Securities Associate

Job Level: Associate

Job Function: Trade Operations

Location:

White Plains, NY, US, 10601

Employment Type: Full Time

Requisition ID: 6626

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 $78,000.00 and $125,000.00. 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 Securities unit is a part of the Treasury Operations group within BCDAD and is responsible for the confirmation, settlement, clearance and reconciliation of securities transactions executed by the bank’s domestic and global offices. Products include certificates of deposit, commercial paper, treasury bills, treasury bonds, tri-party repos and mortgage backed securities.

The Associate is responsible for managing the workflow and approving transactions of the processing specialists. This is a tactical and transactional role whose primary focus is on day-to-day operational execution. Verifies and checks employee processing activities and ensures trades are accurately and timely completed. Acts as 2nd level point of escalation for inquiries from the internal staff. Reports to the Director.

Responsibilities

Manages end-to-end work flow; prioritizes and aligns tasks in accordance with departmental objectives
Ensures all customer and bank guidelines, policies, and procedures are followed as they relate to operations
Assists staff to ensure payment processing is approved and accurate
Approves release of payments
Researches, investigates and resolves failed, mismatched and unmatched trades
Verifies and checks reports generated by the operations staff
Manages, coaches and develops staff; administers the performance appraisal process and employee relations matters
Ensures employee compliance with bank and regulatory requirements and standards of ethical behavior
Participates in Disaster Recovery exercises to ensure smooth recovery of applications in the event of unplanned business disruption

Qualifications and Skills

5 to 7 years of comparable or relevant experience working in a back office operations role for a banking or financial institution
Degree in Accounting, Finance or related discipline is preferred
Knowledge of departmental PPM and Guidelines for Securities Transactions settlements
Knowledge of securities, credit lines, confirmation and settlement process
Knowledge of payments structure through various settlement methods
Operational knowledge of the applications that support back office operations (i.e.,BONY-BDC, Accessedge, OBS, MONTRAN, etc.)
Ability to set priorities, develop a work schedule, monitor staff progress towards goals, and track activities
Excellent verbal, written and interpersonal communication skills
A strong sense of urgency and accountability with exceptional time management skills
Ability to coordinate and communicate with various internal departments across the organization
Forward thinker who seeks to improve business processes that deliver better services

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.