Director, Model Risk Audit

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.

Role Description

SMBC is looking for an experienced Audit Director who will lead model and model risk audits from the 3LOD and partner with business stakeholders to improve company's governance, risk management and internal controls in model risk management in SMBC Americas Division, with a focus of review of Artificial Intelligence (AI) / Model Risk management framework, and/or Comprehensive Capital Analysis and Review (CCAR) model governance and controls

Role Objectives: Delivery

• Support IAD Management and Team Lead in refining and executing the broad audit program that covers all models used in financial and non-financial risk management across SMBC Americas Division.

• Assist Model Audit Team Lead with the delivery and execution of IAD's model audit plan and assurance responsibilities. Provide support in preparation of management reports and regulatory presentation.

• As Auditor-in-Charge (AIC) and assistant to model audit Team Lead to direct and supervise audits from inception to completion including planning, testing, issue identification, workpaper review and reporting.

• Conduct or lead internal audits as auditor in charge and issue validation according to IIA Standards and internal IAD procedures within prescribed timeframes to support timely management review. Demonstrate a deep understanding of internal audit techniques and audit principles as well as ability to apply internal requirements.

• Ensure written and verbal communication of ACRs and individual audit report(s) as assigned conform with IAD NY methodology and incorporate sound judgment.

• Oversee and participate in quarterly and annual continuous monitoring / risk assessment process to identify business trends and changes in the business risk profile, and when necessary, propose updates to the audit plan to reflect them.

• Identify business process improvement opportunities in assigned audit areas by proposing corrective actions

• As needed, assist with special projects related to IAD strategic initiatives.

Role Objectives: Interpersonal

• Lead the establishment of model risk audit capabilities in the Charlotte office, including developing audit coverage, building team expertise, and enhancing methodologies to support IAD’s strategic objectives

• Effectively communicate with stakeholders and audit senior management to clearly articulate audit strategy, testing results and corrective measures.

• Develop, promote and maintain a collaborative and strong working relationship with AD business heads, external auditors, and regulators.

• Support Risk and Lending Business and Functional Head and Model Audit Team Lead to provide support, coaching, and feedback to audit team which may include other junior team members or co-sourced internal audit professionals.

• Demonstrate accountability, ownership and sense of diligence over individual tasks and assigned audit areas with limited supervision.

Role Objectives: Expertise

• Experience and deep knowledge of 1) AI model risk management and controls and 2) CCAR model and governance framework

• Excellent communication, presentation and professional skills including the ability to interact effectively at all levels within the organization.

• Understanding of applicable regulatory standards (including Model Risk, SR 26-2 and SR 11-7).

Qualifications and Skills

• Minimum of 7-10 years’ experience in the banking and finance industry or consulting companies, preferably in the 2nd and/or 3rd line of defense roles for model risk

• At Least 4 years of hands-on audit experience and familiarity with audit techniques, internal controls, and workpaper standards.

• Advanced Degree (Master’s or Ph.D.) in Finance, STEM or other quantitative field.

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 View email address on click.appcast.io.

EOE, including Disability/veterans