Associate, Initial Margining Modeling

Job Level: Associate Job Function: Reporting & Analytics Location: Employment Type: Full Time Requisition ID: 8190 SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges. In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd. The anticipated salary range for this role is between $95,000.00 and $140,000.00. 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. Role Description We are seeking a highly motivated and detail-oriented Associate to join the Initial Margin modeling team. This role will primarily support the enhancement, implementation and maintenance of the SIMM and the xVA VaR model, with a focus on ongoing monitoring, BAU support, and ad-hoc analysis. This role will also support SIMM and xVA VaR requirements for onboarding new products and collaborate with Risk IT team to implement model changes. This role offers significant exposure to the SIMM and xVA VaR framework and broader enterprise risk management practices. This role requires a strong quantitative and analytical background. Key Responsibilities Participate in semiannual ISDA SIMM upgrade and collaborate with IT for implementation Perform model ongoing monitoring activities (e.g. back-testing), and investigate breaches for any remediation action. Analyze and monitor SIMM and RMA for bilateral transactions, and investigate margin dispute and large day-over-day movements. Assist in the enhancement and ongoing monitoring for the xVA VaR model. Work with IT to perform user-acceptance-testing (UAT) for implementing SIMM and xVA VaR to support new business onboarding. Collaborate with FO, margin operations, risk officers, risk reporting and other stakeholders to improve SIMM and xVA VaR framework. Qualifications and Skills Bachelor’s or Master’s degree in Financial Engineering, Mathematics, Computer Science, Statistics, or a related quantitative field. 2–5 years of experience in SIMM, xVA, market risk or counterparty credit risk. Knowledge of derivatives products (e.g., interest rate swaps, FX derivatives, options), and related valuation fundamentals. Understanding of SIMM and xVA concepts such as VM, IM, RMA, ISDA. Strong analytical, problem-solving and communication skills with attention to detail. Proficiency in statistical programming languages (e.g. Python, SQL), and data visualization tools (e.g. Power BI) etc. Ability to manage multiple priorities and work effectively in a fast-paced and collaborative environment. SMBC’s employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required. SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at [email protected]. Nearest Major Market: New York City