Vice President, Model Risk

Sumitomo Mitsui Banking Corporation•Jersey City, NJ

1d•$103,334 - $113,000•Hybrid

About The Position

SMBC Group is a top-tier global financial group with a 400-year history, headquartered in Tokyo. It offers diverse financial services including banking, leasing, securities, credit cards, and consumer finance, with over 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, one of the three largest banking groups in Japan. In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru, offering commercial and investment banking services to corporate, institutional, and municipal clients, and connecting them to local markets and the Group’s global network. The anticipated salary range for this role is between $103,334.00 and $113,000.00. The specific salary offered will be based on individual qualifications, experiences, and market analysis. The role may also be eligible for an annual discretionary incentive award. SMBC offers a competitive portfolio of benefits to its employees.

Requirements

Master’s degree in Finance, Mathematics, Mathematics of Finance or a related field plus 2 years of experience.
Python
derivative pricing, including interest rate in FS products, interest rate, market risk or liquidity risk model.

Responsibilities

Apply robust model validation methodology to assess the conceptual soundness of model theory, quality of model implementation, and model ongoing monitoring; validate suitability of models for business purpose according to regulatory prescription and internally developed standards.
Effectively challenge identified model risk gaps assessing the model development documentation and communicates findings from validation work to management and stakeholders, including recommendations as appropriate.
Apply mathematical, statistical, and qualitative knowledge and skills to perform model validation tasks.
Document model validation procedures and findings, coordinating with stakeholders to resolve issues; develop and maintain documentation, work papers and professional reports of validation results.
Summarize and presents model validation results and findings to management committee; communicates technical concepts to non-technical audience.