The anticipated salary range for this role is between $190,000.00 and $225,000.00.
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 CCAR Internal Controls position focuses on ensuring that the organization's internal controls relating to the capital planning and stress testing processes, also known as Comprehensive Capital Analysis and Review (CCAR), are robust, effective, and compliant with regulatory requirements.
This role is crucial for maintaining the integrity and reliability of a financial institution's capital planning process, which is a key requirement of the Federal Reserve.
Responsibilities
Developing and implementing internal control frameworks related to capital planning - Reviewing the implementation of internal controls to confirm their effectiveness in mitigating risks associated with CCAR activities.Performing risk assessments specific to CCAR - Assessing the design and operating effectiveness of internal controls related to CCAR.Ensuring compliance with regulatory expectations and internal policies related to CCAR - Collaborating with various departments (e.g., Finance, Risk, Treasury) to ensure adherence to control requirements and timely submission of accurate regulatory reports like the FR Y-14A/Q/M.Reporting and remediation of internal control deficiencies - Identifying, accumulating, and evaluating design and operating control deficiencies and ensuring their remediation; Preparing and presenting detailed reports on control deficiencies and remediation efforts to management and the board of directors.Supporting and training staff on internal control standards and procedures relevant to CCAR - Providing training and guidance to employees on internal control principles, policies, and procedures related to CCAR.
Qualifications and Skills
Bachelor's degree in accounting, finance, or a related field.Professional certifications like CPA or CIA are preferred.10+ years of proven experience in internal controls, auditing, or risk management within the financial services industry, preferably with experience related to CCAR or SOX.Strong analytical, critical thinking, and problem-solving skills to assess risks and evaluate control effectiveness.Strong communication and interpersonal skills to collaborate effectively with various stakeholders and to present findings to management and the board.