Entry-Level Associate Job at SUMITOMO MITSUI TRUST BANK, LIMITED in New York

About the Bank

Sumitomo Mitsui Trust Bank, Limited was established through the merger of The Sumitomo Trust and Banking Co., Ltd with Chuo Mitsui Trust and Banking, Ltd. on April 1, 2012. We are one of the largest asset managers in Asia and number one among Japanese financial institutions by AUM, with approximately $850 Billion USD in AUM. The Bank provides an assortment of financial solutions and manages a broad spectrum of financial products across its global branches.

This role is for Officer level candidates.

Department Overview:

The Americas Division (“AD”) was established in the Sumitomo Mitsui Trust Bank, Limited, New York Branch) (“SMTBNY”) to perform corporate functions and supervise U.S. entities. Established under the AD are the “Global Banking Unit (“GBU”), Americas Division” and “Global Markets Unit (“GMU”), Americas Division” which performs business functions. Acting as back office to the Branch’s Global Banking Unit, Loan Operations Department (“LOP”) is responsible for performing operational and administrative duties for booking and maintaining a wide range of credit-based products upon closing and throughout the life of transactions.

Position Overview:

Follows established guidelines for daily Cash Position and Reconciliation. May be required to use some independent thought to handle complex issues. Focus on execution within defined parameters, some expansion based on developing capabilities or experiences in conjunction with experienced staff.

Duties and Responsibilities:

1. Ensures that all LOP-related cash movements are accurately recorded on the Cash Position Sheet and reported to the Treasury Operations Department and other relevant departments according to procedure.
2. Performs daily nostro reconciliation.
3. Monitors incoming and outgoing LOP-related payments. Investigates cash discrepancies associated with the responsible accounts. Claims compensation when necessary and follows up on reconcilement file in a timely manner.
4. Prepares various reports as requested by the LOP managers.
5. Reports irregularities to the LOP managers on a timely basis.
6. Participates in training as necessary to adequately perform Cash Position or Reconciliation assignments. i.e., inputs entry of credit-related transactions and payments in ATLAS, our general ledger system.
7. Performs other duties and responsibilities as assigned by management.

Knowledge, Skills, and Abilities:

1. Bachelor’s degree or equivalent in business, economics, accounting or its equivalent with 3+ years of related experience.
2. 3+ years of experience in loan operations in a bank. Bilateral loans and syndicated loans experience are required. Agency deal experience is highly desirable.
3. 2+ years of experience in reconciliation.
4. Basic accounting knowledge and good mathematical aptitude.
5. Proficiency with PC in business-related applications, at least for Microsoft Outlook Email and Calendar, Word, and Excel.
6. Good oral and written communication skills.
7. Good organizational skills.
8. Good time management, including punctuality and attendance.

Why you should join SuMi Trust:

SuMi Trust embraces flexible ways of working when the business and role permits. We provide employees with a hybrid working model, allowing for in-office work and work from home. Our diverse and inclusive environment along with our global presence enables us to collaborate and communicate to meet our business needs. We believe that efficient teams need truth, loyalty, and a strong sense of purpose to balance risk and their targets. We make sustainable business decisions to improve our society and the world. We believe that each person brings a unique value that drives the business though their creativity and passion.

• The Employee Benefits package includes: Paid Time Off, medical, HSA, vision, dental, FSA, 401(k), profit sharing, legal plan, cancer indemnity plan, disability insurance, life insurance, employee assistance program, commuter benefits, business travel accident, paid volunteer day, paid memberships, paid seminars, and tuition assistance.
• We offer many socialization opportunities for wellness, financial wellbeing, runs/walks, team building, happy hours, and activities to support the Sustainable Developmental Goals.
• Check out our LinkedIn for our employee experience: https://www.linkedin.com/company/smtbny

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. SuMi Trust 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 when the Human Resources staff reaches out to you for an interview.

The anticipated salary range for this role is listed above. The specific salary offered to an employment applicant is based on the individual’s qualifications, experiences, the job responsibilities, an analysis of the current compensation paid for similar roles in the local geographic area, and key distinctions of the job as compared to current jobs in the Branch. The role may also be eligible for an annual discretionary bonus.