Overview
SMBC’s Compliance Department Americas Division (“CPAD”) is seeking an Associate for Compliance Monitoring and Testing. This role is responsible for supporting the monitoring and testing program. This position will principally serve as a team member for monitoring and testing engagements. This role will have coverage for Nikko Securities (SMBC’s broker/dealer). The candidate should have functional knowledge of applicable FINRA and SEC 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
- Supports Monitoring and testing Activities for Nikko Securities.
- Serves as a tester for all facets of compliance monitoring and testing engagements.
- Assists in the development and refinement of monitoring and testing scripts.
- Prepares information requests and announcement memoranda.
- Performs assigned field work to validate the efficacy of internal controls and direct oversight of assigned staff and their assignments.
- Ensures that cohesive work papers are prepared for each engagement in accordance with department standards.
- Identifies underlying issues and escalation/validation thereof with clients.
- Drafts issue memoranda and reports for issuance to management.
- Assists in the registration and tracking of identified issues and corrective action plans to validate remediation efforts.
- 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
- Bachelor’s Degree required; Advanced Degree and/or Certifications are desired.
- 4-7 years of prior regulatory, compliance, audit and/or risk management experience with demonstrated track record of increasing management responsibilities.
- Series 7 a plus.
- Financial services experience and knowledge of broker/dealer business, required.
- Strong desire to continually deliver a quality and meaningful work product in a timely and efficient manner.
- Demonstrates sound judgement, political astuteness, and sensitivity to cultural diversity.
- Solid interpersonal and communications skills to successfully interface with all levels of management and maintain solid working relationships.
- Maintaining a regulatory compliance risk mindset to understand underlying risks and weaknesses to properly mitigate such risks.
- Strong analytical skills and attention to detail.