Introduction: SMBC Group
SMBC Group is a top-tier global financial group with a rich history that spans over 400 years. The Group’s headquarters are in Tokyo and it offers a wide range of financial services including banking, leasing, securities, credit cards, and consumer finance. SMBC Group operates with more than 130 offices and employs over 80,000 staff worldwide across nearly 40 countries. The Group is one of the three largest banking groups in Japan, with Sumitomo Mitsui Financial Group, Inc. (SMFG) acting as its holding company. SMFG’s shares are traded on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.
SMBC Group’s Presence in the Americas
In the Americas, SMBC Group has a presence in several countries including the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. The Group is backed by the capital strength of SMBC Group and its valuable relationships in Asia. The Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. SMBC Group connects a diverse client base to local markets and its 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.
Salary and Compensation at SMBC Group
The anticipated salary range for this role is between $145,000.00 and $185,000.00. The specific salary offered to an applicant is 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 and Objectives
Sumitomo Mitsui Banking Corporation (“SMBC”) is seeking a Vice President to join the Treasury Risk Management group for the Interest Rate Risk in the Banking Book (IRRBB) & Portfolio Mark-to-Market (MTM) Risk oversight. The Treasury Risk Management group is a risk function within the Risk Management Department Americas Division (RMDAD) that oversees the treasury risks and balance sheet strategy of SMBC branches and subsidiaries in the region. The group provides risk oversight that extends to liquidity risk, interest rate risk in the banking book, and capital management, and independently assesses business strategies that impact these risks. The Vice President within the IRRBB & Portfolio MTM Risk Oversight team will play a key role within the organization and will be part of a small team with a mandate to oversee IRRBB and Portfolio MTM risk for the ~$300B combined balance sheet across different legal entities and jurisdictions in the region.
The role involves performing ongoing independent oversight of the IRRBB and Portfolio MTM risk exposures for SMBC branches and legal entities in the Americas region. The Vice President will also support independent assessment of balance sheet and risk management strategies and ensure timely escalation of risk issues and limit breaches to senior management. They will also support and participate in engagements with local regulators in the region.
Qualifications and Skills
The ideal candidate for this role should have 5+ years of IRRBB and Portfolio MTM risk experience in the first- or second-line groups of U.S. banks or FBOs. They should also have a strong understanding of balance sheet products and risks, including the products’ impact on IRRBB exposures. Familiarity with U.S. regulatory requirement for IRRBB (e.g., SR 96-13, SR 10-1, SR 16-3) and international standards is also required. The candidate should be well-organized, structured and able to deliver under tight deadlines while managing a variety of projects simultaneously. Excellent verbal and written communication skills are a must.
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 [email protected].
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