Market Risk Governance Specialist

SMBC AD is transforming its market risk coverage into a more integrated and centralized function across its Combined US Operations (CUSO).

Specifically, the Market Risk Groups within SMBC Capital Markets, Inc. (CM) will cover market risk related matters across CUSO. CM is a derivatives trading company which was started in 1988 and is based in New York City, with offices in London and Hong Kong. SMBC CM is an established derivatives dealer with a broad product portfolio, with specific emphasis on interest rates and foreign exchange products such as interest & FX swaps, FRAs, options, exotic products, commodity derivatives as well as exchange traded products such as treasury bonds, interest rate futures & options, currency futures, treasury futures & options, etc

Therefore, CM is seeking a Vice President within its Risk Management Department. The role will report into the Team Lead of the Risk Governance team.

Coverage area for the role will be across all of SMBC CUSO. As the role is centralized into SMBC, the firm's goal is to operationalize a more efficient risk organization in US.

The role is expected to collaborate with various teams in the Front Office, Systems & Technology partners, Finance and Accounting partners, as well as leverage resources in the RMDAD to cover market risk across banking book, derivatives, and securities products. Therefore, it is essential the candidate a team player with great communication skills.

1. Maintains the entity level Risk Governance under CFTC/NFA and FINRA Regulations. Additionally maintains market risk governance framework across CUSO under FRB regulations.
2. Monitors the firms compliance with the Volcker Rule and produces monthly analysis.
3. Assists Group Head in coordinating the New Product Committee process for the Head of Risk Management.
4. Reports updates and outstanding issues related to the NPC.
5. Periodically analyzes the firms Risk Tolerance Limits and Risk Appetite Framework and works with relevant departments to propose updates if needed, and secure approvals from Risk Committees.

Work closely with units such as treasury and client-facing functions to better understand the risks in their businesses and the instruments they handle. Improve modeling techniques and risk framework and understand emerging issues through partnerships with consulting firms and other financial institutions. Establish relationships with rating agencies to help improve modeling and understand emerging trends. Improve workflows and data gathering / sharing through collaborations with units such as finance, compliance, legal and IT. Work cooperatively with industry specialists, country risk managers, credit review / analysis staff and relationship managers to determine and evaluate potential risks and efficacies of policies and procedures. Support long- and short-term planning, new product development, ALM and risk management meetings. Network within the industry through meetings, events and involvement with trade organizations to better understand emerging risk trends. Establish relationships with auditors and regulators to better understand their concerns and reduce potential compliance issues.

Knowledge

1. Strong knowledge of derivatives and their key risks, particularly interest rate and FX products
2. Familiarity with relevant risk concepts and related valuation concepts (e.g. VaR and stress-testing standards, counterparty exposure estimation, liquidity estimation, model assessment and validation, documentation and reporting approaches)
3. In-depth knowledge of U.S. , non-U.S. and international banking laws and specifically Risk Management frameworks and regulatory requirements.
4. Expert knowledge of the Dodd Frank Act, CFTC Rule 23.600, the Volcker Rule, and Swap Dealer registration requirements.

Communication and Leadership

1. Excellent communication skills, leadership and relationship-building skills to work with internal departments, affiliates, Head Office and regulatory bodies.
2. Expert ability to work collaboratively with internal risk management colleagues and risk management leaders across all subsidiaries and globally.

Preferred Previous Work Experience:

• Work Experience: 5+ years of experience in risk governance or closely risk-related role.
• Language Skills: Business fluency in English (Japanese is preferred)
• Software Systems / Programming Languages: Working knowledge of VBA, and Microsoft Office Suite

Preferred Education/Licenses/Certifications/Registrations:

• Education: Required - BA / BS

Other Skills, Abilities and/or Training:

• Ability to manage multiple responsibilities at once by focusing on one task while keeping track of others.
• Ability to understand, communicate with, and effectively interact with people across cultures, especially with Expats coming from Japan

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.