Interest Rate Risk Management Jobs (NOW HIRING)

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 $145,000.00 and $185,000.00. 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
Sumitomo Mitsui Banking Corporation ("SMBC") is seeking a Vice President to join the Treasury Risk Management group for the Interest Rate Risk in the Banking Book (IRRBB) & Portfolio Mark-to-Market (MTM) Risk oversight.
The Treasury Risk Management group is a risk function within the Risk Management Department Americas Division (RMDAD) that oversees the treasury risks and balance sheet strategy of SMBC branches and subsidiaries in the region; the group provides risk oversight that extends to liquidity risk, interest rate risk in the banking book, and capital management, and independently assesses business strategies that impact these risks. The mandate of the group is to ensure that all treasury risks are adequately identified, measured, controlled, monitored and reported.
The group works closely with the SMBC risk management department in Tokyo Head Office that oversees the consolidated SMFG $2+ Tr. balance sheet risks.
The Vice President within the IRRBB & Portfolio MTM Risk Oversight team will play a key role within the organization and will be part of a small team with a mandate to oversee IRRBB and Portfolio MTM risk for the ~$300B combined balance sheet across different legal entities and jurisdictions in the region.
The position requires technical expertise in interest rate risk management and portfolio MTM risk, valuation methodologies, and regulatory frameworks. The position offers a great opportunity to gain a broader view of a bank balance sheet and balance sheet strategy, including the risk-return dimensions that Treasury departments face in the strategic risk positioning.
Role Objectives: Delivery
• Perform ongoing independent oversight of the IRRBB and Portfolio MTM risk exposures for SMBC branches and legal entities in the Americas region. Review and challenge risk metrics reported by the first line, including Economic Value of Equity (EVE) and Net Interest Income (NII) sensitivities to interest rates. Assess hedging strategies and related hedge accounting treatment.
• Support independent assessment of balance sheet and risk management strategies.
• Execute ongoing review and challenge of the IRRBB and Portfolio MTM risk management framework, including assumptions, approaches, and methodologies adopted in the measurement of IRRBB and Portfolio MRM risk. Evaluate QRM set up and modeling choices and report to senior management.
• Identify, recommend, and implement enhancements to the second line IRRBB and Portfolio MTM risk oversight framework. Support and perform review and challenge of first line of defense framework enhancements.
• Prepare and present risk analyses and reports to senior management and internal committees, as required.
• Ensure timely escalation of risk issues and limit breaches to senior management.
• Support and participate in engagements with local regulators in the region.
• Ensure documentation of the team's processes and support process automation as appropriate.
• Establish collaborative relationship with the first line Treasury function and other stakeholders within the Americas Division and in other regions.
Qualifications and Skills
• 5+ years of IRRBB and Portfolio MTM risk experience in the first- or second-line groups of U.S. banks or FBOs.
• Understanding of balance sheet products and risks, including the products' impact on IRRBB exposures.
• Familiarity with U.S. regulatory requirement for IRRBB (e.g., SR 96-13, SR 10-1, SR 16-3) and international standards.
• Knowledge of methods and approaches used for the quantification of IRRBB and Portfolio MTM risk. These include but are not limited to earnings, NII and EVE sensitivities and deposit modeling.
• Familiarity with QRM system for ALM and IRRBB.
• Strong interpersonal skills.
• Extremely well-organized and structured.
• Ability to deliver under tight deadlines and manage a variety of projects simultaneously.
• Excellent verbal and written communication skills.
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 accommodations@smbcgroup.com.