Sumitomo Mitsui Banking Corporation

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

Sumitomo Mitsui Banking Corporation, Americas Division (SMBC) is seeking a Vice President to join the Third-Party Compliance (3PC) team and provide compliance oversight of third-party vendors engaged by SMBC. The role will report to the Director, Third-Party Compliance program lead and will be an individual contributor.

Role Objectives

1. Review inherent risk assessments for vendors to understand the potential compliance risks posed by the engagement and to determine the level of Compliance due diligence required.
2. Establish tailored due diligence questionnaires for applicable vendors, incorporating relevant sections of SMBC’s Compliance due diligence questionnaire, based on services being provided by vendors.
3. Draft written summaries assessing the adequacy of controls that is evidenced through information and documents provided by vendors.
4. Work with vendors, as needed, to obtain additional information or documentation of controls to mitigate risks posed by the service.
5. Work with SMBC’s Third Party Oversight team and Third-Party Operations team to establish additional controls at certain vendors as a condition of the engagement or to establish additional controls at SMBC relating to the services being provided by such vendors.
6. Participate in Third Party Risk Management oversight group and escalate any vendor-related issues.
7. Maintain written procedures and guidance aligned to requirements of SMBC’s third-party oversight policy and standards, including with respect to due diligence and ongoing monitoring.
8. Work with the Third-Party Oversight team on continuous enhancements to third-party risk management framework to ensure it meets regulatory expectations and industry best practices.
9. Remain abreast of the changing regulatory landscape as it pertains to the services provided by third party

Qualifications and Skills

• Bachelor’s Degree required; JD, MBA, or other advanced degree is a strong plus but not required.
• Minimum of 10 years of prior regulatory, compliance, and/or risk management experience.
• Financial services experience with strong knowledge of products and services offered by global banks (e.g., lending, deposits, securities trading, swaps).
• Prior experience working in a third-party risk management role, including conducting due diligence. Knowledge of industry practices with respect to managing risks posed by third-party vendors.
• Ability to assess the compliance risks posed by third party vendors and the adequacy of the vendors’ compliance controls; ability to design remedial actions to address compliance risks, as necessary.
• Strong knowledge of U.S. banking laws and regulations is preferred; familiarity with U.S. securities and swap dealer regulations is a plus.
• Ability to manage multiple projects simultaneously and re-prioritize workloads as necessary.
• Demonstrate strong judgement, political astuteness, and sensitivity to cultural diversity.
• Ability to drive change and build consensus with relevant stakeholders.
• Strong analytical skills to understand project goals and interpret them into meaningful action.
• Strong interpersonal and communications skills (written and verbal) to successfully interface with all levels of management and maintain solid working relationships in a collaborative group environment.

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.