCM certification a plus
SMBCs 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 [email protected]
Apply Now
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 organizations extensive global network. The Groups 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 $128,000.00 and $178,000.00. 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
SMBCs Compliance Department Americas Division is seeking a Vice President of Banking Compliance Monitoring and Testing. The Vice President is responsible for execution of the monitoring and testing program. This role will also support the annual risk assessment process for the SMBCs U.S. wholesale banking operations; representative offices; Grand Cayman Branch and certain non-bank leasing subsidiaries/affiliate. This position has direct reports.
The candidate should have functional knowledge of applicable U.S. banking laws and regulations with specific emphasis on Alphabet Regulations such as Reg. W, Cross Border, Lending, Flood, Abandoned Property, Volcker, Japanese Firewall for Japanese Firms, Third Party Risk Management, Personal Account Dealings, Mandatory Time Away, and Cybersecurity, among other Banking regulations. Additionally, a familiarity of the U.S. regulatory environment, risk identification/mitigation, and managing the workflows for monitoring and testing engagements is essential.
Role Objectives: Delivery
Executes monitoring and testing activities for the M&T Program
Serves as the examiner-in-charge responsible for compliance monitoring and testing engagements
Assists in the development and refinement of monitoring and testing scripts
Prepares information requests, announcement memoranda and Kick-Off Memos to start Compliance Reviews
Performs assigned field work to validate the efficacy of internal controls and direct oversight of assigned staff and their assignments.
Ensures that cohesive work papers are prepared for each engagement in accordance with department standards.
Identifies underlying issues and escalation / validation thereof with clients
Drafts exceptions logs, manages factual accuracy with stakeholders and oversees reporting for issuance to management
Assists in the registration and tracking of identified issues and corrective action plans to validate remediation efforts
Involved with issue management function with remediation/challenge and closure of issues identified in monitoring and testing
Stays abreast of changing regulatory requirements and SMBCs business model to maintain a solid foundation of the applicable regulatory framework.
Participates in the annual risk assessment process of applicable laws and regulations to drive the Annual Plan for the M&T Program
Assists in the consolidation and reporting of results within local and Head Office reporting
Performs Control Design Effectiveness analysis and review of the rules and regulations under review
Qualifications And Skills
7+ years of Banking and Compliance Experience
Has a Compliance Testing, Bank Regulatory or Internal Audit background
Able to manage work independently and effectively and escalate to senior management
Able to work independently on projects with little oversight
Able to learn quickly and dissect complicated issues within a large and complex financial institution
CRCM certification a plus
SMBCs 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 [email protected]
Apply Now