Operational Risk Officer (VP)

Overview

The Risk Management Department Americas Division (RMDAD) is seeking an Incentive Compensation Lead Vice President to design, implement, administer risk based incentive compensation review policies, procedures, and programs. The ideal candidate is hands-on, highly analytical, and driven who will lead the planning, implementation, and administration of RMDAD’s Risk Based Incentive Compensation review program. This role will directly influence key business decisions via compensation plan designs and strategies ensuring risk taking activities drive growth, align with compensation strategy and policies, and requirements surrounding incentive compensation and risk management. The Lead Vice President will be able to apply their business acumen and incentive compensation expertise to engage with Human Resources, Compliance, PDAD and other partners across the organization to help drive a robust Incentive compensation program. The Lead VP will review and challenge relevant data to determine action plans to remediate deficiencies, as needed. The Lead VP will establish and reinforce a strong compensation culture and discipline throughout the bank.

Reporting to the Head of Core Operational Risk and Head of Non-Financial Risk, the Lead VP is responsible for the 2nd Line of Defense (LOD) – RMDAD’s Incentive Compensation Program across all risk stripes (financial and non-financial risks) for the Combined U.S. Operations (CUSO) in accordance with US Regulations, Head Office policies and industry practices for Risk Management.

The Risk Management Department is the 2nd LOD in its role of monitoring and assessing business practices as related to the risk appetite framework for SMBC. RMDAD implements an operational risk framework independent of the businesses’ risk appetite statements. The Lead VP is responsible for the overall Incentive Compensation Program across various businesses, group companies, and functions of the bank and reporting findings to the Head of Operational Risk and Head of Non-Financial Risk, as necessary.

Responsibilities

• Responsible for the risk based incentive compensation review program’s design, implementation, and administration, including creation and modification of incentive plans
• Consults and partners with key stakeholders/departments (e.g., Senior Leaders, Human Resources, Finance, Strategy, Legal and other functions, as needed) to develop and implement risk based incentive compensation review program
• Assists cross functional departments and teams (e.g., Senior Leaders, Managers, Human Resources, Finance, Strategy, Legal and other functions, as needed) with review of risk taking activities and incentive compensation
• Researches, gathers, and synthesizes business-level and firm-level risk data
• Ensures risk taking activities are reviewed for compliance with policies and processed accurately within specified timeframes
• Communicates matters related to compensation to internal stakeholders and management in an informed and confidential manner
• Leads Compensation Analyst(s) to create relevant and meaningful (ad-hoc) analysis, performs periodic salary and employment cost index reviews, and participates in market surveys
• Documents decisions to create better clarity and visibility into future designs and communications
• Gathers data to be incorporated into reports (e.g., reg and board reporting), when required
• Stays informed of emerging industry trends and government regulations related to compensation

Qualifications

• 7 years minimum of direct work experience with a focus on compensation or risk management desired (financial services and/or consulting experience preferred)
• Knowledge and understanding of compensation practices at a financial institution or large Foreign Banking Organization (FBO)
• Knowledge and understanding of regulatory compliance requirements surrounding incentive compensation and risk management
• Strong project management, planning, organizational, and time management skills
• Strong analytical, research, and problem-solving skills
• Strong data analysis and Incentive Compensation modeling background; proven ability to interpret, summarize and present analysis
• Ability to handle personally identifiable information (PII) in a confidential manner
• Proven ability to work with all levels of management, including senior level management
• Meticulous, highly organized, and self-directed approach to work, including the ability to handle multiple projects simultaneously and prioritize competing tasks in time-constrained situations
• Ability to develop, improve and lead cross functional processes
• Ability to manage multiple assignments and reprioritize as circumstances may dictate
• Strong desire to continually deliver a quality and meaningful work product in a timely and efficient manner
• Excellent oral/written communication and interpersonal skills required
• High degree of critical thinking and problem solving
• Bachelor’s/University degree, Master’s degree preferred