Market Risk Strategic Initiatives Director

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 $188,000.00 and $220,000.00. 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

CM is seeking a Vice President within its Risk Management Department. The role will report into the Team Lead of Strategic Initiatives in Market Risk.

 

Coverage area for the role will be across all of SMBC CUSO. As the role is centralized into SMBC, the firm’s goal is to operationalize a more efficient risk organization in US.

The role is expected to collaborate with various teams in the Front Office, Systems & Technology partners, Finance and Accounting partners, as well as leverage resources in the RMDAD to cover market risk across banking book, derivatives, and securities products.

Role Objectives: Delivery

 

1. Assist Team Lead to implement risk management framework and environment that has sufficient stature, authority, access, and resources to reflect leading industry practices that meet both business and regulatory requirements for the appropriate risk structure.
2. Ensure an objective, critical assessment of risks and define and develop key risk categories and risk identification in full compliance with relevant regulations.
3. Assist in the development of frameworks, policies, processes, and procedures designed to ensure risk identification, aggregation, mitigation, and monitoring capabilities in compliance with the sound operation of both business and regulatory requirements.

Oversight of Ongoing Risk Management Activities

1. Maintain an effective independent risk management function that properly controls the legal entities’ risks, meets US, Japanese and other relevant country regulatory risk requirements, and head office requirements.
2. Analyze new products and business lines, evaluate the costs, benefits, and risks of each new product offered, and make specific recommendations thereto.
3. Assist in overseeing the provision of risk services to the legal entity by risk specialists, ensure services delivered are consistent with requirements and, where needed, escalate issues, and suggest changes to service requirements in KRIs to ensure appropriate service.

 

Role Objectives: Interpersonal

 

1. In-depth knowledge of market risk, credit risk, liquidity risk, operational risk, and other risks.
2. In-depth knowledge of U.S. and international banking laws and regulatory requirements and best practices (specifically risk management frameworks and regulatory requirements such as FRTB, Basel Market Risk Rule, IRBB, Basel SA-CCR, Dodd Frank Act, CFTC Rule 23.600, the Volcker Rule, and Swap Dealer registration requirements, SR 11-07, SR 11-10, etc.)
3. Strong knowledge of derivatives and their key risks, particularly interest rate and FX products and an expert understanding of relevant risk and related valuation concepts (e.g. VaR and stress-testing standards, counterparty exposure estimation, liquidity estimation, model assessment and validation, documentation, and reporting approaches).
4. Familiarity with risk management frameworks for vari