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Market Risk Management Specialist

Sumitomo Mitsui Banking Corporation (SMBC)
remote work
United States, New York, New York
277 Park Avenue (Show on map)
May 07, 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 $147,000.00and $165,000.00. 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 role's primary function is to execute a Market Risk Governance framework across both Group Companies and also to manage projects to ensure the firm's compliance with regulatory requirements such as CFTC, NFA, FRB, and FRTB requirements. The Market Risk Management Specialist will participate in various aspects of risk oversight and analysis for CM and Nikko, with an emphasis on quantitative market risk and liquidity risk issues. The position is on the trading floor and the work environment is fast paced. The person will have direct contact with front office (traders and marketers). Communication of this activity both internally (e.g. by setting risk policies and internal reporting) and externally (particularly to satisfy regulatory requirements) will be a key aspect of this role.

Role Objectives: Delivery

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    • Demonstrated understanding of various market risk mgmt. practices such as limit monitoring, escalation and remediation procedures
    • Proven track record in managing /understanding risk metrics for various trading desks including credit, rates and FX.
    • Strong financial product knowledge including risk representations such as VAR, stress testing and scenario analysis
    • Strong analytical skills to identify and rectify reporting and monitoring issues effectively.
    • Strong programming skills in data modeling and exploration of data relationships.
    • Proficiency in programming languages such as Python, PowerBI, Visual Basic.
    • Experience and familiarity with tools like Bloomberg API or internal database system interfaces.
    • Familiarity with database management tools, particularly MS SQL
    • Ability to recognize the implications of breaches across risk metrics, data validity and control environment, especially in the context of risk management practices and regulatory submissions.
Qualifications and Skills
  • Approximately 2-5 years' experience in market risk management
  • Strong academic record with Bachelor's degree, equivalent or above in Finance, Mathematics or a related quantitative/analytical discipline preferred
  • Ability to work in a fast-paced environment, balancing multiple high priority deliverables.
  • Ability to effectively communicate with a wide range of stakeholders, both written and verbally regarding key risks in a timely manner
  • Ability to work independently in a self-directed way in a collaborative, team-oriented environment.
  • Ability to lead the development of the risk function across the business and to work collaboratively with other business owners.
  • Technical skills to ensure that repetitive tasks can be executed efficiently and accurately by introducing automated solutions, e.g. scripting and VBA skills
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.

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