Associate, Initial Margining Modeling

Sumitomo Mitsui Financial Group, Inc. • $95K — $140K *
New York, NY 10025In-Person
Finance & Insurance
Less than 5 years of experience
Today
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Job Overview by Ladders

Qualifications

  • Bachelor's or Master's degree in Financial Engineering, Mathematics, Computer Science, Statistics, or related quantitative field
  • 2-5 years of experience in SIMM, xVA, market risk or counterparty credit risk
  • Knowledge of derivatives products like interest rate swaps and FX derivatives
  • Understanding of SIMM and xVA concepts such as VM, IM, RMA, ISDA
  • Strong analytical, problem-solving, and communication skills
  • Proficiency in statistical programming languages (e.g. Python, SQL) and data visualization tools (e.g. Power BI)
  • Ability to manage multiple priorities in a fast-paced environment

Responsibilities

  • Participate in semiannual ISDA SIMM upgrade and collaborate with IT for implementation
  • Perform ongoing model monitoring activities, including back-testing
  • Analyze and monitor SIMM and RMA for bilateral transactions
  • Assist in enhancing and monitoring the xVA VaR model
  • Collaborate with IT for user-acceptance testing of SIMM and xVA VaR
  • Work with front office, margin operations, and risk officers to improve the SIMM and xVA VaR framework

Benefits

  • Hybrid work model allowing flexibility between remote and in-office work
  • Opportunities for professional development and skill enhancement
  • Collaboration with experienced professionals in risk management
  • Involvement in high-impact projects within enterprise risk practices
Full Job Description
Role Description

We are seeking a highly motivated and detail-oriented Associate to join the Initial Margin modeling team. This role will primarily support the enhancement, implementation and maintenance of the SIMM and the xVA VaR model, with a focus on ongoing monitoring, BAU support, and ad-hoc analysis. This role will also support SIMM and xVA VaR requirements for onboarding new products and collaborate with Risk IT team to implement model changes. This role offers significant exposure to the SIMM and xVA VaR framework and broader enterprise risk management practices. This role requires a strong quantitative and analytical background.

Key Responsibilities

  • Participate in semiannual ISDA SIMM upgrade and collaborate with IT for implementation
  • Perform model ongoing monitoring activities (e.g. back-testing), and investigate breaches for any remediation action.
  • Analyze and monitor SIMM and RMA for bilateral transactions, and investigate margin dispute and large day-over-day movements.
  • Assist in the enhancement and ongoing monitoring for the xVA VaR model.
  • Work with IT to perform user-acceptance-testing (UAT) for implementing SIMM and xVA VaR to support new business onboarding.
  • Collaborate with FO, margin operations, risk officers, risk reporting and other stakeholders to improve SIMM and xVA VaR framework.


Qualifications and Skills

  • Bachelor's or Master's degree in Financial Engineering, Mathematics, Computer Science, Statistics, or a related quantitative field.
  • 2-5 years of experience in SIMM, xVA, market risk or counterparty credit risk.
  • Knowledge of derivatives products (e.g., interest rate swaps, FX derivatives, options), and related valuation fundamentals.
  • Understanding of SIMM and xVA concepts such as VM, IM, RMA, ISDA.
  • Strong analytical, problem-solving and communication skills with attention to detail.
  • Proficiency in statistical programming languages (e.g. Python, SQL), and data visualization tools (e.g. Power BI) etc.
  • Ability to manage multiple priorities and work effectively in a fast-paced and collaborative environment.

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.

About Sumitomo Mitsui Financial Group, Inc.

Sumitomo Mitsui Financial Group, Inc. Careers

There has never been a more opportune time to join the dynamic team at Sumitomo Mitsui Financial Group, Inc. (SMFG)—a leading force in the financial services industry recognized for its leadership in innovation and diversity.

Explore Job Opportunities

Sumitomo Mitsui Financial Group, Inc. offers a plethora of job opportunities that cater to a variety of skills and interests. The company is renowned for its commitment to professional growth and leadership development, making it an ideal environment for ambitious individuals looking to advance their careers.

Experience Professional Growth

At SMFG, career advancement is not just a possibility but a priority. The company supports its team members with extensive training programs, including leadership development and diversity training, ensuring that every employee has the tools and knowledge necessary to succeed.

Join a Diverse and Inclusive Team

Diversity and inclusion are at the core of the company culture at Sumitomo Mitsui Financial Group, Inc. With a global team that values unique perspectives and fosters a collaborative and inclusive environment, SMFG is a place where everyone can thrive.

Internship Programs

For those starting their career journey, SMFG offers internship programs that provide a robust foundation in the financial sector. Interns gain invaluable experience, working alongside seasoned professionals and engaging in projects that offer real-world applications of their studies.

Benefits and Culture

Sumitomo Mitsui Financial Group, Inc. is dedicated to not only attracting but also retaining top talent by offering competitive benefits that enhance both personal and professional life. The company culture promotes work-life balance, employee well-being, and continuous learning.

Innovative Work Environment

Innovation is a key driver of SMFG’s success. Employees are encouraged to bring forward-thinking ideas to the table and are provided with the resources to transform these ideas into actionable solutions that drive the financial industry forward.

Networking and Career Development

Networking opportunities within SMFG are abundant. Employees are encouraged to connect with colleagues and industry leaders through various platforms and events, enhancing their professional network and opening doors to myriad career opportunities.

Apply for a Position

Sumitomo Mitsui Financial Group, Inc. is actively hiring and looking for talented individuals who are passionate, curious, and driven. Explore open positions that match your skills and interests on the SMFG careers page.

Stay Connected with SMFG Careers

Keep up to date with the latest career tips, industry insights, and company news from Sumitomo Mitsui Financial Group, Inc. Subscribe to receive updates and stay informed about new job openings and employment trends.

Prepare for Your Interview

Aspiring to join SMFG? Prepare your resume to reflect your best self and gear up for the interview process where you can showcase your skills and passion for finance and innovation.

Career Opportunities Await

At Sumitomo Mitsui Financial Group, Inc., the potential for professional development and personal growth is limitless. Discover the exciting and rewarding career opportunities that await at SMFG, where every position contributes to the company’s global success and leadership in the financial industry.
Learn more about Sumitomo Mitsui Financial Group, Inc.
Industry
Finance & Insurance
* Ladders Estimates

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