Regulatory Reporting Vice President

Sumitomo Mitsui Banking Corporation (SMBC)
remote work
United States, New Jersey, Jersey City
Nov 01, 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 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 $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 Responsible to assist in the development and implementation of an effective financial regulatory reporting control environment for SMBC Americas Holding's Regulatory Reporting. Responsibilities will span the maintenance of an internal control framework designed to mitigate risk, enhance the accuracy of regulatory reporting, and ensure the compliance to applicable US regulatory reporting requirements. Reporting to the Director, Regulatory Reporting Control Governance Lead, of PDAD FAD Controllers, the VP will be responsible for the implementation of a dedicated function to manage the controls across all regulatory reports through a centralized process that serves all regulatory reporting teams. The team will ensure a control discipline is applied with transparency of execution, decisions and implications to the regulatory reports. The administration over the control framework will operate through a governance framework that will include a process runbook which will ensure there is a singular view of the state of regulatory reporting operations, single process of escalation and of audit and regulatory matters. Role Objectives: Delivery Oversees the control governance over all daily, quarterly regulatory reporting processes via runbook management Govern all areas of reg reporting operations Make decisions based on control outcomes, ensuring engagement from all functional areas across SMBC, managing audit, ensuring documentation is up to audit quality, managing the team Establish and manage the reg reporting runbook, monitor the execution and escalation of key issues via appropriate governance, perform post-mortem month end reviews, maintains the overall documentation of the control framework. Bring people to account Manage and clear data exceptions, orphans, and data attestation programs Core part of the control framework team responsible for designing and executing all data quality exceptions to ensure consistent data representation from source into the warehouse and the reporting tools as well as with financial statements produced by the Fin Acctg teams Manage and prioritize efforts to clear data exceptions in partnership with data providers Ensure data validation rules are effective through communication of requirements into technology and data operations as business and reporting requirements evolve Act as 1LOD to determine in quality and timeliness of source delivery Manage the data attestation program Role Objectives: Interpersonal Manage and resolve reconciliations (with sources, with financial reporting) Core part of the control framework responsible for designing and executing all reconciliations to ensure consistent data representation from source into the warehouse and the reporting tools as well as with financial statements produced by the fin accounting teams Manage and prioritize efforts to automate reconciliations Reconciliations would no longer be the responsibility of the reporting team(s) Perform daily and monthly reconciliations at an entity level avoiding current duplicity that exists in the reporting area Reconciliation differences would be adjusted for into the warehouse / reporting tool post reporting teams signoff(s) and in parallel work with the relevant GCs/NYB teams, JRIA and ICDAD to resolve and remediate with objective to minimize ongoing recurring recon issues Data Analytics / Business Intelligence Manage the tactical reporting analytics to serve all reg rep operations through Alteryx and other end-user defined tools to ensure proper and consistent process and documentation Managing the overall training program across all reg rep including effectiveness measures Pursue the roll out of the training program, manage the onboarding of consulting resources as necessary, manage the logistics within SMBC to ensure training is onboarded, manage training metrics, escalate as necessary for non-compliance Role Objectives: Expertise Qualifications and Skills Experience in establishing, implementing controls over fin rep and reg rep 7-10 years knowledge and experience in a reg control environment through managing change processes or through managing controls Strong knowledge on fin products such as derivatives, repo, securities, loans and leases Excellent verbal and written comm skills Knowledge of internal control frameworks 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.