Regulatory Reporting Associate
Jersey City, NJ, US, 07311
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 $83,000.00 and $125,000.00. 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 an Associate position to work in the Bank Accounting Department located in Jersey City, NJ. This position will be responsible for SMBC Nikko Securities America, Inc, a registered broker dealer, which provides investment securities and other financial services to corporate and institutional clients, focusing on North America. The Accounting team oversees financial reporting, regulatory reporting, and management reporting functions. This position will be responsible for daily net capital reporting and preparation of month-end FOCUS and quarterly supplemental reports.
Responsibilities
- Net Capital computations - prepare the daily/monthly Net capital computations 15c3-1 and provide commentary on variances
- FINRA regulatory reports – prepare the following reports
- FOCUS (Financial and Operational Combined Uniform Single)
- SLS - Supplemental Liquidity Schedule
- OBS - The Derivatives and Other Off-balance Sheet Items Schedule
- SSOI - Supplemental Statement of Income
- SIS - Supplemental Inventory Schedule
- Form Custody
- SEC reports – prepare form 17H and 13H
- CIRO- prepare the MFR
- SIPC- prepare the Securities Investor Protection Corporation form 6 and 7
- Projects- assist in special project 15c3-3 (Customer Protection Rule)
- Audit- assist in gathering audit requests for both internal and external auditors
Qualifications and Skills
- Work Experience: 2 to 5 years of specialized experience in Financial Services, 2 + years Regulatory Reporting (broker dealer experience is a strong plus)
- Education: BA/BS required
- Software applications: Microsoft Office Suite (Word, Excel, Visio), Oracle Cloud GL Suite, Broadridge Impact and Axiom
- Strong analytic and critical thinking skills; strong documentation skills; elevated level of urgency, communication skills and deadline driven
- A team member who is collaborative yet able to work independently
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.
Nearest Major Market: Jersey City
Nearest Secondary Market: New York City