Director, Counsel - Bank Regulatory
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 $182,000.00 and $260,000.00. 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, Counsel will work within the Legal Department and report to the Managing Director, Associate General Counsel.
Role Objectives
- Provide U.S. bank regulatory advice to business and control functions of the bank and its subsidiaries, including with respect to licensing, authorities, new business activities, investments, trading, and intercompany transactions.
- Advise on applications, reports, and other regulatory submissions to U.S. Federal and State banking regulators.
- Participate in and support the bank’s workstreams relating to resolution planning, capital, liquidity, governance, and other requirements.
- Review and uplift firm policies and procedures relating to banking laws.
- Monitor regulatory developments and evaluate/advise on impact to the bank.
- Engage/manage outside counsel
Qualifications and Skills
- Admission to the New York bar (or clear qualification of eligibility for waiving in from another jurisdiction with which New York has reciprocity) and a member of good standing of such bar.
- At least 8 years of bank regulatory practice at an inhouse legal department of an international banking organization (FBO preferred), a relevant regulatory agency, or law firm.
- Strong working knowledge of laws applicable to FBOs with U.S. operations, including the Bank Holding Company Act, Dodd-Frank Act, International Banking Act, and related Federal Reserve regulations (such as Regulations K, W, Y, and YY) and interpretations; New York Banking Law and related DFS regulations and guidance.
- Familiarity with a broad range of financial products and related legal and regulatory issues. Practical experience with advising clients in a global financial institution.
- Proven skills in legal and regulatory risk management. Ability to see past the question and understand the bigger picture. Ability to balance competing demands and protect institutional interests. Ability to distill complex concepts into clear, concise, practical legal advice.
- Excellent communication skills, both written and oral, including public speaking, technical drafting, and issue-spotting skills. Ability to work under pressure, operate comfortably in a fast-paced, demanding environment, and manage multiple projects with minimal supervision.
- Ability to think creatively and propose solutions.
- Ability to work with people from regions around the world. Cross-cultural sensitivity required. Must be a team player.
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.
We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable 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