Compliance Program Management Vice President- External Fraud Risk Assessment Lead

Company: Sumitomo Mitsui Banking Corporation (SMBC)
Location: Jersey City
Posted on: October 23, 2024

Job 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 $144,000.00and $180,000.00. 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 DescriptionReporting to the Director of FCC Program Management, the FCC Program Management Vice President is supporting establishing and enhancing Financial Crime Compliance ("FCC") Risk Assessments, focusing on External Fraud Risk Assessment. This role involves collaboration across Compliance Departments and business partners throughout SMBC. The Vice President is a liaison between Fraud Department, business lines, internal audit, and the Head Office.Role Objectives

• Establishes a comprehensive External Fraud Risk Assessment framework for the SMBC Group Americas Division identifying the inherent risk of applicable laws/regulations/rules and assessing the efficacy of internal controls to derive residual risk profile.
• Coordinates with key stakeholders to develop and administer control surveys. Maintains effective channels of communication with business and other units to understand fraud risks and internal control mitigants for each area.
• Develops relevant KRIs/KPIs and project management reports to communicate results and manage project timelines.
• Develops and manages robust and detailed project plans that may include multiple sub-plans and cross-functional dependencies.
• Writes comprehensive reports based on inherent risk and controls analysis.
• Stays abreast of the changing regulatory landscape and updates the Risk Assessment methodology as necessary.
• Assists the FCC Risk Assessment team with ABC/AML/Sanctions Risk Assessment efforts.Qualifications and Skills
  • Minimum of 7-10 years of relevant experience
  • Minimum of 3 years of experience in project management with a minimum of 2 years in the financial services industry addressing regulatory issues and optimizing operations
  • Bachelor's or master's Degree in relevant discipline (e.g., Accounting, Finance, Banking, Law or other related field)
  • Knowledge and understanding of Japanese culture and foreign banks in general are desirable
  • Knowledge of banking products and services.
  • Strong relationship-building skills
  • Extensive experience with, and knowledge of Fraud risks, controls, regulatory expectation related to Fraud Program; BSA/AML/OFAC laws, rules and regulations.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 accommodations@smbcgroup.com.

Keywords: Sumitomo Mitsui Banking Corporation (SMBC), New Britain , Compliance Program Management Vice President- External Fraud Risk Assessment Lead, Executive , Jersey City, Connecticut