Regulatory Control Governance

3 weeks ago

Jersey City, United States Sumitomo Mitsui Banking Corporation Full time $83,000 - $120,000

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 MANUBANK, 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 $83,000.00 and $120,000.00. 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

Responsible for effective financial regulatory reporting operations for the US Branch & BHC, including the production of high quality financial regulatory reports, maintenance of an effective regulatory reporting platform, and an internal control framework designed to mitigate risk, enhance the accuracy of regulatory reporting, and ensure the compliance to applicable US regulatory reporting requirements.


Reporting to the Vice President, Regulatory Reporting Controller, the Associate is responsible for ensuring a sound financial regulatory reporting function under a strong internal control framework, and an effective financial regulatory reporting platform. They will be responsible for supporting management to ensure proper compliance with various regulatory reporting standards from supervisory agencies. In addition, the position should ensure that stringent procedures and internal control framework are in place to support effective controls. This position also has close interactions with other finance, risk, data governance and IT leaderships in the bank.


Support all regulatory reporting work processes, internal control activities, management reports, external regulatory examination, internal audit, resource planning and emergent changes and guidance related to Bank Holding Company required reports of the Federal Reserve Bank, SEC, FINRA and other regulatory agencies.


This role will interact with various business areas, understanding process and workflows at various stages, ensuring exceptions are effectively identified, monitored, reported, and escalated to the appropriate governance and oversight groups. The role will also support the Regulatory Control Governance team by leading and supporting corrective action planning and developing strategies as exceptions are analyzed.

Responsibilities
  • Preparation of regulatory reports as deemed necessary.
  • Monitor, escalate, and report issues/exceptions to management or other relevant stakeholders on a periodic basis;
  • Monitor the remediation of issues/exceptions to ensure they are resolved satisfactorily and on a timely basis;
  • Strong analytical thinking and root-cause analysis for exception management efforts;
  • Processes data, metrics, and provides analyses and interpretation of exception management results, assisting in the correlation of findings to risk and control self-assessment results;
  • Maintenance of exception management data (key performance and key risk indicators)
Qualifications and Skills
  • Knowledge of CUSO, BHC, Branch, & Broker Dealer regulatory reporting requirements and report preparation
  • Familiar with regulatory reporting tools and systems such as AxiomSL, Reg Reporter or Agile Reporter
  • Minimum of 3-5 years knowledge and experience in regulatory reporting and/or financial industry control environment through monitoring exception management, issue tracking, or incident maintenance;
  • Work in a proactive, collaborative, simplistic manner, building relationships through solid, timely communication and useful information;
  • Financial product knowledge and/or understanding of middle office and trade life-cycle process and reporting is a plus;
  • Good stakeholder management skills, ability to prioritize multiple competing priorities;
  • Strong organizational skills, excellent verbal, and written communication skills
Additional Requirements

SMBC’s 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. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.


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 accommodations@smbcgroup.com.

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