Job Information
SMBC Head of Conflict of Interest Management - ED in New York, New York
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 Rail Services LLC, Manufacturers Bank, 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 $233,000.00 and $259,000.00. 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 Head of Conflict of Interest (CoI) management for the Compliance Department plays a pivotal role in ensuring the robust CoI management and oversight of SMBC Americas Control Room (CR).
The successful candidate will be a strategic thinker with a strong background in Compliance within the financial services industry, demonstrating exceptional leadership and an ability to navigate complex regulatory environments. As part of the Compliance Department’s leadership team, this role requires a proactive approach to managing CoI and CR needs and enhancing our compliance framework to meet the evolving demands of our operations.
Role Objectives
Manage Conflicts of Interest : Oversee the implementation of the SMBC Americas framework for managing conflicts of interest, ensuring compliance with regulatory expectations. Maintain policies and procedures and controls to ensure CoI framework meets regulatory expectations.
Oversee CoI managed by the CR for the business lines. Review potential employee conflicts, including Outside Business Activities, Personal Trading and Email Communications. Conduct regular meetings with business unit management to pro-actively identify emerging business issues and discuss related or new regulatory requirements.
Interface with regulators and Internal Audit during compliance related examinations and audits related to the CR. Research and draft responses to regulatory inquiries. Provide advice on regulatory and compliance requirements to business unit management and staff so that they may conduct their business in conformance with regulatory requirements. Ensure that regulatory guidance establishes a reasonably designed supervisory system.
Control Room Oversight : Oversee day-to-day Control Room framework execution, fostering continuous enhancement. Work with Americas Compliance Group Companies to centralize CR risk management policies, procedures and activities where appropriate to lead a coordinated effort throughout the Americas organization and Head Office.
Drive Engagement with Stakeholders : Build and maintain relationships with senior management, business units, and external parties. Offer expert compliance advice, advocate for cooperative risk management, and contribute to the strategic alignment of business goals with regulatory practices.
Qualifications and Skills
Education: Bachelor’s degree required; advanced degree preferred.
Experience: Minimum of 15 years of experience in Compliance roles within the financial services industry, with at least 5 years in a senior management or leadership position.
Knowledge of Regulatory Environment: In-depth knowledge of the regulatory environment impacting the financial services sector, including understanding of laws, regulations, and guidelines related to Compliance.
Strategic Thinking and Leadership Skills: Demonstrated ability to lead teams, develop and implement strategic initiatives, and manage departmental functions effectively.
Analytical and Problem-Solving Skills: Strong analytical abilities and problem-solving skills, with the capability to work well with complexity and ambiguity.
Communication and Interpersonal Skills: Excellent communication and interpersonal skills, with the ability to engage effectively with internal and external stakeholders at all levels.
Organizational and Project Management Skills: Proven organizational and project management skills, with the ability to manage multiple priorities and projects in a dynamic and fast-paced environment.
Additional Requirements
D&I Commitment
Responsible for fostering a culture of diversity and inclusion, holding leaders accountable for creating an inclusive environment through awareness and practice of equity in recruiting, developing, and promoting diverse talent.
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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.
We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.