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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 Rail Services LLC, Manufacturers Bank, 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 $171,000.00 and $205,000.00. 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 Objectives: Interpersonal

Manage relationships with internal and external stakeholders to drive client service standards and operational excellence for Settlements. Closely partner with Ops risk and control, legal and compliance, and technology to evolve the settlements risk framework. Provide training to staff on all operational processes and organizational initiatives. Coach, mentor and manage staff ensuring effective performance management and driving employee engagement.

Role Description

The Head of Settlements will be responsible for managing a team of approximately 15 staff who support the 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. Manage and monitor post-trade instructions, ensuring timely settlement of trades executed by trading desk and clients. Track and resolve cash and security 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: Expertise

Demonstrate complete knowledge of cash management and trade settlement processes and lifecycle across derivative products and markets. Demonstrate solid knowledge of various settlement market rules. Strong leadership in an amorphous environment with the ability to self-start. Demonstrate ability to implement change in a risk-controlled manner. Effective communication and ability to manage to diverse stakeholder groups. Forward thinker who seeks to improve business processes that deliver an elevated operating model. Project management skills a plus.

Qualifications and Skills

Recommended years of financial services experience: 10Education: Required: BA / BS

Systems: Proficient in MS Office, SWIFT

Licenses / Registrations: FINRA Series 99 required

Role Objectives: Delivery

Summary:

Lead a diverse and engaged team in close oversight of settlements processes and related activities ensuring timely and accurate payments across derivative products and margin activities. Drive a culture of transparency, accountability, and process consistency within the team. Review new product proposals from business units, coordinate system user acceptance, regression testing and implementation with respective stakeholders. Author and review operations-related documentation, including training materials. Independently run significant projects on behalf of Settlements Ops function. Drive improvements to service capabilities, identifying and/or overseeing initiatives to increase operational effectiveness, efficiencies and scale. Ensure regulatory compliance and operational targets are met or exceeded. Provide continuous product and process education working with internal parties to strengthen controls and respond to operating events in a timely manner. Maintain the control environment through a robust and effective set of operational risk controls and escalation procedures. Consider the evolution and transformation required to support business growth and remain competitive with our peers. The Head of Settlements will be asked to perform an assessment of current functional landscape and propose / execute recommendations on areas for improvement.

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.

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.