Vice President, Confirmations

SMBC Group; City of White Plains (NY); Hybrid; USD 132,000 - 170,000; Full time

Benefits offered by this job

Hybrid work model

Job summary

SMBC Group in the United States, New York area, seeks a Vice President of Confirmations to lead the Capital Markets Derivative Operations team, overseeing daily confirmations for derivative trading and supporting group companies in NY, London and Hong Kong.

The role requires 7+ years in financial services with 5+ years in supervision, and a BA/BS in Finance or related discipline. This is a primarily remote position with occasional office attendance in a hybrid work model.

Qualifications

• 7+ years of experience in financial services.
• 5+ years of supervisory experience.
• 3+ years of experience in Confirmations/Documentation.
• BA/BS required; Finance/Accounting discipline preferred.

Responsibilities

• Lead a team of Confirmations professionals to ensure timely dispatch of confirmations and execution with counterparts.
• Identify and escalation breaks as needed.
• Understand and ensure compliance with relevant regulatory requirements.
• Proficiency using various industry-standard platforms and proprietary systems.
• Identify opportunities for process improvements and implement changes to enhance efficiency and accuracy.
• Actively contribute to and test projects related to system enhancements and new industry initiatives and products.
• Maintain accurate documentation for all group-owned controls and processes.
• Act as a liaison for senior management on confirmation-related issues.
• Develop and cross-train team members to effectively manage daily operations and participate in initiatives.

Skills

Leadership

Communication

Regulatory knowledge

Process Improvement

Project Management

Strategic thinking

Education

BA/BS in Finance or related

MBA or CFA preferred

Tools

Microsoft Office

Job description

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 $132,000.00 and $170,000.00. 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 Description

The Vice President of Confirmations will be a senior member of the Capital Markets Derivative Operations team, supporting daily confirmations processes for Capital Markets derivative trading business as well as provide support for the derivative business conducted by group companies in New York, London, and Hong Kong. This role will closely partner with Front Office, Back Office, and IT to deliver on business objectives.

The Derivative Operations group handles operations for Capital Markets and is comprised of 4 key functions: Sales Middle Office, Confirmations, Settlements, and Margin. The Confirmations team actively manages trade-documentation processes while actively monitoring daily risks. The function is focused on remaining current with industry standards and regulations. The team continues to evolve in its risk-mitigation framework and technology agenda.

This is a primarily remote position, with occasional requirements to work from the office.

Role Objectives:

• Lead a team of Confirmations professionals in ensuring timely dispatching of confirmations and execution with counterparts
• Identify and escalation breaks as needed
• Understand and ensure compliance with relevant regulatory requirements
• Proficiency using various industry-standard platforms as well as proprietary systems
• Identify opportunities for process improvements and implement changes to enhance efficiency and accuracy
• Actively contribute to and test projects related to system enhancements and new industry initiatives and products
• Maintain accurate documentation for all group-owned controls and processes
• Act as a liaison for senior management on confirmation-related issues
• Develop and cross-train team members to effectively manage daily operations, provide coverage, and participate in relevant initiatives and projects
• Manage the direction and productivity of the team by establishing clear goals and objectives, setting priorities, and providing guidelines and recommendations for approach to ensure team success. Establish benchmarks and performance milestones for measuring tangible results

Core Competencies/Skills:

• Knowledge of regulatory control and risk frameworks applicable to Operations
• Forward thinker who seeks to improve business processes that deliver better service to stakeholders
• Excellent verbal and written communication skills with ability to articulate concepts and ideas to diverse audiences
• Project-management experience is preferred but not required
• Ability to balance BAU requirements of the role with the ongoing strategic development of the function
• High-level customer service mindset with a commitment to supporting both internal and external stakeholders
• Must have the ability to independently assess a situation and formulate and articulate an approach

Qualifications and Skills

• 7+ years of experience in financial services
• 5+ years of proven supervisory experience
• 3+ years of experience working in Confirmations/Documentation capacity
• BA/BS required
• Degree in Finance, Accounting or related discipline is preferred
• Proficiency in Microsoft Office (Word, Excel, PowerPoint, etc.)

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 [e-mail].