Head of FCC Monitoring & Testing

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 $230,000.00 and $275,000.00.

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**

Reporting to the Head of Compliance Monitoring & Testing (“M&T”) in the Compliance Department, Americas Division, the Head of Financial Crime Compliance (“FCC”) Monitoring & Testing manages the execution of SMBC's Americas Division FCC testing and monitoring program, with primary focus on BSA/AML, Sanctions, Fraud and Anti-Bribery & Corruption testing.

The role is responsible for overseeing the day-to-day operations and managing a team of compliance professionals performing testing and monitoring activities that assess the design and operating effectiveness of SMBC's controls to mitigate the risks related to BSA/AML, Sanctions, Fraud and Anti-Bribery and Corruption, assess adherence to SMBC's policies, procedures, and processes, as well as applicable laws and regulations applicable to these risk areas.

The Head of FCC M&T will have oversight of a team of compliance professionals to support the execution of monitoring and testing engagements.

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”), sanctions, fraud and anti-bribery & corruption 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.

Strong operational skill set and innovation mindset with awareness of industry best practices is required to enhance the overall program.

The Head of FCC M&T will interact with key stakeholders from various internal bank departments such as KYC, Sanctions, Financial Intelligence Unit, Data Analytics, Program Management, Risk and Control, Anti-Fraud/Anti-Bribery & Corruption, and Internal Audit, in addition to engagement with Head Office Personnel.

**Role Objectives**

+ Manage a team performing FCC M&T over all applicable group companies throughout SMBC's Americas Division.
+ Provide direct oversight of assigned M&T staff and act as a role model for the assigned M&T staff.
+ Work with the Head Compliance M&T to develop a risk-based annual M&T Plan and a detailed schedule of activities to ensure effective tracking of deliverables throughout the year.
+ Work with the Head of Compliance M&T to conduct capacity analysis and resourcing planning to ensure timely delivery of all activities in the FCC M&T Plan.
+ Maintain and ensure timely update to FCC M&T Procedures.
+ Oversee the execution of all FCC M&T activities to ensure timely delivery of all activities in the FCC M&T Plan, in alignment with the quality standards set forth in SMBC AD M&T Policy and Procedures.
+ Present FCC M&T results and related metrics to SMBC’s Senior Management.
+ Proactively identify training opportunities for the FCC M&T staff.
+ Foster a culture of strong partnership with internal stakeholders for the FCC M&T team.
+ 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.
+ Support the Head of Compliance M&T in leading transformation/program enhancements initiatives to keep the program aligned with industry best practices.

**Qualifications and Skills**

+ Strong working knowledge of FCC, particularly BSA/AML and sanctions, laws and regulations, and compliance requirements and standards that impact a global financial services firm such as KYC/client risk rating, transaction monitoring, suspicious activity reporting, client screening/sanctions requirements, and risk assessments.
+ Strong management and leadership skills; experienced manager 10+ years
+ Demonstrated professional maturity and experience managing in complex environments (matrixed organizations, Center of Excellence, regulatory enforcement action, remediation)
+ Strong analytical skills to identify, document, present, and report issues.
+ Strong operational skill set and innovation mindset with awareness of industry best practices for Compliance Monitoring & Testing programs.
+ Understanding of Japanese culture and foreign banks in general is preferred.
+ Expert knowledge of banking products and services.
+ Strong relationship-building skills to manage internal management relationships.
+ Strong reasoning ability; understand complex situations, people and systems needs against backdrop of an ever-changing regulatory environment.
+ Maintains high level of confidentiality, unquestionable character, integrity and professionalism.
+ Strong report writing and oral communication skills.

**Additional Requirements**

Work Experience:

+ 12 + years of specialized experience in Financial Services
+ Minimum 8-10 years of BSA/AML/Sanctions compliance experience (e.g., compliance, internal audit, AML Risk and Control, AML Governance and Oversight, bank regulator).
+ 10+ years of management experience preferred.

Education:

+ BA / BS in a relevant discipline (e.g., Accounting, Finance, Banking, Statistics, Mathematics, or other related field), or equivalent experience.
+ Preferred: MA / MS / MBA

Licenses / Certifications / Registrations:

+ CAMS (Certified Anti-Money Laundering Specialist) certified or other equivalent industry certification is strongly preferred (including but not limited to CFE-Certified Fraud Examiner, CPA-Certified Public Accountant, and Certified Regulatory
+ Compliance Manager-CRCM).

Software Systems / Programming Languages

+ Experience with Microsoft Office Suite, SharePoint

#LI-RCH

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