What are the responsibilities and job description for the Model 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 $135,000.00. 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 is seeking a Model Risk Management Associate with a strong project management background to join the Model Risk Management Team. The role is responsible for the execution and delivery of projects in model risk management. Reporting to the Risk Model Validation Executive Director, this person will play a crucial role partnering with stakeholders across the firm including model owners, model developers, IT, audit, senior management and the Board.
Role Objectives
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.
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.
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 $135,000.00. 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 is seeking a Model Risk Management Associate with a strong project management background to join the Model Risk Management Team. The role is responsible for the execution and delivery of projects in model risk management. Reporting to the Risk Model Validation Executive Director, this person will play a crucial role partnering with stakeholders across the firm including model owners, model developers, IT, audit, senior management and the Board.
Role Objectives
- Track multi-year projects in Model Risk Management including regulatory compliance programs, IT and systems development and ad-hoc projects
- Ensure robust change management processes and controls and oversee the creation of closure packages for audit and regulators
- Partner with first line model owners and developers to ensure timely completion of findings and issue and ensure that Model Risk programs are fully aligned with other bank programs that impact model risk.
- Facilitate close partnerships and strong collaboration across the entire firm to ensure the model risk programs are aligned with other bank-wide programs to ensure efficient and effective delivery. Show curiosity and willingness to learn about different units within the firm
- Recommended years of experience: 3
- Understanding of core Model Risk Management concepts
- Familiarity with Audit requirements and production of issue closure packages
- Project Management experience in Banking, especially with respect to regulatory programs (examinations, issue remediation and regular meetings)
- Bachelor's degree in finance, accounting, or business
- Excellent communication (verbal and written), organizational, and interpersonal skills
- Prior experience within a second line of defense function such as Model Risk Management or EUC Risk Management is ideal
- Familiarity with regulations such as SR 11-7 (Model Risk), Basel, CCAR, and SOX is ideal
- Excel and PowerPoint proficiency is ideal
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.
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.
Salary : $95,000 - $135,000
