What are the responsibilities and job description for the Settlements 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 $67,000.00 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
Monitor and process post-trade instructions, ensuring timely settlement of trades executed by trading desk and clients. Track and resolve cash and security reconciliation breaks, and liaise with trade support to remediate any issues. Ensure that all standard settlement instructions have been validated before release. Ensure that instructions are released to market, and manage settlement risk and exposure.
Role Objectives: Delivery
Support the day-to-day execution of securities processes including settlements, confirmations, exception management and note issuance / management. Ensure timely confirmation and settlement of all transactions. Provide client custody statements as required and process transactions in line with documented procedures. Provide MI for operations team on cash receipts, failed transactions, exceptions and trade instruction reconciliations, escalating any unmatched items as required. Ensure that all end-of-day checks are completed and signed off and that process flows and checklists are up to date. Report any client disputes and risk incidents to control team(s) within agreed timelines and ensure that operational key risk indicators (KRIs) are kept within established tolerances.
Role Objectives: Interpersonal
Build and maintain relationships with key stakeholders within business and infrastructure departments in order to coordinate responses and resolve issues. Demonstrate good communication and presentation skills, including ability to convey detailed information clearly. Demonstrate excellent listening skills and openness to feedback in order to enhance personal and team productivity and performance. Demonstrated positive and professional attitude and reliability. .
Role Objectives: Expertise
Demonstrate a good understanding of the CASS rules and the daily control framework.
Qualifications and Skills
Recommended years of experience: 0
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 : $67,000 - $80,000
