Location: Jersey City,NJ, USA
Financial Reporting Vice President
Job Level: Vice President
Job Function: Business Operations
Location:
Jersey City, NJ, US, 07311
Employment Type: Full Time
Requisition ID: 2956
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 $92,000.00 and $175,000.00. 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
SMBC is seeking a self -motivated and diligent professional for a full-time position in the Regulatory Reporting RWA Department. This position is responsible for supporting Risk Weighted Assets RWA Analytics, specifically RWA calculation relative to Basel Rule. The candidate will work closely with key partners leading the RWA transformation efforts including Basel III Endgame readiness most importantly implementation of SA-CCR Calculations.
Responsibilities
* Primarily responsible for SA-CCR analysis, requirements gathering and overall ownership of the calculation implementation
* In addition person will also work on, preparing quarterly Credit Risk RWA and Capital ratios Calculation for BHC
* Prepare daily and monthly Credit Risk RWA and Capital ratios Calculation for group company who is registered as a swap dealer with CFTC
* Support analysis of Basel RWA Reporting based on US Regulatory requirements
* Assist in requirements gathering, test case reviews, user acceptance testing of the calculation engine automation
* Works with IT on systems implementation
* Document and maintain EUC procedures and ensure financial controls and validations are performed as expected
* Build metrics reporting, impact assessments, and reporting of ongoing monitoring of any exceptions
* Be involved in understanding and assessing impact of rule changes on the calculations and addition of new products
* Focus on improving governance, efficiency and control through process optimization, and proactively identifying and remediating areas of regulatory deficiencies
* Identify opportunities for automation, increased transparency, and enhancement of business processes
* Work closely with key partners to ensure alignment with strategic goals
Qualifications and Skills
* The ideal candidate will have 6+ year's work experience in finance, accounting and / or risk. SA-CCR experience is a must
* Bachelor's Degree in Finance, Accounting or similar discipline
* 6+ years of related work experience
* 2-3 years of SA-CCR experience is a must
* Advanced Microsoft Office Suite (e.g. Excel) skills required
* Self-motivated with ability to make decisions and maintain a controlled environment
* Ability to interact with all levels of management, work independently and in a team environment
* Ability to be flexible and follow tight deadlines
* Ability to multi-task, be proactive and collaborative
* Strong interpersonal/communication skills (oral and written)
* Strong capability to manage complex projects independently, coordinating across multiple stakeholder groups
* Significant knowledge of change/program management, financial operations and planning, risk and controls management, IT processes, and data management
Additional Requirements
D&I Commitment
Responsible for fostering a culture of diversity and inclusion, holding leaders accountable for creating an inclusive environment through awareness and practice of equity in recruiting, developing, and promoting diverse talent.
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.
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 ...@smbcgroup.com.
Nearest Major Market: Jersey City
Nearest Secondary Market: New York City