Sustainability 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 $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.
Company
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.
Role Description
This position sits within SMBC’s Risk Management Department, which is the 2nd line of defense independent risk management function for the bank. As a Sustainability and Climate Risk Management Associate, you will play an important role in the buildout of SMBC AD’s Sustainability and Climate Risk management program. This program supports the bank in its decarbonization transition and physical risk assessment, and to measure and embed sustainability and climate risk considerations throughout the business and risk management. You will support bank’s climate-related financial risk management to meet Federal & State regulatory expectations. You will work with leaders across risk disciplines and business units to develop climate-related financial risk methodologies and analytic tools. You will also help advise senior leaders in Risk, Business, and Regulatory Compliance functions on the operation of their businesses in a manner consistent to SMBC’s climate policies, targets, and goals. Additionally, the role will involve close partnership with the firm’s Technology functions to develop and implement the required systems and processes to support achieving the goal of climate change into all business areas.
Climate-related Financial Risk Management Strategy
Develop and execute the bank's strategy for climate-related financial risk assessment and analytics.
Risk Management
- Utilize data-driven research and analysis to identify, assess, and quantify the financial risks associated with climate change, including both physical and transition risks.
- Collaborate with senior management to integrate climate risk into the bank's overall risk management framework, including integration into Credit, Liquidity, Operational and Market risk, etc.
- Support development of climate-related financial risk appetites including RAS, risk indicators and limits.
- Support development of climate risk materiality matrix.
- Support climate scenario analysis and stress testing, including those embeded in each risk stripe such as Credit, Liquidity, Operational and Market risk.
- Collaborate with risk verticals to ensure climate-related financial risk management strategies are effective and up-to-date.
Data
- Oversee the collection, processing, and analysis of climate-related data.
- Ensure the integration of climate data with existing financial and risk data systems.
Stakeholder Engagement
- Collaborate with internal teams, including credit risk, liquidity risk, operational risk, market risk, and sustainability team, to align climate-related financial risk management efforts.
- Engage with external stakeholders, including regulators, investors, and industry groups, on climate risk issues.
Qualifications
- Education:
- Master’s or Ph.D. in Finance, Economics, Environmental Science, Climate Science, or other quantitative fields. BA/BS with 1+ years’ direct climate-related financial risk management experience will also be considered.
- Experience:
- Knowledge of sustainability and climate risk.
- Knowledge of financial risk especially credit risk.
- Proficiency in relevant software and programming languages, e.g., SQL, Python/R, Power BI, EXCEL VBA, etc.
- Excellent communication, writing and presentation skills.
- Ability to work collaboratively with cross-functional teams.
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