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 $144,000.00 and $180,000.00. 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 DescriptionSMBC's Compliance Department Americas Division is seeking a Vice President of the Compliance Monitoring and Testing team to perform testing of its broker/dealer (SMBC Nikko Securities America, INC). The Vice President is responsible for execution of the monitoring and testing program. This position will principally serve as a team lead for monitoring and testing engagements. The Vice President will have direct management oversight of a small team of compliance professionals to support monitoring and testing engagements to validate the efficacy of regulatory compliance internal controls. The candidate should have functional knowledge of applicable U.S. broker dealer laws and regulations with specific emphasis on FINRA and SEC rules and regulations. Additionally, a familiarity of the U.S. regulatory environment, risk identification / mitigation; and managing the workflows for monitoring and testing engagements is essential.Role Objectives
- Manages monitoring and testing activities for M&T Program
- Serves as the examiner-in-charge responsible for all facets of compliance monitoring and testing engagements
- Assists in the development and refinement of monitoring and testing scripts
- Prepares information requests, announcement memoranda and Kick-Off Memos to start Compliance Reviews
- Performs assigned field work to validate the efficacy of internal controls and direct oversight of assigned staff and their assignments.
- Ensures that cohesive work papers are prepared for each engagement in accordance with department standards.
- Identifies underlying issues and escalation / validation thereof with internal clients
- Drafts exceptions, manages factual accuracy confirmation with stakeholders and oversees the issuance of the final report to management
- Assists in the input, tracking, and validation of identified issues and corrective action plans to validate remediation efforts
- Stays abreast of changing regulatory requirements and SMBC's business model to maintain a solid foundation of the applicable regulatory framework
- Assists in the consolidation and reporting of results within local and Head Office reporting
Qualifications and Skills
- 10+ years of prior regulatory, compliance, audit and/or risk management experience with demonstrated track record of increasing management responsibilities
- Advanced Degree and/or Certifications (i.e. FINRA Series 7,63, 24) are desired
- Has a Compliance Testing, Broker Dealer Regulatory or Internal Audit Background
- Strong desire to continually deliver a quality and meaningful work product in a timely and efficient manner
- Strong interpersonal and communications skills to successfully interface with all levels of management and maintain solid working relationships
- Able to work Independently on projects with little oversight
- Able to learn quickly and dissect complicated issues within a large and complex financial institution
- Technical competency of applicable laws and regulations and application thereof during monitoring and testing engagements
- Able to multi-task and perform work functions efficiently and timely
- Strong analytical skills and attention to detail
- Motivated and action-oriented
- Adaptable and able to evolve and change with Bank Transformation
Additional RequirementsD&I CommitmentResponsible 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. 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 ...@smbcgroup.com.