Credit Risk Model Owner

Sumitomo Mitsui Banking Corporation•New York, NY

2d•$85,000 - $131,000•Hybrid

About The Position

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 $85,000.00 and $131,000.00. 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 DescriptionSMBC is seeking a Credit Risk Model Owner Associate to serve as local model owner to monitor and manage credit risk related models for the SMBC Americas Division portfolio. This role is expected to conduct regular model monitoring procedure, finding management, and model governance, communicate with key model stakeholders including Tokyo Head Office, and report to team leads and senior management.Role Objectives: Delivery Conduct model performance monitoring based on monitoring plan and subsequent revisions, communicate with team leads and model validation team Maintain the credit risk related model inventories, work with model validators to prepare the model documentation package, findings remediation, model attestation, etc. Develop internal credit risk rating models collaborating with Tokyo Head Office, Model Validation team and external vendors Lead credit risk model related projects and report it to senior management Periodic monitoring on the use of credit models to identify and examine the need for enhancements of the models and their user guidance including training to model users Enhance model management, governance processes and model documentation standards to improve efficiency and accuracy of model validation process Role Objectives: Interpersonal Communicate with various model stakeholders, including model users, model validators and internal auditors across the bank including Tokyo Head Office Report to team leads and senior management and also lead and train junior members Recommend enhancements to data management process to improve efficiency and accuracy of ongoing performance monitoring Make presentations to senior management and regulators about credit risk related models and make trainings to model users Role Objectives: Expertise Strong knowledge of Model Risk Management framework, regulation and industry practice (Experience related to Credit Risk Rating Model is better) Excellent experience and knowledge as Credit Risk Model Owner including developing credit rating models and documentation Strong presentation skills to create visualized charts/materials for readers including regulators and senior management Demonstrated ability to work independently and successfully manage multiple priorities and stakeholders under pressure Ability to communicate appropriately at different levels of the organization to build collaborative relationships

Requirements

Minimum work experience in model risk management of five years or more such as either model developer, model validator or both (experience related to credit risk rating models is highly desirable)
Major in Probability/Statistics/Financial Mathematics/Computer Science preferred
Master Degree/CFA/FRM preferred
Highly desirable technical and quantitative analysis skills with statistic knowledge and with technical knowledge such as using Excel (VBA), MS Access, SQL, SAS and Python.
Excellent interpersonal and written and verbal communication skills

Nice To Haves

Japanese language skill a plus

Responsibilities

Conduct model performance monitoring based on monitoring plan and subsequent revisions, communicate with team leads and model validation team
Maintain the credit risk related model inventories, work with model validators to prepare the model documentation package, findings remediation, model attestation, etc.
Develop internal credit risk rating models collaborating with Tokyo Head Office, Model Validation team and external vendors
Lead credit risk model related projects and report it to senior management
Periodic monitoring on the use of credit models to identify and examine the need for enhancements of the models and their user guidance including training to model users
Enhance model management, governance processes and model documentation standards to improve efficiency and accuracy of model validation process
Communicate with various model stakeholders, including model users, model validators and internal auditors across the bank including Tokyo Head Office
Report to team leads and senior management and also lead and train junior members
Recommend enhancements to data management process to improve efficiency and accuracy of ongoing performance monitoring
Make presentations to senior management and regulators about credit risk related models and make trainings to model users