Funds Transfer Pricing Associate

Job Level: Associate

Job Function: Governance & Assurance

Location:

New York, NY, US, 10172

Employment Type: Full Time

Requisition ID: 7421

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 $90,000.00 and $135,000.00. 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

This associate, FTP (Funds and Transfer Pricing) role will be responsible for supporting the Bank’s Asset Liability Management (ALM) function including FTP methodology design, implementation, analytics, business communication, forecasting, liquidity stress testing, and Asset Liability Management Committee (ALCO) package preparation. Work varies in nature with changing priorities.

Role Objectives: Delivery

Provide support and analytics to business partners and Head-office on interest and liquidity transfer pricing.
Responsible for the development and maintenance of the Bank’s FTP policy and standards, and methodologies. Be able to identify and resolve technical/modelling issues in the context of ALM and FTP.
Validate FTP models against unit results and forecasted needs.
Analyze liquidity and investment needs over various scenarios considering market / economic / industry trends, and client business cycles.
Coordinate with the team and key stakeholders on maintaining, updating, and improving, where possible and appropriate, the analytics that support the assumptions recalibration process for the FTP methodologies.
Coordinate with all levels of management and other departments to gather, analyze, summarize, and prepare FTP reporting for the ALCO and various other monthly, quarterly, and annual Corporate Treasury related reports.
Prepare position reports, reconciliations, and other accounting support.
Ensure that unit results are consistent with budgeted results and with control thresholds. Manage FTP allocations across the organizations.
Act as SME to implement FTP models in the local FTP platform and communicating features and impacts to business partners across entities.
Adhere to operating policies and procedures and regulatory guidelines and make recommendations within scope of FTP and/or provide input into policy and procedure amendments.
Support the capital plan and stress testing where ALM/FTP perspectives are involved.

Role Objectives: Interpersonal

Collaborate with business partners to understand liquidity and interest rate exposure.
Participate in long- and short-term planning on FTP.
Optimize risk taking through partnerships with risk management.

Role Objectives: Expertise

Demonstrate a deep understanding of the funding needs, liquidity implication, product structures and profitability of the businesses you advise to optimize unit and entity results.
Exhibit a practical hands-on knowledge of transfer pricing mechanisms and capital allocations to optimize the usage of equity.
Be proficient with information technology to better gather and manage data.
Demonstrate advanced analytical / quantitative skills to optimize financial results. Communicate analytical data effectively.

Qualifications and Skills

Minimum 3 years of experience, preferably in the financial services industry.
Understanding of banking concepts, accounting, finance, and economic principles.
Knowledge of bank operations, products, and services.
Detail-oriented with excellent organizational, interpersonal, verbal, and communication skills.
Advanced knowledge of Microsoft Office Suite, particularly Excel
Bachelor’s degree in finance, accounting, mathematics, computer science 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.