Regulatory Reporting - Director

Job Level: Director

Job Function: Reporting & Analytics

Location:

Jersey City, NJ, US, 07311

Employment Type: Full Time

Requisition ID: 6954

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 $181,000.00 and $230,000.00. 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

The Director position is an integral member of the Regulatory Reporting Group which is a high-profile function that provides financial information to the Firm’s regulators including the Federal Reserve Bank (FRB). This position will have a high level of visibility within the organization and will work directly with other groups including Internal Audit, Treasury, Risk, Controllers, Policy, IT, and data governance functions. Core responsibilities include the production of high quality financial regulatory reports and development of a control framework to mitigate risk, enhance the accuracy of regulatory reporting, and ensure compliance to applicable US regulatory reporting requirements.

The role is responsible for ensuring a sound regulatory reporting function under a strong internal control framework while ensuring proper compliance to various regulatory reporting standards from supervisory agencies. This position will act as a subject matter expert, articulate goals and objectives, and ensure an internal control framework is in place to support effective controls.

Responsibility

Lead and participate in the review of multiple regulatory filings such as FR Y-15, FFIEC 009, FFIEC 019, FR 2004, TIC and other US Regulatory Reports.
Lead in-depth analysis of variances focusing on products including loans, deposits, derivatives, and securities, incorporating regulatory reporting requirements in order to communicate results to Senior Management and US Regulatory Agencies.
Exceptional verbal and written presentation skills to communicate complex concepts clearly and effectively with Senior Management, Regulatory Agencies and Auditors.
Drive re-engineering and process efficiencies to strengthen controls and improve reporting accuracy.
Keep abreast of industry, regulatory and accounting developments to support the team’s Regulatory Reporting technical development.
Manage, train, mentor and evaluate assigned staff.
Continue to improve the process control effectiveness of the CUSO regulatory reports.
Ensure accurate and timely completion of all regulatory reports.
Support/participate in regulatory reporting examinations, internal and external audits.

Qualifications and Skills

Strong knowledge of FR Y-15, FFIEC 009 and TIC regulatory reporting requirements and report preparation
Minimum 10+ years of financial reporting, audit, and/or regulatory reporting experience at a financial institution
CPA/MBA preferred
Strong knowledge of financial products such derivatives, repo, securities, loans and leases
Knowledge of internal control frameworks
Excellent verbal and written communication skills
Excellent interpersonal and analytical skills
Flexibility to work under pressure to meet changing Regulatory Requirements with strict timelines
Experience with systems implementation and reporting automation transformation process a plus
Experience working directly with FRB examiners a plus

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.