Team Lead - Comprehensive Capital Adequacy Reporting (CCAR) Audit Manager
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 $202,000.00 and $255,000.00. 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 experienced Audit Executive Director with a minimum of 15 years’ experience in the banking and finance industry to oversee all Comprehensive Capital Adequacy Reporting (CCAR) related activities for Internal Audit. The individual will play an integral role in assessing the adequacy and effectiveness of processes and controls that support the firm's capital planning and capital adequacy activities and will help define the cross-functional CCAR audit strategy and multi-year audit plan. The individual will oversee and coordinate objective assurance activities in line with professional standards and regulatory requirements, providing assessment on company’s risk management, systems of control, and governance processes.
Role Responsibilities
Role Responsibilities:
• Provide Capital Planning and CCAR Program oversight to risk assessments, audit planning and executions, and reporting processes within Internal Audit. This includes providing effective review of annual risk assessments and audit plans for each individual components of the Firm’s capital planning process.
• Lead capital adequacy assessment and capital policy related audits.
• Provide input and oversight over audits of core capital planning audit activities (i.e., risk ID, scenario design, stress testing, PPNR, capital adequacy assessment) and business and risk-management audits that have impact on capital planning (e.g., models, businesses with significant capital risk, liquidity).
• Prepare Senior Management and Board reporting related to the effectiveness of the Firm’s capital planning process for Internal Audit.
• Define audit strategy and develop a multi-year audit plan
• Coordinate with cross-functional audit teams and business stakeholders to identify end-to end capital processes for incorporation in the audit plan.
• Prepare Doc 10 related to Internal Audit’s assurance results for individual components of CCAR and the impact in aggregate for the supervisory submission,
Qualifications and Skills
• Strong understanding of Basel III, capital adequacy frameworks, Risk-Weighted Assets and capital stress testing.
• Comprehensive knowledge and understanding of capital management, Basel regulations, ICAAP, CCAR, stress testing, liquidity risk, and regulatory reporting.
• Strong knowledge of Counterparty and Market Risk capital requirements and risk management.
• Working knowledge of Basel Capital Accords, the US Regulatory Capital Rule (US 12 CFR parts 208, 217, and 225), Regulation H, Q, K, and Y, SR 15-18/9, SR 11-7, SR 12-7, BCC-13-6.
• Audit experience in internal audit, external audit, or risk management preferably within the large financial services industry.
• Certification in one or more of the following: CFA, CPA, CIA, FRM or their equivalent.
• Proven experience in leading audit engagements and managing teams and large projects.
• Excellent verbal, written, and communication skills.
• Bachelor's or Master's degree in accounting, Finance, Economics, or a related field
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