Risk Model Validation 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 $213,000.00 and $235,000.00.

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.

**JOB SUMMARY:**

Reporting to the Head of Model Risk, the Risk Model Validation Director plays an active role in the implementation of Model Risk Management framework for the Combined U.S. Operations of SMFG by performing independent validation and review of Stress Testing Models.

**SCOPE:**

As part of the Risk Management Department, the Model Risk & Validation department enhances the Model Risk Management framework for the Americas Division to ensure continuous improvement of the model quality and governance.

The Team Lead of Model Validation applies numerical, statistical and qualitative knowledge to perform model validation and measures, monitors and reports model risk from model validation perspectives.

This position provides model validation support to various types of models.

Expertise is required to have great understanding of statistical models, identify issues and limitations, and provide recommendation to enhance existing models.

**PRIMARY RESPONSIBILITIES:**

The job responsibilities are described herein:

+ Conducts model validation and model risk governance across SMBC businesses and group companies.
+ Develops model validation methodology to assess models to confirm the conceptual; soundness of model theory, quality of model implementation, and robustness of model ongoing monitoring.
+ Conducts thorough review on model annual assessment, model changes, and ongoing monitoring results.
+ Develops and maintains documentation, work papers and professional reports of validation results.
+ Communicates findings from validation work to management and stakeholders, including recommendations as appropriate.
+ Ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.

**CRITICAL JOB KNOWLEDGE AND CORE COMPETENCIES / SKILLS**

+ Knowledge and skill set in model validation and model development; and working with large and complex data sets.
+ Ability to apply regulatory requirements outlined in CECL, IFRS9, SR11-7, capital, CCAR, and DFAST, and other regulations and rules to conducting model validation and model governance assignments
+ Strong analytical skills, both quantitative and qualitative.
+ Good problem solver; ability to learn quickly; able to work multiple cross-functional efforts.
+ Effective interpersonal skills, strong communication, especially written.
+ Programming skills: Python, R, SAS, SQL.

**Qualifications and Skills**

Recommended years of experience: 10

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