Head of CCAR Internal Controls - Director

Sumitomo Mitsui Banking Corporation • Jersey City, NJ

129d • $190,000 - $225,000

About The Position

The CCAR Internal Controls position focuses on ensuring that the organization's internal controls relating to the capital planning and stress testing processes, also known as Comprehensive Capital Analysis and Review (CCAR), are robust, effective, and compliant with regulatory requirements. This role is crucial for maintaining the integrity and reliability of a financial institution's capital planning process, which is a key requirement of the Federal Reserve.

Requirements

• Bachelor's degree in accounting, finance, or a related field
• Professional certifications like CPA or CIA are preferred
• 10+ years of proven experience in internal controls, auditing, or risk management within the financial services industry, preferably with experience related to CCAR or SOX
• Strong analytical, critical thinking, and problem-solving skills to assess risks and evaluate control effectiveness
• Strong communication and interpersonal skills to collaborate effectively with various stakeholders and to present findings to management and the board

Responsibilities

• Developing and implementing internal control frameworks related to capital planning
• Reviewing the implementation of internal controls to confirm their effectiveness in mitigating risks associated with CCAR activities
• Performing risk assessments specific to CCAR
• Assessing the design and operating effectiveness of internal controls related to CCAR
• Ensuring compliance with regulatory expectations and internal policies related to CCAR
• Collaborating with various departments (e.g., Finance, Risk, Treasury) to ensure adherence to control requirements and timely submission of accurate regulatory reports like the FR Y-14A/Q/M
• Reporting and remediation of internal control deficiencies
• Identifying, accumulating, and evaluating design and operating control deficiencies and ensuring their remediation
• Preparing and presenting detailed reports on control deficiencies and remediation efforts to management and the board of directors
• Supporting and training staff on internal control standards and procedures relevant to CCAR
• Providing training and guidance to employees on internal control principles, policies, and procedures related to CCAR

Benefits

• Competitive salary range between $190,000.00 and $225,000.00
• Annual discretionary incentive award
• Competitive portfolio of benefits

What This Job Offers

• Education Level: Bachelor's degree