Financial Reporting 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, Ireland, 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.

Role Description

SMBC is seeking a Technical Accounting resource for SMBC NY Branch, SMBC Americas Holdings, Inc. and its U.S. subsidiaries (including a broker dealer, lessor entities, swap dealer, commercial bank, etc.). Responsible for providing advice and support for the Combined U.S. Operations Entities (CUSO) Financial Transformation Frameworks, including but not limited to financial reporting controls, balance sheet substantiation and sustainability, centralized general ledger governance.

Responsibilities

Advise and support the implementation of the company wide financial transformation projects:

• Oracle Cloud Shared Services: GL configuration maintenance, managing changes for workflow approval rules (COA rules, hierarchies, journal approval rules), managing period close process, FX processing, create policies and procedures, etc.
• CUSO Balance Substantiation Framework: support the implementation of the remediation action plans to document account ownership, document reconciliation break thresholds and break monitoring process, perform risk ranking, incorporate materiality considerations, manage the aging and write-offs of suspense account, enhance process and control documentations, manage key risks indicators (KRIs) and key performance indicators (KPI), manual adjustments, escalation and certifications, enhance process and control documentations, etc.
• CUSO Financial Controls Framework: support the NY Branch’s daily, monthly, quarterly financial reporting and closing: KRIs/KPIs assessment, variance analysis, managing materiality policy, data quality related issues and non-data quality related issues in compliance with the company-wide Issues Management Procedures and Data Quality Issues Management Procedures, End User (EUC) tools assessment and control requirements, etc.
• Build and develop strategic relationships with key stakeholders

Qualifications and Skills

• Bachelor’s degree in accounting, MBA and CPA preferrable
• 15 years or more public and private accounting experience in financial services.
• Solid knowledge and experience of major U.S. GAAP on securities, loans, leases and derivatives.
• Shared services experience preferrable
• Proven capabilities in project management skills: collaboration, teamwork, communication, time management, leadership, problem solving, critical thinking.
• Extensive experience in financial reporting cycles and functions such as COA maintenance, balance sheet substantiation, account risk ranking, account ownership, balance attestation and certification, balance sheet reconciliation breaks monitoring and remediation, suspense account monitoring and write-offs
• Working experience in creating and monitoring KRIs and KPIs associated with financial reporting and stepping up risk mitigation efforts
• Capable of multi-tasking
• Strong data analytic skills
• Strong MS Excel, MS Word, MS PowerPoint skills

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 t