Overview
SMBC’s Compliance Department Americas Division is seeking an Associate of Swap Dealer Compliance Monitoring & Testing (M&T). The Associate is responsible for execution of the M&T program. This position will principally serve as a team member for M&T annual planning and reviews. This role will have coverage for SMBC’s Swap Dealer operations. The candidate should have functional knowledge of applicable U.S. laws and regulations, Additionally, a familiarity of the U.S. regulatory environment, risk identification/mitigation, and managing the workflows for monitoring and testing engagements is essential.
The anticipated salary range for this role is between $79,000 and $128,000. 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
- Supporting examiner-in-charge of Compliance Monitoring and Testing engagements.
- Assists in the development and refinement of monitoring and testing scripts.
- Assists in the preparation of information requests and Announcement Memorandums.
- Performs assigned field work to validate the efficacy of internal controls.
- Prepares cohesive work papers for each engagement in accordance with department standards.
- Identifies underlying issues and escalation/validation thereof with stakeholders.
- Drafts Issue Memorandums and Reports for issuance to management.
- Assists in the registration and tracking of identified issues and corrective action plans.
- Participates in remediation of issues and findings identified during the Compliance Reviews.
- Stays abreast of changing regulatory requirements and SMBC’s business model to maintain a solid foundation of the applicable regulatory framework.
- Assists in the consolidation and reporting of results within local and Head Office reporting.
Qualifications
- 4+ years of swap dealer experience. Will consider candidates with first line control function.
- Has a Compliance Testing, CFTC, NFA examiner or Internal Audit background.
- Strong knowledge of U.S. laws, rules, and regulations pertaining to swaps dealers, including Title VII of the Dodd-Frank Act, CFTC regulations, and NFA rules.
- Able to work independently on projects with little oversight.
- Able to learn quickly and dissect complicated issues within a large and complex financial institution.
- Functional knowledge of swaps and other derivative products.
- Strong verbal and written communication skills.
- Able to multi-task and perform work functions efficiently and timely.
- Motivated and action-oriented.
- Adaptable and able to evolve and change with Bank Transformation.