Model Risk Management Specialist

2 weeks ago


Jersey City, New Jersey, United States Sumitomo Mitsui Banking Corp Full time

Company Overview
Sumitomo Mitsui Banking Corporation (SMBC) is a premier global financial institution with a rich legacy spanning over 400 years. With its headquarters in Tokyo, SMBC Group provides a comprehensive suite of financial services, including banking, leasing, securities, credit cards, and consumer finance. The organization boasts a workforce of over 80,000 employees across more than 130 offices in nearly 40 countries.

Role Overview
We are seeking a dedicated Model Risk Management Associate to become an integral part of our Model Risk Management Team. This position requires a solid background in project management and is pivotal in executing and delivering projects related to model risk management. The selected candidate will report directly to the Executive Director of Risk Model Validation and will collaborate closely with various stakeholders, including model owners, developers, IT, audit teams, senior management, and the Board.

Key Responsibilities:
  • Oversee multi-year initiatives in Model Risk Management, focusing on regulatory compliance, IT systems development, and special projects.
  • Implement effective change management processes and controls, ensuring the creation of comprehensive closure packages for audits and regulatory bodies.
  • Collaborate with model owners and developers to ensure timely resolution of findings and alignment of Model Risk programs with other bank initiatives.
  • Foster strong partnerships across the organization to ensure model risk programs are integrated with broader bank-wide initiatives, promoting efficient and effective project delivery.
Qualifications:
  • Minimum of 3 years of relevant experience.
  • Solid understanding of fundamental Model Risk Management principles.
  • Familiarity with audit requirements and the development of issue closure packages.
  • Experience in project management within the banking sector, particularly concerning regulatory programs.
  • Bachelor's degree in finance, accounting, or a related field.
  • Exceptional communication (both verbal and written), organizational, and interpersonal skills.
  • Prior experience in a second line of defense function, such as Model Risk Management or EUC Risk Management, is preferred.
  • Knowledge of regulations such as SR 11-7, Basel, CCAR, and SOX is advantageous.
  • Proficiency in Excel and PowerPoint is preferred.
Additional Information:

SMBC operates under a hybrid workforce model, allowing employees to work both remotely and from SMBC offices. Employees are expected to reside within a reasonable commuting distance of their designated office location. Specific hybrid work schedules will be discussed during the interview process.

SMBC is an equal 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 in accordance with applicable law.



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