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SalarySMBC 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 $81,000.00 and $132,000.00. 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 Regulatory Officer works with the Governance Regulatory Team within SMBC's Planning Department to assist with the execution of regulatory relations and exam management for SMBC.
This role is responsible for supporting regulatory examinations and providing guidance to regulatory related inquiries, which includes, but is not limited to, the following activities: responding to information requests, preparing documentation or presentations, maintaining regulatory exam and communications records, scheduling, attending and preparing meeting minutes of key meetings with stakeholders, and responding to findings with corrective action. Applies subject matter expertise in the management of exams/reviews and works independently under moderate supervision. Escalates complex or critical matters to supervisors or more experienced staff. Reports to the Director of GPDAD Governance. Has no direct/indirect reports.
Role Objectives
- Notifies senior management and other relevant personnel of upcoming examinations and advises on scope, focus of exam and expectations.
- Reviews document requests and previews with examiners to narrow and define focus of discovery.
- Facilitates the collection of documents before, during, and after on-site examinations review and performs due diligence review to ensure the quality of the documentation before submission to the regulators.
- Coordinates responses to regulatory inquiries to contribute to effective reporting and communication.
- Schedules and attends meetings with regulators and firm employees to ensure regulatory needs are addressed; documents the content of meetings and timely communicates to senior management and relevant parties.
- Follows up related to examination findings, works with relevant business units to ensure remediation plan meets regulatory requirements and improves future examination results; inputs findings into SharePoint and addresses any findings.
- Tracks status of regulatory inquiries, exams, reviews and findings and circulates information in weekly status reports.
- Maintains all regulatory correspondence, transmittal letters, management responses, and remediation action in a central repository.
- Escalates to management and relevant business units on potential issues observed during or outside the exams and reviews to ensure that those may be properly addressed as soon as possible.
- Develops and updates regulatory procedures manual and user manual for regulatory SharePoint sites.
- Develops and maintains project tracking and reporting tools (through SharePoint, Excel, etc.) to facilitate effective and efficient management status reporting.
- Works closely with all regulatory and governance staff and assists with other GPDAD functions as needed.
Qualifications and Skills
- Exam management and strong project management skills supporting exams and regulatory projects for the financial services industry.
- Understanding of financial markets and regulatory requirements for banking business.
- Attention to detail with ability to complete work accurately and in a timely manner against strict deadlines.
- Proficient in organizing and tracking progress on multiple tasks and projects with strong follow through and time management skills
- Excellent analytical, verbal and written communication skills.
- 5 to 7 years of specialized experience in Financial Services
- Financial services industry with 2+ years' experience within Compliance or Governance department in a foreign banking organizatio
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.
