Funds Transfer Pricing Manager

Funds Transfer Pricing Manager

Job Level:  Director

Location:  

Jersey City, NJ, US, 07311

Employment Type:  Full Time

Requisition ID:  5082

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 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 $200,000.00 and $225,000.00. 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

This Director, ALM/FTP role will be responsible for supporting the Bank’s Asset Liability Management (ALM) function including forecasting, interest rate risk modeling, funds transfer pricing (FTP), FX exposure management, liquidity stress testing, and Asset Liability Management Committee (ALCO) package preparation. Work is varied in nature with changing priorities.

Key Responsibilities

• Responsible for leading the development and maintenance of the Bank’s ALM and FTP models / methodologies.  Be able to identify and independently resolve technical/modelling issues in the context of ALM and FTP.
• Responsible for managing the product IRRBB, FTP methodology changes and supporting annual model validation process, and FTP methodology enhancements.
• Manage and coordinate with the team and key stakeholders on maintaining, updating, and improving, where possible and appropriate, the analytics that support the assumptions recalibration process for the ALM/FTP methodologies.
• Coordinate with all levels of management and other departments to gather, analyze, summarize, and prepare IRRBB metrics, FX exposures, FTP reporting for the ALCO and various other monthly, quarterly, and annual Corporate Treasury related reports.
• Create consolidated reporting that includes IRRBB related metrics with consistent aggregation and integration across business lines, legal entities, etc. for the ALCO. Ensure risk reporting is timely and accurate and changes in risk are properly investigated and understood.
• Lead the monitoring of activities and exposures to ensure adherence to approved policies and limits. Regularly review existing policies and limits, proposing updates and revisions where necessary.  
• Lead the FTP methodologies and governance, and maintain the related policy and standard.
• Coordinate with CUSO Treasury SMEs to lead the development and enhancement of Fund Transfer Pricing (FTP) methodologies and governance.  Create hedging strategies for exposures outside organizational risk tolerances. Analyze liquidity and investment needs over various scenarios. Prepare position reports, reconciliations and other accounting support. Evaluate foreign currency exposures and strategy and compare budget results to actual to validate outcomes. Coordinate with Head-Office to recommend changes to FTP based on locally observed markets, and implement new guidance locally to promote global consistency.
• Lead the efforts to enhance the FX exposure management process, and build out the procedures for CUSO.
• Adhere to operating policies and procedures and regulatory guidelines and make recommendations within scope of ALM/FTP and/or provide input into policy and procedure amendments.

Qualifications and Skills

• Recommended Years of Experience: 10+
• Bachelor’s degree in finance, accounting, mathematics, computer science or related field, Graduate degree in finance, economics, or math; MBA, CFA, FRM, PRM and/or specialized degree in financial engineering or similar discipline preferred.
• Advanced analytical and problem-solving skills. Advanced knowledge of Microsoft Office Suite, particularly Excel.

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.