Finance Regulatory Policy - Vice President

Company:  SMBC
Location: Jersey City
Closing Date: 08/11/2024
Hours: Full Time
Type: Permanent
Job Requirements / Description

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 $122,000.00 and $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 DescriptionSupport regulatory reporting stakeholders by providing regulatory reporting advice, issuing policy interpretation and guidelines on technical regulatory issues involving our New York Branch, Bank Holding Company, broker/dealer and other affiliates. This is a hybrid role, with current expectation to work in the office twice a week.Responsibility: Rule InterpretationProvide advice to various stakeholders on issues and questions related to regulatory policies, product analysis and application of regulatory reporting requirements, documenting the question and response including underlying rationale and analysis.Demonstrate technical knowledge of regulatory rules for our banks, bank holding and/or broker/dealer, as well as knowledge to challenge data populated in various regulatory reporting reports and schedules, including the main banking and broker/dealers reports (e.g., FRY-9C including schedule HC-R, Call reports, Focus Report, FR 2052a, FRY-15).Collaborate with businesses, regulatory stakeholders and functional areas to resolve emerging regulatory reporting requirements and respond to regulatory reporting questions.Assess the regulatory reporting and capital impact of proposed new products and complex business transactions.Responsibility: Policy Issuance and AdvocacySupport the Development and maintenance of Regulatory Reporting Policies by drafting, analyzing and presenting key rules and interpretations.Draft new policies related to the upcoming Basel III Endgame.Assist in interacting with members of the Federal Reserve and other regulatory bodies on technical regulatory reporting matters, when necessary.Provide technical expertise to draft comment letters in response to new proposed regulations or changes in existing regulations, when applicable.Participate in regulatory reporting and regulatory policy industry forums, discussing capital, liquidity and other regulatory topics.Responsibility: Change ManagementSupport advocacy efforts and the implementation of new regulatory reporting regulations, when applicable.Support Regulatory stakeholders in implementing changes related to Basel III Endgame.Provide training materials on key U.S. regulatory reporting requirements for the Bank.Support large scale projects, collaborate with numerous areas across the firm.Support governance and control requirements related to regulatory capital adequacy and liquidity models.Qualifications and SkillsBachelor’s degree (preferably in Finance, Accounting or Business)5 to 10 years of regulatory reporting, or advisory experience (preferred) in the banking industry.Strong research skills, analytical skills, business writing and presentation skills.Strong knowledge of regulatory capital requirements, including Credit Risk and Market Risk, net capital calculation.Good communication skills, both written and orally, to discuss relevant (complex) topics with senior management or key stakeholdersGood understanding of US GAAPAdditional RequirementsD&I CommitmentResponsible 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

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