Risk Model Validation Specialist
4 weeks ago
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 $147,000.00 and $191,000.00. 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.
**Overview**:
SMBC is seeking a Model Validation Vice President with strong quantitative background to join the Market & Liquidity Model Validation Team within the Model Risk & Validation Group. The Market & Liquidity Model Validation Team is responsible for the independent validation of all derivative pricing, e-trading, market risk, liquidity risk and xVA/CCR models. This position will be part of our hybrid workforce model utilizing a combination of in-office and at-home work.
**Responsibilities**:
- Conduct end-to-end validations and reviews of derivative pricing, e-trading, market risk, liquidity risk and xVA/CCR models
- Develop and maintain documentation, work papers and professional reports of validation results
- Communicate findings from validation work to management and stakeholders, including recommendations as appropriate
- Document model validation procedures and findings, coordinate with stakeholders to resolve issues
- Summarize and present model validation results and findings to management committee
- Communicate technical concepts to non-technical audience
**Qualifications**:
- Master's Degree or PhD in Finance, Mathematics, Physics, Engineering, Computer Science or related quantitative field with a minimum 5 years of work experience in model development, model validation, quantitative research, risk management
- Experience in derivative pricing (particularly interest rate and FX products), interest rate, counterparty credit risk, market risk, liquidity risk models
- Strong analytical skills, both quantitative and qualitative
- Proficient in programming, especially Python
- Good problem solver; ability to learn quickly; able to work multiple cross-functional efforts
- Effective interpersonal and leadership skills, strong communication, especially written
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