What are the responsibilities and job description for the Derivatives - Analyst position at Sumitomo Mitsui Banking Corporation?
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 $65,000.00 and $80,000.00. 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
The Derivatives unit is a part of the Treasury Operations group within BCDAD and is responsible for the confirmation, settlement, clearance, payment and reconciliation of derivative transactions executed by the bank’s domestic and global branch offices.
The Derivatives Analyst is responsible for review of the administrators and representatives daily processing of confirmations and settlements for securities trades. The Analyst may act as a subject matter expert and be responsible to resolve some complex matters. May be responsible to identify and implement improvements to policies and procedures. May lead a small team and train others. Reports to the Director level. Number of direct reports: up to 5. Number of indirect reports: none.
Responsibilities
- Prepares and inputs settlement instructions for timely and efficient processing
- Reconciles outstanding items; ensures trades are settled
- Researches discrepancies, troubleshoots issues and addresses them
- Generates quarterly position and audit reports for management review
- Resolves routine matters and escalates anomalies as appropriate
- Acts as a technical resource for junior staff members
- Prepares or verifies daily reports in compliance with regulatory requirements (Dodd-Frank, EMIR, Canada)
- No approval authority
- Documents processes and rationales
- Communicates with other internal departments, may communicate with external parties
- Perform quality and accurate checks
Qualifications and Skills
- 3 – 5 years of comparable or relevant experience
- Experience in a back office operations environment is desirable
- BA / BS (or equivalent experience) in Accounting, Finance or relevant discipline is preferred
- Knowledge of Canadian and EMEA reporting, regulatory systems
- Strong analytical, critical thinking and problem resolution skills
- High level customer service mindset with a commitment to excellence
- Ability to set priorities, manage time effectively, meet deadlines and complete work accurately
- Ability to quickly learn and adapt to new processes and system
- Excellent verbal, written and interpersonal communication skills
- Ability to work well autonomously and be a complete self-starter
- OBS, Montran, SAA, Markitwire, DTCC DDR and varoius on line trading or collateral systems, MS Office (MS Word, MS Excel, MS PowerPoint), SharePoint
Additional Requirements
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.
Salary : $65,000 - $80,000