Operational Risk Management Vice President

2 months ago

Jersey City, New Jersey, United States SMBC Full time

Company Overview

SMBC Group stands as a premier global financial institution, rooted in a rich 400-year legacy. With its headquarters in Tokyo, the Group provides a comprehensive suite of financial services, encompassing banking, leasing, securities, credit cards, and consumer finance. SMBC Group operates over 130 offices and employs around 80,000 professionals across nearly 40 countries. The holding entity, Sumitomo Mitsui Financial Group, Inc. (SMFG), ranks among Japan's three largest banking conglomerates, with shares listed on major stock exchanges including Tokyo, Nagoya, and New York (NYSE: SMFG).

In the Americas, SMBC Group maintains a robust presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Leveraging the financial strength of SMBC Group and its extensive relationships in Asia, the organization delivers a wide array of commercial and investment banking solutions to corporate, institutional, and municipal clients. The Group's operating subsidiaries in the Americas comprise 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.

Position Overview

The Vice President of Risk plays a pivotal role in the formulation and execution of the Information Technology (IT) and Cybersecurity risk management framework, alongside overseeing operational resilience for the SMBC Group Americas Division (AD). This role aligns with relevant regulations, internal policies, and industry standards pertaining to risk management.

The Risk Management Department (RMDAD) serves as the second line of defense, tasked with monitoring and evaluating business practices in relation to the risk appetite framework established by SMBC. Within RMDAD, the Non-Financial Risk (NFR) team is responsible for creating an IT & Cyber Risk Management and Resilience Oversight framework, delineating roles and responsibilities across both first and second lines. The Risk VP is charged with delivering second line review and challenge throughout the execution of this framework.

Key Responsibilities

  • Assist the Director of Technology Risk and Resilience Oversight (TRRO) in ensuring effective governance, management, and control of IT, data management, cybersecurity, and operational resilience risks.
  • Contribute to the review and enhancement of Operational Risk Management (ORM) policies specific to IT, data management, cybersecurity, and operational resilience.
  • Support the assessment and challenge of the first line of defense's risk identification, evaluation, mitigation strategies, and overall operational risk profile concerning IT, data management, cybersecurity, and operational resilience.
  • Report control deficiencies, metrics breaches, and incidents related to IT, data management, cybersecurity, and operational resilience to second line management as necessary.
  • Provide insights and guidance on matters concerning IT, data management, cybersecurity, and operational resilience risks, including standards, policies, and control frameworks.
  • Comprehend the implications of IT, data management, cybersecurity, and operational resilience risks across the organization and its subsidiaries.
  • Stay informed about regulatory changes, new initiatives, processes, controls, and events that may influence the operational risk profile of the bank.
  • Collaborate with various business units to enhance awareness of IT, data management, cybersecurity, and operational resilience risks.
  • Engage with the ORM Central Team to gather and disseminate pertinent information, monitor, and report on changes to policies, standards, and controls related to IT, data management, cybersecurity, and operational resilience risks.
  • Deliver ad-hoc reporting on IT, data management, cybersecurity, and operational resilience risks to management.

Qualifications

  • Extensive knowledge of technology and cyber risk management practices, with the ability to integrate these with the firm's operational risk management processes.
  • A minimum of 7 years of relevant experience in the financial services sector, emphasizing risk management, regulatory compliance, information technology, data management, cybersecurity, operational resilience, or audit functions.
  • Foundational understanding of enterprise risk management practices, including project management and risk control self-assessments.
  • Proficient in technology and cyber risk management processes and controls, with familiarity in industry frameworks (e.g., NIST, ISO).
  • Detail-oriented with a proven capacity to challenge the status quo effectively.
  • Strong organizational skills, capable of managing multiple priorities simultaneously.
  • Demonstrated ability to influence diverse stakeholders.
  • Effective in a matrixed environment, showcasing flexibility, collaboration, and adaptability.
  • Ability to work autonomously.
  • Strong analytical capabilities and meticulous attention to detail.
  • Basic knowledge of banking regulations (North America, APAC preferred).
  • Maintain a mindset focused on operational risk management and regulatory compliance to identify and mitigate underlying risks.
  • Excellent interpersonal and communication skills to foster solid working relationships across various levels.
  • A commitment to delivering high-quality work in a timely and efficient manner.
  • Bachelor's degree required; Master's degree preferred.
  • Relevant IT risk/IT security certifications (CISA, CISM, CISSP) are advantageous.

SMBC promotes a hybrid work model, allowing employees to work from home and from the office, provided they reside within a reasonable commuting distance. Specific hybrid work schedules will be discussed during the interview process.

SMBC is an equal opportunity employer, ensuring that all qualified applicants receive consideration for employment without discrimination based on race, color, religion, gender, national origin, disability status, protected veteran status, or any other characteristic protected by law. Reasonable accommodations are available for employees and applicants with disabilities in accordance with applicable law.

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