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Associate, Operational Risk Management - SMBC Capital Markets, Inc.

Associate, Operational Risk Management - SMBC Capital Markets, Inc.

Job Locations 
US-NY-New York
Career Category 
Risk Management
Position ID 
Corporate Title 
Posting Date 

More information about this job


SMBC Capital Markets, Inc. (CM) is a derivatives trading company which was started in 1988 and is based in New York City, with offices in London and Hong Kong. SMBC CM is an established derivatives dealer with a broad product portfolio, with specific emphasis on interest rates and foreign exchange products such as interest & FX swaps, FRAs, options, exotic products, commodity derivatives as well as exchange traded products such as treasury bonds, interest rate futures & options, currency futures, treasury futures & options, etc.

CM is searching for a candidate to serve as an Operational Risk Management Associate in its Derivatives Products Group. The Operational Risk Management Associate will participate in various aspects of risk oversight and analysis for CM, with an emphasis on operational risk and regulatory compliance. The position is on the trading floor and the work environment is fast paced. The person will have direct contact with front office traders and marketers. Communication, both internally (e.g. by setting risk policies and internal reporting) and externally (particularly to satisfy regulatory requirements), will be a key aspect of this role.

The position will not have any direct reports at this time. The role is expected to collaborate with the entire Risk Management Group which includes market risk, counterparty credit risk, model risk, operational risk and regulatory risk functions, as well as liaise with other groups within CM. Therefore it is essential the candidate a team player with great communication skills.  



- Assist in developing and support enterprise-wise operational risk management framework. Disseminate operational risk awareness and training throughout the firm. 

- Review, manage and develop policies to ensure appropriate Enterprise Risk controls are in place and that any changes/updates in policies are communicated in a timely manner
- Develop, maintain and update risk related policies, procedures and other governance related documentation
- Assist in developing operational risk reports and monitoring processes, including key risk indicator (KRI) production, analysis and maintenance.
- Oversee and manage projects related to control enhancement initiatives and other firm-level projects as they relate to the operational risk management governance structure.
- Work with Regulatory Risk Lead in the Risk Management Department to maintain regulatory policies and procedures within the Risk Management Program.
- Monitor changes in the regulatory environment applicable to a US Swap Dealer
- Work with Regulatory Risk Lead in the Risk Management Department to develop new regulatory compliance measures.
- Work alongside internal groups such as Market, Credit, Liquidity Risk areas as well as Compliance, Legal, and Operations on matters related to risk controls, self-assessments, incidents and infrastructure projects
- Work closely with the front office to assess business needs and develop operational risk controls to efficiently achieve revenue target and new business growth.
- Provide support and guidance for audits and regulatory examinations 

- Prepare for and participate in internal meetings, write meeting minutes and follow up on action items.







Preferred Previous Work Experience:
 - 2-5 years of experience in an operational risk or closely risk-related position, preferably within the capital markets space.
 - Candidates with backgrounds in Internal Audit and/or Compliance will also be considered.

Preferred Education/Licenses/Certifications/Registrations: 

- Bchelor’s or Master’s degree in finance, business, or related quantitative field or equivalent training.

Required Skills, Knowledge, Abilities and/or Training:

- Strong knowledge of leading Operational Risk best practices
- Experience in the regulatory environment applicable to US Swap Dealer (e.g. Dodd-Frank, IHC of FBO and Volcker)
- Knowledge of derivatives and their key risks, particularly interest rate and FX products.
- Knowledge of risk management framework (e.g. Regulatory Capital, VaR and stress-testing standards, counterparty exposure estimation, liquidity estimation, model assessment and validation, documentation and reporting approaches)
- Good analytical and critical thinking skills.
- Good communication skills and the ability to work on teams.
- Ability to coordinate with internal departments and drive projects
- Excellent verbal and written communication skills
- Graduate degree, CFA, or FRM preferred.