Overview
The mandate of this role is within the Compliance Issues Management (CIM) team. The candidate will be responsible for supporting the Quality Assurance effort of Compliance-related issues (including audit, regulatory, compliance testing and self-identified issues) to ensure the timely and accurate tracking, closure and reporting of issues at the action level. This role will directly utilize the Americas Division (AD) Issues Tracker and interface with relevant stakeholders.
This role will report into the Compliance Issues Management Quality Assurance VP. This team will be responsible for quality assurance of the compliance issues management process from an A.D. perspective. The primary scope is compliance-related issues (Internal Audit, Compliance, Regulatory, and Self-identified).
The anticipated salary range for this role is between $96,000 and $143,000. 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
- Assist in the development and implementation of a robust quality assurance (“QA”) review process to ensure that compliance-related issues are timely and accurately tracked, verified for closure and reported at the issue action level.
- Ensure that internal procedures that set forth the QA review requirements and processes are properly followed by the QA Team and other relevant stakeholders.
- Assist in reviewing Action Plans to ensure that actions are sufficiently detailed and specific to address and remediate identified issues.
- Request periodic action plan status updates from Issue Owners and provide effective challenge to confirm issue status and identify potential “At Risk” actions and alternative available options if necessary (e.g., Extension Requests).
- Assist in reviewing Issue Closure Packs prepared by Issue Owners to determine that sufficient supporting documentation is provided to justify closure of the issue and underlying action plans.
- Provide guidance and support to CPAD Issue Owners and Managers throughout the action plan development, tracking and closure process and facilitate communication with designated Issue Validators/Challengers in order to ensure timely closure of issues.
- Assist in the design, development and implementation of internal reporting of open compliance-related issues and actions to ensure that information is accurately captured and reported to relevant stakeholders.
- Build strong relationships with key stakeholders including Issue Owners and Managers, Compliance legal entity and vertical heads, and governance/policy owners in order to facilitate intersecting work efforts.
- Provide support for ad-hoc or special projects supporting cross-functional compliance-related frameworks and initiatives in an on-going change environment.
Qualifications
- Functional knowledge of the banking industry and applicable rules, regulations, and processes. Foreign bank experience a plus.
- Strong organizational skills, with proven ability to successfully manage multiple priorities and adapt as necessary.
- Demonstrated interpersonal skills with ability to build partnerships and collaborate with stakeholders at all levels across the business and key functional support areas.
- Detail oriented, with proven ability to question and identify opportunities within existing processes and business practices by leveraging previous experiences and knowledge of the business.
- 5+ years of direct, relevant experience in financial service operations, control, compliance, audit, or regulatory management, including familiarity with regulatory examinations.