Senior Risk Officer

Location Type: On-site

Industry: AB

Company: SUMITOMO MITSUI TRUST BANK, LIMITED

This role is located in New York City and will require a hybrid work schedule of at least 2 days in office per week.

This role is for Senior Vice President level candidates.

About the Bank:

Sumitomo Mitsui Trust Bank, Limited was established through the merger of The Sumitomo Trust and Banking Co., Ltd with Chuo Mitsui Trust and Banking, Ltd. on April 1, 2012. We are one of the largest asset managers in Asia and number one among Japanese financial institutions by AUM, with approximately $850 Billion USD in AUM. The Bank provides an assortment of financial solutions and manages a broad spectrum of financial products across its global branches.

Department Overview:

The Americas Division (“AD”) was established in the Sumitomo Mitsui Trust Bank, Limited, New York Branch) (“SMTBNY”) to perform corporate functions and supervise U.S. entities. Established under the AD are the “Global Banking Unit (“GBU”), Americas Division” and “Global Markets Unit (“GMU”), Americas Division” which performs business functions. Financial Risk Management (“FRM”), as the second line of defense in the Branch, provides independent measurement, monitoring and evaluation services related to Financial Risks (Credit, Market and Liquidity), in addition to the efforts by process/business owners (Global Banking Unit and Global Market Unit) as the first line of defense. FRM establishes appropriate policies, procedures, and the risk management framework to evaluate the financial risks inherent in the Branch operations. FRM also conducts special scenarios analysis to quantitatively and qualitatively assess financial risk faced by the Branch and provides objective assessment of the Financial Risk to the Branch Management and the Head Office. FRM is directly involved in all financial risk related projects, matters and issues.

Position Overview:

Work closely with CUSO entities subsidiaries of SMTB mainly for SMTB New York Branch (“SMTBNY”), Sumitomo Mitsui Trust Bank (U.S.A.) Limited (“SMTBUSA”), and U.S. subsidiaries of Sumitomo Mitsui Trust Group, Inc. (“SMTG”) to enhance risk governance in the Bank Group’s business in the U.S.A. Provide on-site support for assisting the Executive Vice President of the Risk Management function to overseas risk management and to enhance the monitoring of the Bank Group’s compliance with the Bank Holding Company Act. Collect and report information on bank regulatory developments in U.S.A. Define, establish, and facilitate on-site functions of ABMO, for the Bank’s goal mentioned above.

Duties and Responsibilities:

1. Assist the development of a robust and effective oversight function in SMTG Group’s U.S. operations.
2. Responsible for oversight of measurement, aggregation, and monitoring across all risks and compliance related issue and the implementation of and compliance with related policies and procedures in SMTG Group’s U.S. operations (hereafter CUSO).
3. Support the establishment of the CUSO Risk Management Framework, including the proper coverage of all risks and related controls within the parameters of the risk-control framework and oversight of the monitoring and testing of such risk and controls.
4. Responsible to monitor all business risks, and compliance related activities of U.S. subsidiaries of SMTB and U.S. subsidiaries of SMTG.
5. Report findings or implications to the Executive Vice President of the Risk Management Function of the Americas Division.
6. Responsible for improvements of the corporate governance framework for the U.S. business operations based on the Head Office Governance Framework.
7. Responsible for collect relevant information on U.S. banking regulatory developments which might potentially impact SMTG Group’s current and future business operations.
8. Responsible for developing an understanding of the applicable provisions of the U.S. Bank Holding Company Act which apply to SMTB in connection with SMTG Group’s U.S. operations and monitor those SMTG Group entities’ compliance with the Act.
9. Responsible for analyzing and evaluate the implications of regulatory developments on the SMTG Group’s current business operations.
10. Collaborate with General Manager of Americas Division of SMTB in connection with his/her corporate governance and oversight responsibilities in SMTG Group’s U.S. operations.
11. Support to oversee the assigned departments, FRM, ORM, and IRG, to become efficient change processors that are actively engaged in their department needs.
12. Implement and establish new policies and procedures to enhance the function and create a growing, future-forward organization.
13. Manage and minimize enterprise risk management, including market and liquidity risk, credit risk, information security/technology risk, and operational risk on an ongoing basis.
14. Develop the integrated Risk Management Framework for overall risk of the Branch as well as SMTB’s US operations.
15. Develop a business plan and budget for the assigned areas.
16. Perform other duties, as assigned, by the Executive Vice President of the Risk Management Function of the Americas Division.

Knowledge, Skills, and Abilities:

1. Bachelor’s degree in business management or its equivalent with 11+ years of related experience. MBA in risk management or financial analysis preferred.
2. 5+ years of management experience required.
3. Excellent computer skills in Microsoft Office including Excel, Word, and PowerPoint.
4. Experience with X system.
5. Excellent interpersonal skills, good oral and written communication skills.
6. Good organizational and multitasking skills.

SuMi Trust embraces flexible ways of working when the business and role permits. We provide employees with a hybrid working model, allowing for in-office work and work from home. Our diverse and inclusive environment along with our global presence enables us to collaborate and communicate to meet our business needs. We believe that efficient teams need truth, loyalty, and a strong sense of purpose to balance risk and their targets. We make sustainable business decisions to improve our society and the world. We believe that each person brings a unique value that drives the business though their creativity and passion.

• The Employee Benefits package includes: Paid Time Off, medical, HSA, vision, dental, FSA, 401(k), profit sharing, legal plan, cancer indemnity plan, disability insurance, life insurance, employee assistance program, commuter benefits, business travel accident, paid volunteer day, paid memberships, paid seminars, and tuition assistance.
• We offer many socialization opportunities for wellness, financial wellbeing, runs/walks, team building, happy hours, and activities to support the Sustainable Developmental Goals.
• Check out our LinkedIn for our employee experience: https://www.linkedin.com/company/smtbny

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. SuMi Trust 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 when the Human Resources staff reaches out to you for an interview.
The anticipated salary range for this role is listed above. The specific salary offered to an employment applicant is based on the individual’s qualifications, experiences, the job responsibilities, an analysis of the current compensation paid for similar roles in the local geographic area, and key distinctions of the job as compared to current jobs in the Branch. The role may also be eligible for an annual discretionary bonus.