Compliance Department - Internal Controls and Risk Assessment, Associate
Full Time
New York, NY 11205
$81,000 - $132,000 a year
Posted
Job description
Overview:
The candidate must have functional knowledge of either U.S. securities/commodities laws and regulations (SEC, CFTC, FINRA). The candidate should have experience with data analytics and visualization, including preparing heat maps and charts based on Excel or similar applications.
This role is a high-visibility, high-exposure role with the opportunity to present to senior-level management across SMBC.
The anticipated salary range for this role is between $81,000 and $132,000. 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. Responsibilities:
SMBC Group is seeking an Associate for the Compliance Risk Assessment team (CRA team) within the Compliance Department Americas Division. This role will report to the Director who serves as the Compliance Controls Inventory program leader and will assist in managing a comprehensive compliance risk assessment framework to ensure internal controls are identified, documented, and assessed in order to address applicable laws/regulations. This role will also participate in all aspects of the Compliance Risk Assessment, including analyzing data and determining the appropriate risk and control ratings for specific business lines across SMBC.
The candidate must have functional knowledge of either U.S. securities/commodities laws and regulations (SEC, CFTC, FINRA). The candidate should have experience with data analytics and visualization, including preparing heat maps and charts based on Excel or similar applications.
This role is a high-visibility, high-exposure role with the opportunity to present to senior-level management across SMBC.
The anticipated salary range for this role is between $81,000 and $132,000. 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.
- Assist the Compliance Controls Inventory Team Leader in reviewing policies, procedures, and document controls across SMBC designed to address regulatory requirements.
- Work with CRA team to conduct compliance risk assessments of various U.S. entities, including SMBC’s broker-dealer, swap dealer, and bank branches.
- Partner with control owners to update their list controls, analyze the need to develop additional internal controls, review existing controls, and assessing whether control enhancements are required.
- Analyze the CRA results to identify key control gaps. Work with relevant stakeholders to design management action plans to address any key control gaps identified during the course of the CRA cycle.
- Assist CRA team in analyzing and aggregating data, as well as creating presentations for senior management, including heat maps or charts reflecting Compliance Risk Assessment (CRA) results; develop risk dashboards designed to identifies the regulatory compliance risk profile on an ongoing basis.
- Assist with the continuous enhancements to the design of the CRA framework for the SMBC Group Americas Division.
- Bachelor’s Degree required; minimum of 5 years of prior regulatory, compliance, and/or risk management experience.
- Familiarity with U.S. securities/swaps regulations (SEC, CFTC, FINRA) required; familiarity with U.S. banking laws and regulations (FRB, CFPB) is required.
- Experience with data analytics and/or data visualization is a strong plus (e.g., analyzing and aggregating data, creating heat maps based on CRA ratings).
- Experience in reviewing policies and policies and documenting controls that meet minimum standard requirements.
- Experience conducting Compliance Risk Assessments either as a subject matter expert providing ratings or as a member of a CRA team is a strong plus (but not required).
- Ability to manage multiple projects simultaneously and re-prioritize workloads as necessary.
- Strong analytical skills to understand project goals and interpret them into meaningful action.
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