Credit Portfolio Risk Associate
New York, NY, US, 10172
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 $85,000.00 and $131,000.00. 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 to support the activities of the Risk Management Department Americas Division’s Credit Portfolio Risk team. The person will report to the Director of Credit Portfolio Risk. The Associate will utilize previous experience in Risk Management to play an active role in supporting aspects of SMBC’s Risk & Control Self-Assessment (“RCSA”) process related to credit risk and new business proposals and initiatives for credit risk.
Role Objectives: Delivery
On behalf of the Credit Risk Organization which encompasses: CDAD – Credit Portfolio Risk, Counterparty Credit Risk & Credit Analysis and Planning Group, the Associate will oversee the lifecycle of all aspects of SMBC’s Risk & Control Self-Assessment (“RCSA”) program related to credit risk which includes the following responsibilities:
• Facilitate & conduct RCSA workshops with Subject Matter Experts (SMEs) and relevant stakeholders across the Credit Risk Organization to accurately assess all risk within SMBC’s taxonomy (i.e. define scope, inherent impact and frequency of all in-scope risks and assess/applying mitigating controls as needed).
• Develop and maintain an internal Control Inventory for the Credit Risk Organization by working with relevant stakeholders to ensure all applicable risks are properly mitigated. The Associate will onboard/offboard controls as part of RCSA program and will perform the subsequent testing of applicable controls on an annual basis to assess the adequacy of control design and effectiveness via the GRC tool. The Associate will also work with relevant SMEs to assess the effectiveness of Centrally Designed Controls (CDCs).
• Support the identification, development and ongoing maintenance of Key Risk Indicators (KRIs) based on RCSA results, setting risk thresholds and tracking breaches.
• Confirm and log reportable credit risk related to operational risk events into the GRC tool and support remediation efforts as needed.
• Maintain the Credit Risk Process Inventory, identifying key departmental processes that may be impacted by materialization of associated operational risk events.
Centralize and facilitate timely review and assessment of Functional Representatives (“FR”) of all incoming new business proposals and initiatives for credit risk. The Associate will oversee the lifecycle of proposals including:
• Participate and attend related Intake Call conducted by the proposal owners and provide a subsequent summation email to FRs to manage assessment timelines and ensure our internal credit risk questions have been accurately addressed.
• Involve and inform relevant SMEs from across the Credit Risk Organization and seek their opinion/assessment as needed. Once all relevant feedback is obtained, confirm the final assessment and any related pre/post-implementation conditions with FRs and input into the online assessment platform (SANDO).
• Monitor the status of pending conditions by liaising with the relevant proposal owners and FRs to ensure timely completion of given conditions. Additionally, the New Product Coordinator will work with relevant stakeholders to ensure feasibility of delivering on the given condition and related deadline and subsequently update SANDO with relevant evidence to support closure.
• Implement a new product pipeline for Credit Risk to ensure timely assessment and facilitate working groups and follow-up calls with relevant stakeholders across the Credit Risk Organization, proposal owners and the Strategy & Transformation team to provide transparency and status updates.
Role Objectives: Interpersonal
• Excellent verbal communication and collaboration skills to solicit input and translate feedback into opportunities to improve credit processes and controls.
• Excellent writing and presentation development skills to draft materials related to credit process observations and process and control enhancement opportunities.
• Able to work well across functions, to solicit and capture multiple points of view, render information so that it is accurate and actionable, and promptly follow-up.
• Ability to communicate appropriately at every level of the organization, including credit risk peers, business unit partners and senior executives.
Role Objectives: Expertise
• Strong understanding of credit risk management concepts and knowledge of U.S. and international regulatory requirements and industry best practices.
• Knowledge of the end-to-end lifecycle of and working knowledge of credit risk management frameworks and systems (e.g., 3 lines of defense, risk appetite, risk ratings).
• Experience with credit process management (i.e., approval flows; credit committee process and governance, etc.) related to credit approval and on-going monitoring.
• Strong analytical skills; intellectually curious; problem-solving abilities and the ability to synthesize complex issues; strong attention to detail.
Qualifications and Skills
• 3+ years of experience in the financial services industry
• 2+ years progressive experience in project management
• Experience in global financial services is preferred
Education: Bachelor’s degree in finance or related field
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: New York City