Compliance Program Management 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 $80,000.00 and $131,000.00. 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

Reporting to the Director of Compliance Program Management, the Compliance Program Management Associate assists the team with the oversight, implementation, and enhancement of the Financial Crimes Compliance (“FCC”), including BSA/AML/OFAC/Anti-Fraud/Anti-Bribery and Corruption (“ABC”) Risk Assessment Program, focusing on Anti-Fraud and ABC. This role works with stakeholders within the Compliance Department and business partners throughout SMBC to enhance the FCC Compliance Program, and is a liaison between Fraud control owners, Fraud Prevention Officers, internal audit, banking regulators, and Head Office.

Role Objectives

• Establish a comprehensive FCC Risk Assessment framework for the SMBC Group Americas Division identifying the inherent risk of applicable laws/regulations/rules and assessing the efficacy of internal controls to derive residual risk profile.
• Coordinate with key stakeholders to develop and administer control surveys. Maintains effective channels of communication with business and other units to understand fraud risks and internal control mitigants for each area.
• Act as a subject matter advisor to enhance existing FCC Risk Assessment procedures, and processes to ensure compliance with U.S. and international FCC laws and regulations, regulatory guidance and compliance best practices.
• Write comprehensive reports based on inherent risk and controls analysis.
• Assist in the development and expansion of Program Office’s relationships with first line partners and Head Office
• Manage the Risk and Control Self-Assessment (“RCSA”) process and draft reports for BSA/AML Compliance Officer and senior management review
• Develop and manage robust and detailed project plans that may include multiple sub-plans and cross-functional dependencies.
• Manage, coordinate, and track regulatory examinations and internal audit reviews end-to-end to ensure reviews are conducted efficiently and Branch senior management is informed of latest developments.
• Assist with the management of annual staffing needs assessment processes
• Stay abreast of the changing regulatory landscape and updates the Risk Assessment methodology as necessary.
• Assists the FCC Risk Assessment team with other ABC/Anti-Fraud/AML/Sanctions Risk Assessment efforts

Qualifications and Skills

• Minimum of 5-7 years of relevant experience
• Minimum of 3 years of experience in project management with a minimum of 2 years in the financial services industry addressing regulatory issues and optimizing operations
• Bachelor’s or Master’s Degree in relevant discipline (e.g., Accounting, Finance, Banking, Law or other related field)
• Knowledge and understanding of Japanese culture and foreign banks in general is desirable
• Knowledge of banking products and services.
• Strong relationship-building skills
• Extensive experience with, and knowledge of, BSA/AML/OFAC laws, rules and regulations
• Demonstrate strong project management or team leadership skills
• Strong communication and presentation skills
• Strong analytical skills to identify, document, present, and report issue
• Extensive experience with Microsoft Project, Visio, SharePoint and other applications within the Office suite
• Strong reasoning ability; understand complex situations, people and systems needs against backdrop of an ever-changing regulatory environment
• Maintains high level of confidentiality; unquestionable character, integrity, and professionalism
• CAMS certification highly desired

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.