Sr Model Validation Specialist

Job Level: Vice President

Job Function: Governance & Assurance

Location:

Jersey City, NJ, US, 07311

Employment Type: Full Time

Requisition ID: 7395

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 $155,000.00 and $195,000.00. 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

Reporting to the Manager, Model Validation Group, the Model Validation Vice President plays an integral role in the implementation of the Model Risk Management framework for NYB and its subsidiaries. The role involves performing independent validation of credit risk and capital stress testing models, with the objective of strengthening model risk governance and enhancing overall model quality.

The Vice President is responsible for documenting model development in accordance with regulatory expectations and internal standards, and for assessing the suitability of models for their intended business purpose. The role also includes supporting the development and review of model-related policies and procedures, conducting audits of adherence to established frameworks, and designing and executing back-testing methodologies to evaluate model performance and ensure results are reasonable, robust, and reliable.

Role Objectives: Delivery

Lead model validation across SMBC businesses and group companies for their intended use and scope, commensurate with the complexity and materiality of the models.
Provide leadership and guidance on model validation methodologies to evaluate conceptual soundness, implementation quality, and the robustness of ongoing model monitoring.
Direct and guide comprehensive reviews of annual model assessments, model changes, and ongoing monitoring results.
Ensure high‑quality validation documentation, including work papers and formal reports, in line with internal standards and regulatory expectations.
Support audits and examinations for credit risk and stress testing models
Communicate validation findings to management and key stakeholders, including clear and actionable recommendations where appropriate.
Ensure business continuity under all conditions, including adverse scenarios, with strict adherence to established guidelines and deadlines.

Qualifications and Skills

Minimum master's or equivalent degree in Statistics, Mathematics, Engineering, Computer Science or related fields.
Hands on experience in model validation and model development; and working with large and complex data sets.
In-depth knowledge in loss reserve, CECL, capital and stress testing models
Strong knowledge of SR11-7, CECL, CCAR, and other regulatory requirements.
Strong analytical skills, both quantitative and qualitative.
Strong written and verbal communication skills, with the ability to present complex information clearly and concisely.
Ability to build and maintain effective working relationships with stakeholders at all levels. Demonstrated ability to work collaboratively in a team environment.
Strong organizational and project management skills, with the ability to manage multiple tasks and priorities simultaneously.

Recommended years of experience: 5-10

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.