What are the responsibilities and job description for the Model Risk Validation Associate position at Sumitomo Mitsui Banking Corporation – SMBC Group?
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
Document risk model development to standards consistent with regulatory expectation. Validate suitability of models for business purpose and according to internally developed standards. Create and maintain policies and procedures for model development and maintenance. Create a number of backtesting methodologies to ensure models are producing expected results.
Role Objectives: Delivery
Document model development to standards consistent with regulatory expectation. Validate suitability of models for business purpose and according to internally developed standards. Draft policies and procedures for model development and maintenance. Audit policies and procedures. Create a number of backtesting methodologies to ensure models are producing expected results. Help tune models for changes in transaction levels / types, market conditions and risk appetite.
Role Objectives: Interpersonal
Develop relationships with units such as treasury, trading and client-facing functions to better understand the instruments and associated risks in their businesses. Develop relationships with units such as IT to improve data gathering and modeling. Support your unit's work with industry specialists, country risk managers, credit review / analysis staff, and relationship managers to evaluate the efficacy of models. Begin to network within the industry through meetings, events and involvement with trade organizations to better understand emerging risk trends and modeling techniques.
Role Objectives: Expertise
Display a fundamental understanding of financial markets and economics to create a valid set of variables and scenarios. Demonstrate solid modeling skills. Demonstrate a working knowledge of information technology and project management to help create meaningful modeling and analysis. Have a rudimentary understanding of risk management systems across the organization to better develop relevant models. Utilize basic data management skills to improve model accuracy. Use a basic knowledge of auditing and compliance to test the efficacy of models and create backtesting. Communicate analytical data effectively.
Qualifications And Skills
Recommended years of experience: 3
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.
SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.
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
Document risk model development to standards consistent with regulatory expectation. Validate suitability of models for business purpose and according to internally developed standards. Create and maintain policies and procedures for model development and maintenance. Create a number of backtesting methodologies to ensure models are producing expected results.
Role Objectives: Delivery
Document model development to standards consistent with regulatory expectation. Validate suitability of models for business purpose and according to internally developed standards. Draft policies and procedures for model development and maintenance. Audit policies and procedures. Create a number of backtesting methodologies to ensure models are producing expected results. Help tune models for changes in transaction levels / types, market conditions and risk appetite.
Role Objectives: Interpersonal
Develop relationships with units such as treasury, trading and client-facing functions to better understand the instruments and associated risks in their businesses. Develop relationships with units such as IT to improve data gathering and modeling. Support your unit's work with industry specialists, country risk managers, credit review / analysis staff, and relationship managers to evaluate the efficacy of models. Begin to network within the industry through meetings, events and involvement with trade organizations to better understand emerging risk trends and modeling techniques.
Role Objectives: Expertise
Display a fundamental understanding of financial markets and economics to create a valid set of variables and scenarios. Demonstrate solid modeling skills. Demonstrate a working knowledge of information technology and project management to help create meaningful modeling and analysis. Have a rudimentary understanding of risk management systems across the organization to better develop relevant models. Utilize basic data management skills to improve model accuracy. Use a basic knowledge of auditing and compliance to test the efficacy of models and create backtesting. Communicate analytical data effectively.
Qualifications And Skills
Recommended years of experience: 3
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.
SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.
Salary : $95,000 - $150,000
