• Job Description

  Req#: 12971

  Overview

  JOB SUMMARYThis role contributes to the overall success of the Compliance Department as a key contributor to the Compliance advisory function of the Americas Division. This position will work directly with the Advisory Team, the first line of defense (“1LOD”) as well as the heads of US Compliance verticals to build a bank regulatory compliance program covering US state and federal banking rules applicable to SMBC including, but not limited to Federal Reserve Act Sections 23A/B and Regulation W inclusive of business process and controls optimization, risk remediation and control enhancement, and regulatory compliance. SCOPEThe CPAD group within SMBC serves as a 2LOD compliance function responsible for overseeing and monitoring the firm's compliance risk. This the VP Advisory Compliance Officer role supports the CPAD Bank Advisory team in building and maintaining a bank regulatory compliance program to help ensure compliance with applicable state and federal banking rules applicable to SMBC branches, representative offices and other entities of SMBC's US operations. The role also involves provding compliance advice and support to business lines who utlize SMBC bank branches and certain other group companies. Incumbents may assist in development and execution of compliance coverage plans, provide compliance advice to support new products or structures, assist in development of compliance/business policies and procedures, as well as oversee various assigned projects to improve efficiencies. Individuals at this level have an understanding of the firm's different businesses and products, as well as the rules to which the areas/products are subject.

  The anticipated salary range for this role is between $137,000 and $178,000. 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.

  Responsibilities

  • Support effort to provide second line compliance coverage of relevant state and federal banking rules (e.g. Regulation W, Regulation D, Anti-Tying, OCC Permissible investments, Regulation Y, US Bank Holding Company Act, etc.).
  • Design, develop, deliver and maintain Compliance Programs, policies and practices as it relates to US banking rules.
  • Identify and assess key compliance risks. Ensure compliance risks are effectively identified, measured, monitored, and controlled, consistent with the bank’s risk appetite statement and all policies and processes established within the risk governance framework
  • Engage with first line business units and support areas to create and maintain applicable controls.
  • Participate in meetings with business unit management to proactively identify emerging issues and discuss related or new regulatory requirements.
  • Assist in drafting responses to regulatory inquiries and assist with responses to information requests and reviews by internal audit and regulators.
  • Participate in development of training material and policies
  • Work closely with other supports units to help create and maintain best practice across the Firm.

  Qualifications

  • Understanding of US banking rules and regulations. Knowledge of general compliance themes - conflicts of interest, fair priciples of trade, conduct risk, etc.
  • Ability to effectively communicate this knowledge and applicability to business units, staff and management of SMBC bank branches, representative offices and certain affiliate companies.
  • Understanding of the products, services and business of Bank branches and affiliates.
  • Ability to build consensus among stakeholders.
  • Attention to detail and discipline to follow up on issues until resolved.
  • Must be well organized with prioritization and project management skills

  Work Experience:

  • 7 to 10 years of specialized experience
  • Regulatory compliance experience at banks or broker dealers.

  Education:

  • Required: BA / BS

  Language Skills:

  • Business fluency in the following language(s): English

• About the company

  Sumitomo Mitsui Banking Corporation Group is a Japanese multinational banking and financial services institution headquartered in Yurakucho, Chiyoda, Tokyo, Japan.

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