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Associate, Compliance (Broker Dealer) Testing & Monitoring - SMBC Nikko Securities America, Inc.

Associate, Compliance (Broker Dealer) Testing & Monitoring - SMBC Nikko Securities America, Inc.

Job Locations 
US-NY-New York
Career Category 
Compliance and Legal
Position ID 
Corporate Title 
Posting Date 

More information about this job


SMBC Nikko Securities America, Inc. is a member of the Sumitomo Mitsui Financial Group, one of the world's largest global financial institutions. Based in New York City, we provide financial products and services to institutional clients, focusing on North America and Latin America. The firm is an SEC registered securities broker dealer and member of the Financial Industry Regulatory Authority (FINRA) and the Municipal Securities Rulemaking Board (MSRB). We are seeking an experienced and motivated individual to perform compliance testing and monitoring functions including the preparation of risk assessments. 



Work with the Director of Compliance Testing and Monitoring to accomplish the following responsibiities:

(1) Obtain a detailed understanding of the compliance risk assessment system (SGRC) and of the compliance testing program system (RSM’s Auditor Assistant software)
(2) Review and understand gap analysis documented in Auditor Assistant
(3) Review and understand risk categories documented in SGRC
(4) For each rule identified in the gap analysis in Auditor Assistant
     - input rule into SGRC with detailed description and all required attributes
     - perform a risk assessment for each rule by rating 10 risk categories
     - reconcile SGRC and Auditor Assistant risk ratings
(5) Obtain a detailed understanding of actions and reporting in SGRC
(6) Distribute annual compliance action plan and results report to Compliance team and CCO for review and approval
(7) Perform gap analysis of rules to WSPs and remediate any gaps
(8) Execute testing plan, report testing exceptions, and follow up on remediation
(9) Monitor issues tracker and obtain support documentation for CCO review to close
(10) Update Compliance P&Ps for new procedures
(11) Coordinate the preparation and distribution of compliance and KRI reports



Experience/Knowledge required:

- Minimum of 2- 5 years of relevant compliance experience in testing, monitoring and risk assessments is required
- Experience working in a Compliance or Internal Audit department at a broker dealer or at an accounting firm or a securities regulator is preferred
- Strong knowledge of SEC and FINRA rules and regulations along with understanding of financial products, investment banking transactions, and the operations of a broker dealer
- Experience in having prepared and maintained rule gap analysis and risk assessments
- Experience in conducting FINRA Rule 3120 supervisory control system testing
- Bachelor's degree required, or its equivalent 

- Series 7 a plus


Required Skills/Abilities:

- Extremely meticulous and detail-oriented with ability to multitask, organize and prioritize
- Ability to analyze and summarize rules, policies and processes
- Excellent oral and written communication skills including the ability to explain regulatory requirements to stakeholders 
- Self-starter able to work independently with minimal supervision as well as within a team environment
- Ability to work as a member of a team in a fast-paced environment
- Should be accomplished user of Excel including pivot tables
- Ability to flow chart processes using Visio would be a plus