Head of CCAR Internal Controls Director

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 $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.

**Additional Requirements**

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.

SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law.

If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.
EOE, including Disability/veterans

Required Skill Profession

Other General