Managing Director, Financial and Quantitative Risk (Remote)

 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 $300,000.00 and $300,000.00. 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.

JOB SUMMARY:

As SMBC MANUBANK’s Financial and Quantitative Risk Management (FQRM) Managing Director, you will manage a unique role in the 2nd line of defense, reporting directly to the Chief Risk Officer.

You will be responsible for two critical functions:
(1)    Managing the loss provision, credit policy, and risk appetite for the digital-only, direct-to-consumer, “Jenius Bank” product portfolio, launched in 2023.
(2)    Managing the 2nd line risk oversight function over model, liquidity, and market risks – at the bank level – which covers both Jenius Bank and the legacy commercial banking division – managing the risk appetite and defining & monitoring controls over these bank-wide functions.
The position requires a quantitative-minded, data-skilled, hands-on, experienced, self-motivated, curious individual who enjoys looking at the multi-dimensional effects of change – how independent changes can have unexpected impacts on other parts of the bank – and how to build risk controls to identify and mitigate those risks.

The FQRM Managing Director plays a critical role in looking at all financial risks, across both divisions of the bank – consumer and commercial – at a bank-wide level.  The position requires a deep understanding of credit, liquidity, market, model, and financial statement risk management principles, best practices, regulatory requirements, and the ability to work collaboratively with various stakeholders to ensure the bank’s financial risk frameworks are robust and effective.

As MANUBANK is a subsidiary of a global, systemically-important financial institution – SMBC – the position has direct interaction and influence over corporate policy, frameworks, and exposure management – representing MANUBANK’s positions in these corporate-wide endeavors.

PRINCIPAL DUTIES AND RESPONSIBILITIES:

• Develop, approve, and ensure proper implementation of comprehensive policies, procedures, and strategies across the risk taxonomy managed (credit, liquidity, market, model).
• Be responsible for the consumer portfolio loss reserve, provisions, and CECL process, including communication to SMBC executives, bank Board of Directors (Committees), and leadership globally.
• Develop, monitor, and enforce comprehensive, empirically derived, and demonstrably-sound risk limits, some of which are incorporated in the bank’s Risk Appetite Statement, adapting limits as economic and bank performance cycles indicate as prudent.
• Ensure policies are routinely reviewed and well-communicated throughout the organization, that they are adhered to by the 1st line of defense credit organization, and that exceptions are noted in formal approvals.
• Maintain an expert-level knowledge of the financial and regulatory landscapes – local, national, and global influences over drivers that can impact the bank – making adjustments as necessary.
• Design and conduct stress testing and scenario analysis to assess the impact of adverse economic conditions on the various financial aspects of the bank – influencing larger global initiatives given the nuances speci