Regulatory Reporting Vice President

Sumitomo Mitsui Banking Corporation (SMBC)
remote work
United States, New Jersey, Jersey City
Oct 30, 2024
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 Rail Services LLC, Manufacturers Bank, 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 $122,000.00and $170,000.00. 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 a self-motivated and diligent professional for a full-time position in the Regulatory Reporting Analysis Department. The individual will be involved in the preparation and review of various BHC regulatory reports. Responsibilities Oversees the preparation and review of the FRY 9C, FFIEC009/009a, FRY 9LP, FRY 11, FR2314, TIC reports, and all other US department of Commerce reports including along with related supporting work papers and variance analysis. Interact and work with the group companies/data providers within the firm to ensure integrity of the data, reconcile difference and perform regulatory calculation. Continue to improve the process control effectiveness of the BHC regulatory reports. Maintain and update EUC procedure and inventory list and the desk procedures manual to reflect changes in regulatory requirements. Ensure accurate and timely submission of all regulatory reports to the regulators. Adhere to various control procedures and edit checks to ensure integrity of reported financial results. Support/participate in regulatory reporting examinations, internal and external audits. Develop and maintain effective partnerships with all stakeholders on regulatory related issues to support BHC regulatory reports enhancement projects and work with team to participate in end user testing. Keeping abreast of all the regulatory changes related to regulations that is impacting BHC regulatory reports. Perform impact analysis for all the new products for the BHC regulatory reports Responsible to implement latest quarterly maintenance release into Reg-Reporter/Axiom application Qualifications and Skills Bachelor's Degree in Accounting or Finance is required. CPA or CFA is a big plus. Minimum of 7 - 10 years knowledge and experience in the preparation of regulatory reports of financial institutions Strong knowledge of BHC (e.g. FRY 9C and FFIEC009/009a reports) regulatory reporting requirements and report preparation Strong work ethic and highly motivated individual with outstanding record of professional achievement Strong knowledge on financial products such as derivatives, repo, securities, loans and leases Team- oriented, ability to be proactive in raising concerns, and escalate problems as needed. Strong analytical skills Excel skill set using PivotTables, building formulas, cell formatting, managing large datasets with IF, SUM, VLOOKUP functions and building charts and graphs Knowledge of internal control frameworks Proficiency in Axiom, Alteryx or Power BI is 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. 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.