SMBC
Audit Director - Model Risk
SMBC - Jersey City, New Jersey, United States, 07390
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Overview
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Overview
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
We are looking for an experienced Audit Director who will lead model and model risk audits from the 3LOD and partner with business stakeholders to improve company's governance, risk management and internal controls in model risk management in SMBC Americas Division, with a focus of review of CCAR model governance and controls
Role Objectives: Delivery
Support IAD Management Team in refining and executing the broad audit program that covers all models used in financial and non-financial risk management across SMBC Americas Division.
Assist Model Audit Team Lead with the delivery and execution of IAD's model audit plan and assurance responsibilities. Provide support in preparation of management reports and regulatory presentation.
Conduct or lead internal audits and issue validation according to IIA Standards and internal IAD procedures within prescribed timeframes to support timely management review. Demonstrate a deep understanding of internal audit techniques and audit principles as well as ability to apply internal requirements.
Ensure written and verbal communication of ACRs and individual audit report(s) as assigned conform with IAD NY methodology and incorporate sound judgment.
Oversee and participate in quarterly and annual continuous monitoring / risk assessment process to identify business trends and changes in the business risk profile, and when necessary, propose updates to the audit plan to reflect them.
Identify business process improvement opportunities in assigned audit areas by proposing corrective actions
As needed, assist with special projects related to IAD strategic initiatives.
Role Objectives: Interpersonal Effectively communicate with stakeholder and audit senior management to clearly articulate audit strategy, testing results and corrective measures.
Develop, promote and maintain a collaborative and strong working relationship with AD business heads, external auditors, and regulators.
Support Risk and Lending Business and Functional Head and Model Audit Team Lead to provide support, coaching, and feedback to audit team which may include other junior team members or co-sourced internal audit professionals.
Demonstrate accountability, ownership and sense of diligence over individual tasks and assigned audit areas with limited supervision.
Role Objectives: Expertise Experience and deep knowledge of 1) CCAR and 2) capital markets products
Excellent communication, presentation and professional skills including the ability to interact effectively at all levels within the organization.
Understanding of applicable regulatory standards (including Model Risk (SR 11-7)).
Qualifications and Skills Minimum of 10 years experience in the banking and finance industry or consulting companies, preferably in the 2nd and/or 3rd line of defense roles for model risk
At Least 4 years of hands-on audit experience and familiarity with audit techniques, internal controls, and workpaper standards.
Advanced Degree (Master’s or Ph.D.) in Finance, STEM or other quantitative field.
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.
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Assist Model Audit Team Lead with the delivery and execution of IAD's model audit plan and assurance responsibilities. Provide support in preparation of management reports and regulatory presentation.
Conduct or lead internal audits and issue validation according to IIA Standards and internal IAD procedures within prescribed timeframes to support timely management review. Demonstrate a deep understanding of internal audit techniques and audit principles as well as ability to apply internal requirements.
Ensure written and verbal communication of ACRs and individual audit report(s) as assigned conform with IAD NY methodology and incorporate sound judgment.
Oversee and participate in quarterly and annual continuous monitoring / risk assessment process to identify business trends and changes in the business risk profile, and when necessary, propose updates to the audit plan to reflect them.
Identify business process improvement opportunities in assigned audit areas by proposing corrective actions
As needed, assist with special projects related to IAD strategic initiatives.
Role Objectives: Interpersonal Effectively communicate with stakeholder and audit senior management to clearly articulate audit strategy, testing results and corrective measures.
Develop, promote and maintain a collaborative and strong working relationship with AD business heads, external auditors, and regulators.
Support Risk and Lending Business and Functional Head and Model Audit Team Lead to provide support, coaching, and feedback to audit team which may include other junior team members or co-sourced internal audit professionals.
Demonstrate accountability, ownership and sense of diligence over individual tasks and assigned audit areas with limited supervision.
Role Objectives: Expertise Experience and deep knowledge of 1) CCAR and 2) capital markets products
Excellent communication, presentation and professional skills including the ability to interact effectively at all levels within the organization.
Understanding of applicable regulatory standards (including Model Risk (SR 11-7)).
Qualifications and Skills Minimum of 10 years experience in the banking and finance industry or consulting companies, preferably in the 2nd and/or 3rd line of defense roles for model risk
At Least 4 years of hands-on audit experience and familiarity with audit techniques, internal controls, and workpaper standards.
Advanced Degree (Master’s or Ph.D.) in Finance, STEM or other quantitative field.
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.
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