Associate, Model Risk

Job Level: Associate Job Function: Reporting & Analytics Location: Employment Type: Full Time Requisition ID: 8006 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 $112,778.00 and $135,000.00. 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 Objectives Conduct end-to-end validations and review of BSA/AML/Fraud models utilizing languages and software including SQL, Python/R and Hadoop. Perform assessment on financial model risk based on conceptual soundness, data quality, model/scenarios design, model usage, model implementation, model performance, model control, and ongoing performance monitoring. Identify financial model deficiencies through validations, communicate issues with model owners and senior management, and provide feasible and adequate recommendations. Develop and maintain documentation templates, testing packages and automation tools and scripts to standardize validation processes. Hybrid remote work permitted. Qualifications and Skills Master’s degree in financial engineering, mathematics or a related field plus 3 years of experience. Special skills: advanced data science & financial data engineering (cleanse/parse/restructure/validate); advanced programming languages, including SQL and Python or R, for statistical analysis, data manipulation, and independent model replication testing; statistical testing methodologies, machine learning techniques, data segmentation methods, and stress and sensitivity analysis; model risk management frameworks, including regulatory guidance such as SR 11 7, and the ability to apply documentation standards for model development, validation, and governance; and strong understanding of the financial services industry and business lines. The required skill set does not need to be maintained over the full term of the required experience. The role is eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees. For benefit information, please see the Careers page 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: Jersey City Nearest Secondary Market: New York City