Model Risk Associate
Location :
Jersey City (NJ) , White Plains (NY), New York (NY)
Job Type :
Full-time
Key Responsibilities
Engage with business stakeholders across Americas Division to conduct model attestation processes to ensure completeness and accuracy of the model inventory.
Engage with front office model owner teams to monitor progress of remediation actions to resolve findings and policy exceptions.
Lead effort to continuously improve model identification processes by streamlining existing processes and partnering with other areas within the bank to enhance proactive model identification processes.
Work collaboratively with Model Risk & Validation team to document rationale for model determinations.
Support enhancements to model risk management framework, policy, and procedures.
Support audits and examinations, as well as lead remediation efforts.
Develop and enhance model risk metrics reports and present results to senior management.
Job Descripition
SMBC is seeking a Model Risk Associate with strong quantitative background to join the Model Risk Governance Team within the Model Risk & Validation Group. The Model Risk Governance Team is responsible for maintaining policy and procedures, overseeing model risk reporting, and leading efforts to effectively identify new models. This position will be part of our hybrid workforce model utilizing a combination of in-office and at-home work arrangement.
About Company
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 $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.