Sumitomo Mitsui Financial Group, Inc.
Counterparty Credit Risk Associate
Sumitomo Mitsui Financial Group, Inc., New York, New York, us, 10261
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 $80,000.00 and $135,000.00. 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
Based on the growth in the CM business, CM is looking to expand Counterparty Credit Exposure Analysis and Risk Management function. CM is searching for a candidate with strong quantitative background to serve as an associate within counterparty credit risk exposure analysis and risk management. The role's primary function is to perform counterparty credit risk management and reporting with a core focus on reviewing and analyzing top exposures, stress testing results, concentration reports, risk appetite reports, and other key risk indicators. The candidate will perform ongoing counterparty surveillance, risk monitoring, project work focused on enhancing the reporting framework, and working closely with front office on estimating PFE/EPE exposures.
The risk management department is responsible for market, model, liquidity, credit, foreign exchange, operational and legal risks associated with SMBC-CM Inc's business and manages those risks directly or through each related departments and groups. The department is organized into four functional groups - Credit Risk Group, Market Risk and Analytics Group, Model Risk Group, and the Operational & Regulatory Risk Group. The Credit Risk Group maintains sound credit management activities liaising where necessary with other departments to review and assess credit risk, monitor credit exposure, and provide guidance on credit limits in accordance with policies and procedures.
Within the Credit Risk Group, the counterparty credit risk team performs risk exposure analysis and risk monitoring.
Role Responsibilities:
Review top 20 counterparty exposures and collateral balances
Assist the front office sales and trading team on estimating counterparty credit exposures on new deal activity.
Monitor and review XVA limit framework and risk sensitivity profile.
Monitor CCR analytics for large DoD and MoM moves in PFE/EPE, Mark to Market, and Credit Exposure.
Participate in special projects focused on enhancing the Counterparty Credit Risk System (CRISTAL)
Performing UAT and regression testing on all Counterparty Credit Risk system enhancements.
Provide month-end commentary for large moves in top 20 exposures, for industry/country exposures, for product exposure analysis across IR, FX and Repo transactions.
Provide CCR slides for senior management discussion and committees (GRMC, RMC etc.)
Perform Wrong Way Risk analysis for counterparties and enhance existing WWR framework
Oversees production of daily counterparty credit exposure reports for accuracy and comprehensiveness.
Analyze interrelationships across risk sensitivities, market to market values, and Counterparty Credit Risk exposures.
Address data integrity problems that impact the accuracy of the risk analytics or Counterparty Credit Risk profile.
Qualifications and Skills
Minimum 4+ years of experience in either counterparty credit risk, market risk, product control, or pricing and valuation function.
Bachelor's degree in quantitative field such as finance, mathematics, engineering, physics, computer science, or statistics. Masters degree is a plus.
Strong knowledge and understanding on the pricing and valuation of Interest Rate Swaps, Foreign Currency Products, and REPOS.
Knowledge of Delta/Gamma, VaR, and Counterparty Credit Risk Metrics (PFE/EPE)
Ability to understand counterparty portfolio level risk and its impact on mark to market values.
Experience in working with internal developers, data sourcing teams and external vendors to drive development of CCR analytics, system infrastructure and overall CCR framework.
Strong written and oral communication skills are essential.
Strong technical skills in Excel and PowerBI. Python is a plus.
Ability to work in a team environment and independently.
Strong collaboration skills to work with different stakeholders and builds positive relationships to drive mandates for the team and organization.
Self-starter with ability to multi-task and to maintain momentum through the course of assigned tasks.
Be very hands-on to use available data for analysis and very diligent to build consensus with different stakeholders to drive decision making
Progress towards CFA and/or FRM certification preferred.
Additional Requirements
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.
We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.
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 $80,000.00 and $135,000.00. 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
Based on the growth in the CM business, CM is looking to expand Counterparty Credit Exposure Analysis and Risk Management function. CM is searching for a candidate with strong quantitative background to serve as an associate within counterparty credit risk exposure analysis and risk management. The role's primary function is to perform counterparty credit risk management and reporting with a core focus on reviewing and analyzing top exposures, stress testing results, concentration reports, risk appetite reports, and other key risk indicators. The candidate will perform ongoing counterparty surveillance, risk monitoring, project work focused on enhancing the reporting framework, and working closely with front office on estimating PFE/EPE exposures.
The risk management department is responsible for market, model, liquidity, credit, foreign exchange, operational and legal risks associated with SMBC-CM Inc's business and manages those risks directly or through each related departments and groups. The department is organized into four functional groups - Credit Risk Group, Market Risk and Analytics Group, Model Risk Group, and the Operational & Regulatory Risk Group. The Credit Risk Group maintains sound credit management activities liaising where necessary with other departments to review and assess credit risk, monitor credit exposure, and provide guidance on credit limits in accordance with policies and procedures.
Within the Credit Risk Group, the counterparty credit risk team performs risk exposure analysis and risk monitoring.
Role Responsibilities:
Review top 20 counterparty exposures and collateral balances
Assist the front office sales and trading team on estimating counterparty credit exposures on new deal activity.
Monitor and review XVA limit framework and risk sensitivity profile.
Monitor CCR analytics for large DoD and MoM moves in PFE/EPE, Mark to Market, and Credit Exposure.
Participate in special projects focused on enhancing the Counterparty Credit Risk System (CRISTAL)
Performing UAT and regression testing on all Counterparty Credit Risk system enhancements.
Provide month-end commentary for large moves in top 20 exposures, for industry/country exposures, for product exposure analysis across IR, FX and Repo transactions.
Provide CCR slides for senior management discussion and committees (GRMC, RMC etc.)
Perform Wrong Way Risk analysis for counterparties and enhance existing WWR framework
Oversees production of daily counterparty credit exposure reports for accuracy and comprehensiveness.
Analyze interrelationships across risk sensitivities, market to market values, and Counterparty Credit Risk exposures.
Address data integrity problems that impact the accuracy of the risk analytics or Counterparty Credit Risk profile.
Qualifications and Skills
Minimum 4+ years of experience in either counterparty credit risk, market risk, product control, or pricing and valuation function.
Bachelor's degree in quantitative field such as finance, mathematics, engineering, physics, computer science, or statistics. Masters degree is a plus.
Strong knowledge and understanding on the pricing and valuation of Interest Rate Swaps, Foreign Currency Products, and REPOS.
Knowledge of Delta/Gamma, VaR, and Counterparty Credit Risk Metrics (PFE/EPE)
Ability to understand counterparty portfolio level risk and its impact on mark to market values.
Experience in working with internal developers, data sourcing teams and external vendors to drive development of CCR analytics, system infrastructure and overall CCR framework.
Strong written and oral communication skills are essential.
Strong technical skills in Excel and PowerBI. Python is a plus.
Ability to work in a team environment and independently.
Strong collaboration skills to work with different stakeholders and builds positive relationships to drive mandates for the team and organization.
Self-starter with ability to multi-task and to maintain momentum through the course of assigned tasks.
Be very hands-on to use available data for analysis and very diligent to build consensus with different stakeholders to drive decision making
Progress towards CFA and/or FRM certification preferred.
Additional Requirements
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.
We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.