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                Head of Operational Risk

                Sumitomo Mitsui Banking Corporation
                White Plains, NY 10601
                Full-time, Part-time
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                Job Description

                SMBC Group is a member of Sumitomo Mitsui Financial Group

                IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT - To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

                Posting Date 2 days ago (7/11/2020 2:08 AM)

                Position ID DJOB

                Corporate Title MD

                Type Fulltime-Regular


                The Head of Operational Risk is responsible for establishing and maintaining an appropriate operational risk management framework and infrastructure for the Americas Division (AD), the Combined U.S. Operations (CUSO) and SMBC Americas Holding (BHC), leading the review, challenge and oversight over these risks and activities as well as serving as the primary contact with U.S. regulators on operational risk and other risk matters.

                As Head of Operational Risk, the individual is responsible for leading and driving the team to further strengthen the operational risk management framework to a level that is appropriate for a Global Systemically Important Bank. The individual will establish and refine frameworks, methodologies and processes to identify, measure, assess and control operational and other risks generated by the front, middle and back offices and the 1 st and 2 nd lines of defense. The individual will review and challenge the subject risks, have significant stature to provide insight and oversight regarding these risks and drive change in businesses and with senior leaders relative to risk management of these risks. The position also assists in assessing potential tail risks generated by existing and new activities, assessing if they are adequately priced and providing control optimization recommendations across the AD and CUSO group companies. The individual will lead a team of risk specialists in the centralized Risk Management Department Americas Division of SMBC, which is responsible for providing risk services to the U.S. Branch, Cayman Branch, and Group Companies within CUSO, as well providing oversight of members within Group Company teams. In addition, the Head of Operational Risk will ensure c ompliance with regulatory standards related to operational risk, and liaises with regulators as SMBC's primary point of contact on operational risk and other risk matters within the AD.


                The individual's primary job responsibilities are multi-fold. They include establishing, refining and maintaining a risk management framework, developing and revising methodologies, and overseeing the operational and other risks of AD's businesses and activities (including 2 nd Line of Defense over cyber risk, f raud risk, third party risk, information management risk, resiliency, business continuity/disaster recovery and information security risk). A key aspect of this role is to review and challenge these risks for each related department and across the AD and to appropriately escalate risk-related matters in a timely manner to Senior Management, the relevant governance committees, and the AD Chief Risk Officer. An important element of the role is bringing deep expertise in operations, payments and financial product processing to provide value-added identification of emerging non-financial risks through a review and challenge process that reduces inherent and strengthens our control environment.

                In addition, the responsibilities include: defining complex issues, creating analytics and methodologies to identify risk and assess control effectiveness; driving remediation initiatives and building consensus for adoption; developing executive level materials and presenting to the Board Risk Committee and other senior executives in order to build consensus with stakeholders across AD and leading and managing a team.

                The activities associated with these responsibilities include the following:

                Establish and Maintain Operational Risk Management Infrastructure

                • Develop methodologies and frameworks and drive consistent approaches to identify, assess, manage and report operational risk events, assessment issues and key risk indicators
                • Manage a team of direct reports and employees who matrix into Operational Risk
                • Partner with Business Risk & Control functions (1 st LOD Operational Risk Management professionals) to ensure the appropriate structure is in place to perform review, credible challenge and oversight of the 1 st line control environment
                • Collaborate with the business to ensure ongoing enhancement / refinement of Key Risk and Key Performance Indicators covering the non-financial key risk domains defined in the Operational Risk Management  framework and ensure they are relevant to capture emerging risks
                • Maintain an effective risk management function that properly controls operational risks, meets U.S., Japanese and other relevant country regulatory risk requirements
                • Ensure that the operational risk management rules and standards are applied consistently across the AD business lines and ensure consistency and linkage with Head Office strategy and requirements
                • Design, implement and continue to evolve an industry-standard Operational Risk Target Operating Model which spans the AD and covers the CUSO, BHC and Group Companies
                • Assess and secure the resources necessary for the execution and maintenance of an effective operational risk management infrastructure

