Regulatory Officer, Associate (Exam Management)
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 $82,000.00 and $140,000.00. 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 Regulatory Relations and Public Policy Group ("RRPP") is dedicated to managing supervisory engagements and advising on governmental and regulatory strategy in support of SMBC's enterprise goals and business strategies. The Regulatory Relations team is the primary contact for regulatory interactions and exam management for U.S. regulators.
Role Description
The Regulatory Officer, Associate works with the Regulatory Relations team to implement and execute SMBC’s regulatory engagement framework and strategy in connection with its supervisory and prudential regulators.
Role Objectives
This role is responsible for supporting regulatory examination and/or advisory services including, but not limited to:
- Participating in all phases of the regulatory examination lifecycle such as responding to entry letters and information request; preparing responses; documentation and presentations; coordinating and documenting key meetings with stakeholders; and recordkeeping and reporting.
- Performing due diligence reviews to ensure the quality of the documentation before submission to the regulators.
- Notifying senior management and other relevant personnel of upcoming examinations and advises on scope, focus and expectations.
- Coordinating routine continuous monitoring meetings with regulators and firm employees to ensure regulatory needs are addressed; documenting the content of meetings and timely communicating to senior management and relevant parties.
- Tracking the status of regulatory inquiries, exams, reviews and findings and circulates information in periodic status reports.
- Maintaining regulatory communications, transmittal letters, management responses, and remediation actions.
- Escalating potential issues observed during or outside the exams and reviews to ensure proper resolution.
- Working closely with all Regulatory Relations team members and assisting with other Regulatory Relations functions as needed.
Qualifications and Skills
- College degree or equivalent required. Graduate, law or business degree recommended.
- At least 3 years of financial services experience at a regulator, bank or law firm. Prior experience with financial services regulator or FBO and/or a background in finance, accounting or risk management is strongly preferred.
- Strong project management skills supporting examinations and regulatory projects for the financial services industry.
- General understanding of financial markets and financial services regulatory requirements.
- Attention to detail with ability to complete work accurately and in a timely manner against strict deadlines.
- Proficient in organizing and tracking progress on multiple tasks and projects with strong follow through and time management skills
- Ability to work independently under moderate supervision.
- Excellent analytical, verbal and written communication skills.
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