Vice President, Asset and Liability 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 $117,000.00 and $159,000.00. 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 ALM role will be responsible for supporting the Bank’s Asset Liability Management (ALM) function including forecasting, interest rate risk modeling, funds transfer pricing (FTP), liquidity stress testing, and Asset Liability Management Committee (ALCO) package preparation. Work is varied in nature with changing priorities.
Key Resposibilities
- Responsible for developing and maintaining the Bank’s ALM and FTP model. Be able to identify and independently resolve technical/modelling issues in the context of ALM and FTP.
- Responsible for managing the product modeling methodology changes and supporting annual model validation process.
- Responsible for maintaining, updating, and improving, where possible and appropriate, the analytics that support the assumptions recalibration process for the ALM model.
- Responsible for supporting all aspects of the ALM model including data integrity, process controls, results, and variance analysis. Implement risk analysis tools to allow for deeper understanding of risk drivers and changes.
- Coordinate with all levels of management and other departments to gather, analyze, summarize, and prepare IRRBB metrics for the ALCO and various other monthly, quarterly, and annual Corporate Treasury related reports.
- Create consolidated reporting that includes IRRBB related metrics with consistent aggregation and integration across business lines, legal entities, etc. for the ALCO. Ensure risk reporting is timely and accurate and changes in risk are properly investigated and understood.
- Monitor activities and exposures to ensure adherence to approved policies and limits. Regularly review existing policies and limits, proposing updates and revisions where necessary
- Adhere to operating policies and procedures and regulatory guidelines and make recommendations within scope of ALM and/or provide input into policy and procedure amendments.
Qualifications and Skills
- Minimum 5 years of experience with Interest Rate Risk models such as, QRM or BancWare, including support of balance sheet management functions, preferably in the financial services industry.
- Proficiency with programming languages such as Python, R, Java, MATLAT, and SQL preferred;
- Understanding of banking concepts, accounting, finance, and economic principles.
- Knowledge of bank operations, products, and services.
- Ability to work under limited supervision and direction while managing multiple priorities.
- Detail-oriented with excellent organizational, interpersonal, verbal, and communication skills.
- Advanced analytical and problem-solving skills.
- Advanced knowledge of Microsoft Office Suite, particularly Excel
- Bachelor’s degree in finance, accounting, mathematics, computer science or related field, Graduate degree in finance, economics, or math; MBA, CFA, FRM, PRM and/or specialized degree in financial engineering or similar discipline preferred.
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