Settlements- Vice President

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 $132,000.00 and $170,000.00. 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 VP of Capital Markets Settlements will be a senior member of the Derivative Operations team, supporting daily settlements processes for Capital Markets derivative trading business as well as provide support for the derivative business conducted by group companies in New York, London and Hong Kong. This role will closely partner with Front Office, Back Office, and IT to deliver on the business objectives.

The Derivative Operations Group handles operations for Capital Markets and is comprised of 5 key functions: Sales Middle Office, Confirmations, Settlements, Margin and Client Service Ops. Settlements actively manages pre and post settlement processes while actively monitoring daily risks. The function is focused on remaining current with industry standards and regulations. The team continues to evolve in its risk mitigation framework and technology agenda.

This position will primarily be located in our White Plains, NY office.

Role Objectives

Lead a team of Settlements professionals in ensuring timely settlement of cashflows, including pre-settlement preparation and post-settlement reconciliation.

Identify and escalate settlement breaks as needed.

Understand and ensure compliance with relevant regulatory requirements.

Proficiency using various industry-standard platforms as well as proprietary systems.

Identify opportunities for process improvements and implement changes to enhance efficiency and accuracy.

Actively contribute and test projects related to system enhancements and new industry initiatives and products.

Maintain accurate documentation for all group-owned controls and processes.

Ensure compliance with internal policies and procedures.

Act as a liaison for senior management on settlement-related issues

Qualifications and Skills

7 years of experience in financial services

3 years of experience working in Settlement capacity

BA/BS required

MBA a plus

Degree in Finance, Accounting or related discipline is preferred

Additional Requirements

D&I Commitment

Responsible for fostering a culture of diversity and inclusion, holding leaders accountable for creating an inclusive environment through awareness and practice of equity in recruiting, developing, and promoting diverse talent.

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.