Vice President, Enterprise Risk Management

Job Level: Vice President

Location: Toronto, ON, CA, M5K 1H6

Employment Type: Full Time

Requisition ID: 4255

The Vice President, Enterprise Risk Management (ERM) will be responsible for working with the Executive Director, ERM in the independent identification, measurement, assessment, monitoring, and reporting of all significant risks to the organization.

This position will be responsible for the production of various ERM reports as assigned.

This position will also be responsible for the adoption, implementation, and maintenance of various Risk Management Policies, Guidelines, Procedures, and associated Risk Appetite Metrics and Thresholds.

Key Accountabilities

• Ensure that organization’s risk management policies and strategies are in compliance with applicable regulations, rating agency standards, and strategic imperatives of the organization; and aligns with Head Office (including Americas Division) enterprise risk and compliance management framework and relevant risk management policies adopted by ERM Department.
• Prepare and review all ERM policies, standards, guidance, and procedures from Head Office including Americas Division (AD), for adoption and implementation by Canada Branch.
• Adoption of in-scope SMBC-AD and Tokyo HO Enterprise wide Risk Management Policies, Frameworks, Standards, and Guidelines.
• Develop implementation plan for newly adopted/established Policies owned by ERM Department.
• Proactively monitor the external environment (i.e. real estate markets, interest rates, capital markets, inflation, GDP etc.) and the Bank’s risk exposure for adverse impacts to risk policies/procedures and recommend changes as appropriate.
• Review and provide recommendations for changes to internal limits, risk tolerance, and key risk indicators.

Annual review and update of ERM-owned Policies, frameworks, procedures, and desktop manuals.

Risk Identification, Measurement, Assessment, Monitoring, and Reporting:

• Develop Enterprise Risk Management tools, practices, and policies to analyze and report enterprise risks, and to manage risks according to an enterprise risk management framework. Monitors and analyzes risk with the company’s business units and reports on these risks to the management.
• Establishing, Monitoring, and Reporting of Risk Appetite Metrics.
• Preparation of materials for the monthly ALM and ERM committee meetings.
• Analyze and assist in liquidity stress testing and market risk stress testing.
• Assist in the development and execution of ERM stress testing and scenario analysis.
• Keeps abreast of developing global financial and economic trends and emerging risks relating to reputational risk and operational risk that may impact the Bank.
• Establishing and ongoing management of the Risk Identification – Top & Emerging Risk / Scenario Development / Playbooks / Black Swan event.

Corporate Strategy, Risk Appetite, and Planning

• Contribute to the review/update of enterprise risk management strategy and action plan.
• Contributes to the periodic reviews of the Canada Branch’s strategy, operating models and operations, the risk appetite framework, and ERM framework.

Other ERM Duties

• Assist the ED Enterprise Risk in liaison with local regulators.
• Coordination with regional risk teams on new and ongoing initiatives.
• Assist ERMD with the implementation of AD project/initiative.
• Other duties as assigned by the ED Enterprise Risk or other team members.

Qualifications and Skills

Knowledge: Post-secondary education in finance, accounting, mathematics, or business discipline. Working towards a professional designation such as FRM, CPA, CIA, or CFA would be an asset.

Experience: 5-8 years’ experience in commercial banking, advisory - risk management, other financial services or professional services, as a risk manager/senior manager.

Skills: Practical knowledge of leading industry practices related to risk management in financial institutions including credit, market, operational, and other key risks.

Sound, practical knowledge of credit risk and portfolio management strategies; foreign exchange trading, derivative products, and money markets, and stress testing.

Knowledge and understanding of applicable regulatory requirements, expectations, and business impacts.

Ability to work independently and meet deadlines.

Result-oriented and attention to detail including excellent command of written and spoken English.

Computer Skills: Microsoft Office including good Excel skills. Have knowledge of, or willingness to learn the SMBC GIS systems (e.g., FOX, OBS, Oracle GL, and Cognos reporting) and FINCAD application.

About SMBC

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.

SMBC is an EO employer – M/F/Veteran/Disability.