What are the responsibilities and job description for the Compliance Monitoring & Testing - Swap Dealer Compliance Vice President position at SMBC Group?
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 is seeking a VP of Swap Dealer Compliance Monitoring & Testing (M&T). The VP is responsible for execution of the M&T program. This position will principally serve as a team member for M&T annual planning, monitoring and testing reviews. This role will have coverage for SMBC's Swap Dealer operations. The candidate should have functional knowledge of applicable U.S. laws and regulations, Additionally, a familiarity of the U.S. regulatory environment, risk identification / mitigation, and managing the workflows for monitoring and testing engagements is essential.
Role Objectives
- Serves as the examiner-in-charge responsible for all facets of compliance M&T engagements.
- Assists in the development and refinement of M&T monitoring scripts.
- Prepares information requests and announcement memoranda.
- Performs assigned field work to validate the efficacy of internal controls and direct oversight of assigned staff and their assignments.
- Performs Control Design Effectiveness analysis and review of the applicable rules and regulations.
- Ensures that cohesive work papers are prepared for each engagement in accordance with department standards.
- Identifies underlying issues and escalation / validation thereof with stakeholders.
- Drafts issue memoranda and reports for issuance to management.
- Assists in the registration and tracking 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.
- Participates in the annual risk assessment process of applicable laws and regulations.
- Assists in the consolidation and reporting of results within local and Head Office reporting.
Qualifications and Skills
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.
Salary : $144,000 - $180,000
