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 $144,000.00 and $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 Description

SMBC's Compliance Department Americas Division ("CPAD") is seeking a Vice President of BSA/AML Compliance Monitoring and Testing. The Vice President will principally lead a team within the AML M&T group.  This role will have coverage for SMBC's U.S. operations.

 

The Vice President will have oversight of a small team of compliance professionals to support monitoring and testing engagements to validate the efficacy of regulatory compliance internal controls. The candidate should have functional knowledge of applicable U.S. banking laws and regulations with specific emphasis on Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) and sanctions laws and regulations. Additionally, a familiarity of the U.S. regulatory environment, risk identification / mitigation; and managing the workflows for monitoring and testing engagements is essential.

Role Objectives Manage Monitoring and Testing (“M&T”) activities for all applicable financial crime compliance risks to ensure the accurate and timely execution of all monitoring and testing deliverables. Serve as the examiner-in-charge responsible for all facets of compliance monitoring and testing engagements including, but not limited to: Manage ongoing development and refinement of monitoring and testing scripts. Plan engagements and prepare information requests and announcement memos to start Compliance Reviews. Oversee the execution of field work to validate the efficacy of internal controls. Maintain strong communication channels with internal clients throughout the execution of monitoring and testing engagements, including kick-off and closeout meetings, requests for information, vetting of potential issues. Ensure that field work is adequately documented, and issues are properly vetted before the publication of the final monitoring and testing results. Oversee the drafting of and publish formal testing reports to management. Oversee the input, tracking, and validation of identified issues and corrective action plans to validate remediation efforts. Stay abreast of changing regulatory requirements and SMBC’s business model to maintain a solid foundation of the applicable regulatory framework. Supports the consolidation and reporting of results within local and Head Office reporting. Develop annual compliance monitoring and testing schedules with Compliance management. Provide direct oversight of assigned M&T staff. Qualifications and Skills Bachelor’s Degree required; Advanced Degree and/or Certifications, is preferred. At least 10 years of prior regulatory, compliance testing, audit and/or risk management experience with demonstrated track record of increasing management responsibilities. Financial services experience and knowledge of wholesale banking products as well as commercial leasing business, preferred. Strong foundational knowledge of U.S. banking laws and regulations with emphasis on BSA/AML and sanctions laws regulations. Excellent written, verbal, and presentation skills; adept at presenting complex issues to senior management. Strong desire to continually deliver high-quality and meaningful work product in a timely and efficient manner. Demonstrates sound judgement, political astuteness, and sensitivity to cultural diversity. Strong interpersonal and communications skills to successfully interface with all levels of management and maintain solid working relationships. Maintains a regulatory compliance risk mindset to understand underlying risks and weaknesses to properly mitigate such risks. Technical competency of applicable laws and regulations and application thereof during monitoring and testing engagements. Strong analytical skills and attention to detail. Ability to manage multiple assignments and reprioritize as circumstances may dictate. Proven management skills and advocating staff development

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.