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 anticipated salary range for this role is between $213,000.00 and $249,000.00. 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.

We are seeking a Head of Internal Controls to manage the bank’s internal controls compliance program, ensuring adherence to the Federal Deposit Insurance Corporation Improvement Act (FDICIA) internal control frameworks and corporate governance and risk standards. The role involves leading the FDICIA internal controls program life cycle from the beginning to the end and collaborating with internal stakeholders across departments as well as with SMBC holding company to ensure effective and sustainable compliance practices. This role also serves as the main liaison with the external auditors and the bank’s regulators on the audits or examinations of the bank’s internal controls program.

PRINCIPAL DUTIES AND RESPONSIBILITIES:

• Leadership & Strategy: build the bank’s standalone FDICIA compliance program, developing strategies to ensure ongoing adherence to regulatory requirements and the integration of internal controls into the bank’s broader risk management and governance frameworks.
• FDICIA Compliance Management: manage the end-to-end compliance process, including planning, risk assessments, control identification, control design and testing, documentation, remediation efforts, deficiency evaluation, and reporting.
• Control Monitoring & Testing: Supervise the planning and execution of control testing to evaluate the effectiveness of internal controls over financial reporting (ICFR) and ensure all deficiencies are identified, reported, and remediated in a timely manner.
• Collaboration with External Auditors/Bank Regulators: Act as the primary point of contact for external auditors/regulators regarding control-related matters, managing the coordination of audits/examinations and responses to inquiries related to internal controls.
• Coordination and collaboration with SMBC holding company: Work with the internal controls team at the SMBC holding company to transition and build an efficient and effective FDICIA program in the Finance organization considering alignment of control objectives and resources.
• Regulatory & Compliance Oversight: Stay up-to-date with regulatory changes and best practices. Implement necessary updates to the compliance program to ensure alignment with evolving regulations.
• Team Leadership & Development: Lead and mentor other internal controls staff and control owners, providing guidance, training, and support to ensure continuous development and effective execution of internal control activities.
• Risk & Control Optimization: Identify opportunities to enhance the efficiency of control processes, including the automation of controls and testing procedures, while maintaining a strong control environment.
• Reporting & Documentation: Prepare and present regular reports to senior management, Audit committee, and regulators on FDICIA compliance status, internal control deficiencies, and remediation efforts.
• Continuous Improvement: Drive the continuous improvement of control processes and systems by analyzing results, incorporating feedback, and adopting industry-leading practices.

POSITION SPECIFICATIONS:

Education: Bachelor’s degree in Accounting, Finance, Business Administration, or related field

Experience:

• Minimum of 15+ years of experience in internal controls compliance (SOX, FDICIA), internal audit, or risk management within the financial services or banking industry.
• At least 7 years of experience in a leadership role, with a proven track record of managing internal controls compliance programs, audit of internal controls, and audit processes.
• In-depth knowledge of SOX or FDICIA requirements, COSO framework and internal controls over financial reporting (ICFR).

Skills:

• Strong leadership and people management skills.
• Excellent written and verbal communication skills, with the ability to engage and influence senior leadership and external stakeholders.
• Analytical mindset with the ability to identify control gaps and recommend actionable solutions.
• Experience working with external auditors and regulatory bodies.
• Familiarity with financial systems and software (e.g., Oracle, FIS or similar) and control automation tools.
• Strong project management skills and the ability to manage multiple priorities effectively.

Ideal but not required:

• Certifications: CPA, CIA, or CISA preferred.

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.

We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. 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 accommodations@smbcgroup.com.

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