                Monitor and Report Ongoing Operational Risk Activities

                • Aggregate risk data and synthesize key themes for reporting to senior management risk governance forums and Board level Committees
                • Partner with Business & Control function(s) to understand and continuously monitor risk profile and develop new metrics in light of new developments and evolving business strategies, this includes raising awareness and ensuring the firm's ability to adhere to policies & standards
                • Maintain and enhance non-financial key risk management policies and standards
                • Conduct deep dives/risk assessments/gap analyses and document findings
                • Track remediation plans on material risk events and issues to ensure control gaps are closed
                • Administer overall, day-to-day risk operational risk management within CUSO by overseeing all aspects of activities involving operational risk
                • Lead and manage the team to conduct monitoring and reporting of operational risk activities including but not limited to internal and external fraud, cyber security, workplace safety, regulatory adherence, regulatory reporting failures, business disruption, documentation/processing errors, and payment/settlement risk
                • Maintain and develop an appropriately skilled operational risk management team and help to recruit, develop, motivate, and retain top talent who actively collaborate to achieve team goals and are committed to the team's success
                • Negotiate and partner with departments and groups across the AD, CUSO, BHC, Group Companies, and Head Office level; Effectively liaise and collaborate with internal stakeholders

                Respond to Changing/Growing Requirements for Operational Risk Management

                • Drive and evolve creation of common operational risk Taxonomy that is used by Risk, Compliance and Audit
                • Redesign, continuously enhance and a participate in the Risk Control Self-Assessment program by evaluating the results to assess whether the proper risks are identified and to verify the effectiveness of the control environment
                • Provide expertise and insight into and view on the efficacy of business metrics and recommend enhancements to measure process changes which lowers inherent risk through effective controls and/or implementation of new controls
                • Actively manage CUSO response to market developments and regulatory changes to ensure a robust operational management framework and develop new methodologies to identify and assess new non-financial and emerging risks and link their assessment to the Risk Appetite process.
                • Further enhance capability and resourcing for cyber security risk management and IT resiliency


                • At least 15 years of specialized experience, in operational risk management at a large financial institution.
                • At least 10+ years of managerial experience.
                • Experience in operations, consulting and U.S. banking desired
                • Education: Required: BA/BS,  Preferred: MA/MS/MBA/MPP (in Risk Management, Public Policy or Finance)
                • Risk Control Self-Assessment (RCSA) and Governance Risk & Control (GRC) software


                • Strong technical knowledge of operational and non-financial risks, operational risk methodologies and frameworks, management tools and models and the ability to synthesize data to develop a cohesive assessment of the risk factors and convey contextual significance for both senior management presentations and regulatory reporting
                • Expert knowledge of the operational and other risks they generated by banking products and their associated processes, including payments, and of end-to-end process and control assessments
                • Strong knowledge of 2 nd Line of Defense best practices for cyber and IT risks and ability to develop review and challenge framework for these functions
                • Strong knowledge of credit and financial products and industry standard processes and metrics for measurement of operational risk support and gravitas with business and other stakeholders as an expert who can drive value and reduce operational risk
                • In-depth knowledge of the U.S. and international banking laws and regulations and specifically operational risk management frameworks and regulatory requirements


                • Quantitative and qualitative technical skills to assess diverse assets and measure risks by using various models and build framework, develop metrics and back test efficacy at detecting emerging risk to define, test and refine frameworks, methodologies, KPIs
                • Ability to (and in experience in) implementing new risk measurement, controls and processes that are relevant to the business, enhance operational risk management environment and add value to the business, and fit within global frameworks
                • Strong analytical, strategic thinker and reasoning skills; ability to understand complex situations, people, and system needs against backdrop of managing a risk management environment as well as articulate a vision of the future through practical goal setting designed to inspire teams to achieve organizational excellence
                • Excellent written and verbal communication skills and ability to translate these skills to capture content rich issues and drive complex initiatives; masterful in PowerPoint at distilling, rendering and visualizing complex issues in an accessible manner for Board member, executive, senior and technical audiences
                • Expert ability to build strong relationships with other all three Lines of Defense and colleagues, including risk management leaders across SMBC internationally and to drive consensus and, where appropriate, takes a firm position even in the absence of broad-based support

                Communication and Leadership

                • Excellent communication skills, leadership and relationship-building skills to manage regulators, compliance officers, and internal relationships with Front Office Lines of Business, Finance, Compliance, Operations, and Treasury
                • Agile leader, with significant experience managing large teams of a combination of direct reports and employees who matrix into Operational Risk / work on common projects, and in developing team structures which create leverage, guiding and shaping team product deliverables, raising analytical capabilities and gravitas of the team, and providing constructive mentoring and feedback that increases the value-add of the team
                • Experience interacting with regulators with a proven track record of anticipating questions and solving problems, including remediating bank and other regulatory findings
                • Expert judgment in handling complex and highly confidential matters with integrity and professionalism
                • Leadership skills to drive time sensitive cross-functional projects both within the risk department and across other SMBC departments. Ability to lead across risk stripes to develop holistic risk views and articulate a unified vision of risk within SMBC.
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                SMBC is an EO employer - M/F/Veteran/Disability

                Posting ID: 564762510Posted: 2020-08-04