Valuation Control - Director

Job Level: Director

Job Function: Business Partnering

Location:

Jersey City, NJ, US, 07311

Employment Type: Full Time

Requisition ID: 5440

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 $179,000.00 and $221,000.00. 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

Develop and own valuation control methodologies and processes to ensure accurate, independent and timely valuations of financial instruments across SMBC’s risk portfolio. This role will support the development of an enhanced IPV framework and contribute to strengthening of SMBC’s Valuation Control mandate. In doing so, the valuations control team will collaborate closely with its stakeholders including senior management, business heads, product control, market risk, regulators, and both internal and external audit.

Responsibilities

Lead the development of valuation control methodologies and IPV processes across asset classes
Work closely with Product Control to perform and review IPV Results, Valuation Adjustments
Work closely with Front Office Quants to develop Valuation Control platform and capabilities
Address ad-hoc valuation issues and working with Front Office for proper resolution
Monitor pricing quality, valuation exceptions, and assess quality of IPV results
Own/contribute to reporting related, analytical or projects related tasks
Ensure thorough documentation of valuation methodologies and controls, supporting audit processes and regulatory inquires
Lead and support the development and implementation of process improvements, automation initiatives, and best practices in valuation controls

Qualifications and Skills

Bachelor’s degree in accounting, finance, or technical fields preferred
10+ years of experience in valuations and/or product control, risk management, or financial reporting.
Subject Matter Expertise in one or more asset classes, expertise in valuation techniques and modeling
Excellent communication and interpersonal skills, with the ability to interact effectively with stakeholders
Ability to self-learn and navigate

Additional Requirements

D&I Commitment

Responsible for fostering a culture of diversity and inclusion, holding leaders accountable for creating an inclusive environment through awareness and practice of equity in recruiting, developing, and promoting diverse talent.

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.