Vice President, Model Risk

SMBC; Jersey City (NJ); Hybrid; USD 103,000 - 113,000; Full time

Job summary

SMBC Group in the United States seeks a model validation professional to assess the conceptual soundness of financial models, validate their alignment with regulatory standards, and monitor ongoing performance across its global platform.

You will contribute to documentation, evidence-based decision-making, and collaboration with stakeholders in a hybrid work environment within commuting distance of Jersey City. A strong quantitative background and Python expertise are essential for success.

Qualifications

• Master’s degree in Finance, Mathematics, or a related field with 2+ years of experience.
• Python skills with derivative pricing knowledge across interest-rate, market risk or liquidity risk models.
• The required skill set does not need to be maintained for the full term of the experience.

Responsibilities

• Apply robust model validation methodology to assess conceptual soundness of models and validate suitability for business purpose.
• Challenge identified model risk gaps by reviewing documentation and communicating findings to management with recommendations.
• Apply mathematical and statistical knowledge to perform model validation tasks.
• Document validation procedures, maintain work papers and reports of results.
• Summarize results and present findings to management, translating technical concepts for non-technical audiences.

Skills

Python

Education

Master’s degree in Finance/Mathematics/Finance-related field

Job description

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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 $103,334.00and $113,000.00. 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 Objectives

• 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.

Hybrid remote work permitted.

Qualifications and Skills

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

The required skill set does not need to be maintained over the full term of the required experience.

The role is eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

For benefit information, please see the Careers page

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].