Model Validation Director
Jersey City, NJ, US, 07311 White Plains, NY, US, 10601
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 $213,000.00 and $235,000.00. 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 Validation Director with strong quantitative background to join the Trading & Liquidity Model Validation Team within the Model Risk & Validation Group. The Director will lead a team of 5 validators and will be responsible for the independent validation of all derivative pricing, xVA and Counterparty Credit Risk models. This position will be located either in the Jersey City, NJ or White Plains, NY office within the NYC metropolitan area and will be part of our hybrid workforce model utilizing a combination of in-office and at-home work.
Role Responsibilities
People manager who will supervise junior team members in conducting end-to-end validations and reviews of derivative pricing, xVA and CCR models
Applies robust model validation methodology to assess the conceptual soundness of model theory, quality of model implementation, and model ongoing monitoring
Develop and maintain documentation, work papers and professional reports of validation results
Communicates findings from validation work to management and stakeholders, including recommendations as appropriate
Apply mathematical, statistical, and qualitative knowledge and skills to perform model validation
Document model validation procedures and findings, coordinate with stakeholders to resolve issues
Summarize and present model validation results and findings to management committee
Communicate technical concepts to non-technical audience
Qualifications and Skills
Recommended years of experience: 10
Master's Degree or PhD in Finance, Mathematics, Physics, Engineering, Computer Science or related quantitative field with 8+ years of experience.
Experience in derivative pricing (particularly interest rate and FX products), interest rate and xVA/CCR models.
Strong analytical skills, both quantitative and qualitative.
Proficient in programming, especially Python.
Good problem solver; ability to learn quickly; able to work multiple cross-functional efforts.
Effective interpersonal and leadership skills, strong communication, especially written.
Good problem solver; ability to learn quickly; able to work multiple cross-functional efforts.
Effective interpersonal and leadership skills, strong communication, especially written.
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.
Nearest Major Market: Jersey City
Nearest Secondary Market: New York City