Market Risk Associate

Industry: Governance & Assurance

Company: Sumitomo Mitsui Financial Group, Inc.

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 $95,000.00 and $150,000.00. 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

This role will be hired within CM and will report into CM and SI’s Chief Risk Officer to drive strategic initiatives and governance functions among Market Risk Group. Additionally, the role will have a matrixed reporting line into the Head of Market Risk Governance and Strategy within Market Risk Group, which is part Risk Management Department of Americas Division of SMBC (RMDAD), to drive entity level strategic initiatives and governance as well.

Role Objectives: Delivery

The individual’s primary job responsibilities are to drive market risk planning initiatives across CUSO. The individual is expected to appropriately escalate risk-related matters in a timely manner.

Facilitation of Cross Regional Market Risk Projects including Head Office Communication

1. Assists in the communication with Head Office in Tokyo to build up the consistent market risk governance framework on an SMBC global basis.
2. Assists in performing annual/quarterly/monthly risk governance requirements including risk limit review and assessment, etc. as required by policy/rules.
3. Administer by overseeing all the front office and other risk stripes groups in terms of market risks and seek approval of various risk related limits and reports to SMBC Tokyo and all relevant regulators
4. Helps to drive forward the effective collaboration for global financial regulation and share the relevant information comprehensively.

Role Objectives: Interpersonal

Liaise with:
– CUSO departments, including front office, to maintain and promote a robust risk management framework;
– Daily market risk monitoring team to ensure the monitoring are managed within risk governance framework and are performing as designed; and
– Other risk stripe’s teams (Liquidity Risk, Model Risk, Enterprise Risk etc.) providing risk services to legal entity and head office risk teams.

Communication and Leadership

1. Excellent communication skills, leadership and relationship-building skills to work with internal departments, affiliates, Head Office and regulatory bodies.
2. Expert ability to work collaboratively with internal risk management colleagues and risk management leaders across all subsidiaries and globally.
3. Strong reasoning ability; understands complex situations, people and systems needs against backdrop of managing a risk management environment.
4. Strong analytical skills; great attention to detail.
5. Strong project management skills; ability to work independently

Role Objectives: Expertise

• 35% Strong ownership on various risk related initiatives. Able to work well across functions, ascertain and capture multiple points of view; render information so that it is actionable, and prompt follow up.
• 35%: Good foundational understanding of derivatives and knowledge of risk management framework (e.g. Regulatory Capital, VaR and stress-testing standards, counterparty exposure estimation, documentation and reporting approaches) in the US and Japan
• 20% Excellent written and verbal communication skills and ability to translate these skills to capture content rich issues and drive complex initiatives; masterful in PowerPoint at distilling, rendering and visualizing complex issues in an accessible

Qualifications and Skills

Preferred Previous Work Experience:

• Work Experience: 5+ years of experience in market risk / derivative risk or closely risk-related role.
• Language Skills: Business fluency in English (Japanese is preferred)
• Software Systems / Programming Languages: Working knowledge of VBA, and Microsoft Office Suite

Preferred Education/Licenses/Certifications/Registrations:

• Education: Required – BA / BS

Other Skills, Abilities and/or Training:

• Ability to manage multiple responsibilities at once by focusing on one task while keeping track of others.
• Ability to understand, communicate with, and effectively interact with people across cultures, especially with Expats coming from Japan.

Additional Requirements

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 accommodations@smbcgroup.com.