Head of Risk Assessment, Monitoring and Testing

4 weeks ago

New York, United States Sumitomo Mitsui Banking Corporation Full time

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 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 $275,000.00 and $325,000.00. 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 Head of Risk Assessment, Monitoring and Testing, and Regulatory Change Management is a crucial role within the Compliance Department, reporting directly to the Head of Corporate Compliance. This role is tasked with leading three key functions: Compliance Risk Assessment, Monitoring and Testing, and Regulatory Change Management. Additionally, the position oversees the Risk and Control Self-Assessment (RCSA) process for Corporate Compliance.

**Role Objectives**:

- Leadership of Key Teams: Direct and oversee the activities of the Compliance Risk Assessment, Monitoring and Testing, and Regulatory Change Management teams, ensuring alignment with the firm’s objectives and regulatory requirements.
- Compliance Risk Assessment: Lead the Compliance Risk Assessment Program, identifying and evaluating compliance risks across the organization and ensuring they are appropriately managed and mitigated.
- Monitoring and Testing: Oversee the Compliance Monitoring and Testing Program, ensuring it effectively identifies compliance risks and control weaknesses.
- Regulatory Change Management: Manage the Regulatory Change Management Program, ensuring all regulatory changes are identified, assessed, and implemented within the required timelines, with appropriate updates to policies, procedures, and controls.
- Risk and Control Self-Assessment (RCSA): Oversee the RCSA process for Corporate Compliance, ensuring it accurately reflects the compliance risk environment and that control effectiveness is regularly assessed.
- Stakeholder Engagement: Engage with senior management, regulators, and the business to advise on compliance risk management strategies and regulatory change implications.
- Team Development and Training: Foster the development of team members through training and professional growth opportunities, ensuring the team remains highly skilled and knowledgeable about evolving regulatory requirements.

**Qualifications and Skills**:

- Education: Bachelor’s degree required; advanced degree preferred.
- Experience: Minimum of 15 years of experience in compliance, risk management, or a related field within the financial services industry, including significant leadership experience.
- Regulatory Knowledge: Deep understanding of the regulatory environment affecting the financial services industry, with a strong ability to interpret and implement regulatory changes.
- Analytical and Strategic Skills: Exceptional analytical skills with the ability to oversee complex assessments and develop strategic risk management solutions.
- Leadership and Team Management: Proven leadership skills with the ability to manage and develop high-performing teams, fostering an environment of collaboration and professional growth.
- Communication: Excellent communication and interpersonal skills, with the capability to engage and influence stakeholders at all levels within and outside the organization.
- Project Management: Strong project management abilities, with experience managing large-scale compliance projects and initiatives.

**Additional Requirements**:
MD Risk Guidance

Establish and adhere to policies, procedures, and processes

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