Compliance Monitoring & Testing - FCC Testing Vice President

 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 Description

SMBC's Compliance Department Americas Division ("CPAD") is seeking a Vice President of Financial Crime Compliance (“FCC”) Testing. The Vice President will be responsible for the execution of the testing program. This position will principally serve as a Review Lead for testing reviews within the FCC Testing group, as part of the wider Compliance Monitoring & Testing function.  This role will also support the Annual Plan efforts with the Head of FCC Testing and the Head of M&T and will have coverage for SMBC's Americas Division operations.

The Vice President will perform review leadership and will work with a small team of compliance professionals to support testing engagements to validate the efficacy of regulatory compliance internal controls and processes. The candidate should have functional knowledge of applicable U.S. banking laws and regulations with specific emphasis on Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”), Sanctions Compliance, Anti-Bribery and Corruption (“ABC”), and Anti-Fraud laws and regulations. Additionally, a familiarity of the U.S. regulatory environment, risk identification / mitigation; and managing the workflows for testing engagements is essential.

Role Objectives

• Manages testing activities for all applicable financial crime compliance risks to ensure the accurate and timely execution of all testing deliverables.
• Serves as the examiner-in-charge responsible for all facets of compliance testing engagements.
• Manages ongoing development and refinement of testing scripts.
• Plans engagements and prepares information requests and announcement memos to start Testing Reviews.
• Oversees the execution of fieldwork to validate the efficacy of internal controls.
• Maintains strong communication channels with internal clients throughout the execution of testing engagements, including kick-off and closeout meetings, requests for information, vetting of potential issues.
• Ensures that fieldwork is adequately documented, and issues are properly vetted before the publication of the final testing results.
• Ensures that cohesive workpapers are prepared for each engagement in accordance with department standards.
• Oversees the drafting and publication of formal testing reports to management.

• Oversees 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.

• Supports the consolidation and reporting of results within local and Head Office reporting.
• Develops annual compliance testing schedules with Compliance management.

Qualifications and Skills

• Bachelor’s Degree required; Advanced Degree and/or Certifications is preferred.
• At least 10 years of prior regulatory, compliance testing, audit and/or risk management experience with demonstrated track rec