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Audit Director - Quality Assurance

Company: Sumitomo Mitsui Banking Corporation
Location: New York
Posted on: November 20, 2023

Job Description:

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 Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd. Role Description SMBC is seeking a Director to work within the Internal Auditing Department's Americas function focusing on Compliance risk. It reports to the Executive Director and is responsible for the scoping and execution of the Compliance Program audit coverage in accordance with established Internal Audit methodology and professional auditing standards. In this position, the individual is expected to articulate and apply sound knowledge of key compliance program laws, rules and regulations impacting financial institutions.This senior position will be responsible for running functional and thematic covering Compliance Program and provide subject matter expertise to the wider audit team. Responsibilities will include developing test programs, engagement with senior stakeholder and regulator management, staff supervision, and accountability for the quality of and judgment calls in resulting audit work product. In addition, the candidate must be able to supervise execution of the Compliance Program related audit plan and effectively dimension, communicate findings and address concerns raised by Bank regulators. n. Role Objectives Main components or key responsibilities of the job:

  • Perform oversight of Audit Team and examines internal controls in key risk areas of banking and/or broker dealer activities/practices to ensure compliance with internal policies and applicable rules, laws, and regulations.
  • Leads audits, or own completion of significant components of larger audits.
  • Enhance audit programs and plan, including processes to identify potential risk related to the business area emerging risk and regulatory change.
  • Evaluate the corrective actions designed to strengthen the Compliance risk management framework, operational policies and procedures, and other weaknesses identified during audits and regulatory examinations.
  • Analyzes reporting findings identified by the Audit Team and recommends pragmatic solutions for risk and control problems. Proactively communicate findings and maintain independence.
  • Deliver timely high quality audit assurance reports, Internal Audit and Regulatory finding validations and business monitoring reporting in accordance with Internal Audit standards, relevant government statutes and regulations.
  • Analyzes reporting findings identified by the Audit Team and recommends pragmatic solutions for risk and control problems. Proactively communicate findings and maintain independence.
  • Effectively manage senior management relationships. Uses excellent communication skills in order to influence a wide range of internal audiences including respective product, function, or senior management partners.
  • Participates in new business area initiatives or changes and proactively advises the stakeholders on compliance risk management initiatives.
  • Performs continuous monitoring.
  • Demonstrates strong judgment, political astuteness, and sensitivity to cultural diversity.
  • Possesses strong project management and interpersonal skills, makes sound decisions, exhibiting initiative, strong critical thinking skills and demonstrates ability to meet deadlines.
  • Proactively mentors, develops and invests in the professional development of audit resources. Qualifications and Skills Qualification Requirements:

    To perform this job successfully, the employee must be able to perform each essential duty to management's satisfaction. The requirements listed below are representative of the knowledge, skills and/or abilities required.
    • Minimum 15 years of senior level audit experience in areas related to Compliance Risk Management Programs, risk management, and internal policies with a large international financial institution, regulatory agency, and/or big four consulting firm.
    • Subject matter expertise and technical understanding of Compliance Risk Management particularly around risk assessments and monitoring and testing programs. Experience with bank, capital markets and broker dealer risk compliance management.
    • Proficient experience in developing, implementing, and leading the execution of compliance audit coverage with deep technical knowledge of core related regulatory requirements for the Americas.
    • Significant knowledge of the regulatory environment, trends in enforcement actions, especially those impacting the products and services offered by the SMBC's Americas business functions.
    • Strong interpersonal skills for interfacing with all levels of internal and external audit and management.
    • Demonstrates experience in managing integrated internal audit and assurance delivery.
    • Effective influence skills in communicating findings. This individual must be an articulate and effective communicator, both verbally and in writing. Preferred Education/Licenses/Professional Certifications/Registrations:
      • Bachelor's Degree in relevant discipline (e.g., Accounting, Finance or another related field)
      • Certified Regulatory Compliance Manager (CRCM) certification preferred or similar American Bankers Association Compliance accreditation.CIA and/or CPA are a plus. Additional Requirements D&I Commitment Responsible for fostering a culture of diversity and inclusion, holding leaders accountable for creating an inclusive environment through awareness and practice of equity in recruiting, developing, and promoting diverse talent. 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. SMBC is an EO employer - M/F/Veteran/Disability. 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

Keywords: Sumitomo Mitsui Banking Corporation, New York , Audit Director - Quality Assurance, Accounting, Auditing , New York, New York

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