Overview
SMBC’s Compliance Department Americas Division (CPAD) is seeking a Compliance Quality Assurance Associate. The Associate-level position will report to the Vice President, Quality Assurance Lead and will support the Monitoring and Testing (M&T) program through the execution of quality assurance reviews.
This role is primarily responsible for ensuring that the M&T Team executes their activities in accordance with established policies and procedures. This responsibility includes ensuring that common standards and consistent practices are being achieved across all compliance monitoring and testing disciplines. The scope of this candidate’s responsibilities includes SMBC’s U.S. wholesale banking operations; U.S. bank holding company; representative offices in Central and South America; and certain non-bank leasing subsidiaries/affiliates.
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
- Execution of quality assurance reviews to ensure that all monitoring and testing workpapers and associated documentation are prepared appropriately to effectively communicate scope and results.
- Identifies deficiencies as part of quality assurance reviews, provides recommendations to remediate findings and validates the M&T Teams’ completed improvements.
- Contributes to the enhancement of quality assurance policies, procedures and templates.
- Assists in creating regular reporting to M&T Teams, senior management and executive-level committees, as applicable.
- Helps develop and assists with the delivery of internal training to address deficiencies identified in the quality assurance process and to ensure that M&T Teams are up-to-date with best practices.
- Records new M&T identified issues in the internal Issue tracking system and conducts a preliminary review of the documentation associated with the remediation of each issue as part of the CPAD M&T Issue tracking process.
- Assists in the annual review of the CPAD M&T policies, procedures and templates to comply with Bank policies and ensure alignment of practices across the M&T Teams.
Qualifications
- 3 to 5 years of Compliance testing experience with coverage of wholesale and retail banking, institutional broker-dealer, and/or BSA/AML laws and regulations.
- Technical competency of applicable laws and regulations (banking, securities and /or swap dealer) for application thereof during monitoring and testing quality assurance reviews.
- Strong written and communications skills to successfully interface with different stakeholders and maintain solid working relationships.
- Maintaining a regulatory compliance risk mindset to understand underlying weaknesses to properly mitigate such risks.
- Strong analytical skills and keen attention to detail.
- Ability to work on multiple assignments independently and reprioritize as circumstances may dictate.
- Proficiency in Microsoft Office programs such as Excel and PowerPoint.
- Fluent in Spanish and/or Portuguese are a plus.