Associate, Model Risk

Sumitomo Mitsui Financial Group, Inc. • $112K — $135K *
Jersey City, NJ 07305In-Person
Finance & Insurance
Less than 5 years of experience
Today
Be an Early Applicant
Job Overview by Ladders

Qualifications

  • Master's degree in financial engineering, mathematics, or related field with 3 years of experience.
  • Advanced skills in data science and financial data engineering including data cleansing, parsing, restructuring, and validation.
  • Proficiency in SQL and either Python or R for statistical analysis and model testing.
  • Knowledge of statistical testing methodologies, machine learning techniques, and model risk management frameworks.
  • Strong understanding of financial services and relevant regulatory guidance such as SR 11-7.

Responsibilities

  • Conduct end-to-end validations of BSA/AML/Fraud models using SQL, Python/R, and Hadoop.
  • Assess financial model risks including data quality and model performance.
  • Identify and communicate financial model deficiencies to model owners and senior management.
  • Develop and maintain documentation templates and testing packages to streamline validation processes.
  • Create automation tools and scripts to enhance model validation efficiency.

Benefits

  • Eligible for an annual discretionary incentive award.
  • Hybrid work arrangement allowing flexibility between home and office.
  • Access to a competitive portfolio of benefits available to employees.
Full Job Description


Role Objectives

  • Conduct end-to-end validations and review of BSA/AML/Fraud models utilizing languages and software including SQL, Python/R and Hadoop. Perform assessment on financial model risk based on conceptual soundness, data quality, model/scenarios design, model usage, model implementation, model performance, model control, and ongoing performance monitoring.
  • Identify financial model deficiencies through validations, communicate issues with model owners and senior management, and provide feasible and adequate recommendations.
  • Develop and maintain documentation templates, testing packages and automation tools and scripts to standardize validation processes.


Hybrid remote work permitted.

Qualifications and Skills

  • Master's degree in financial engineering, mathematics or a related field plus 3 years of experience.
  • Special skills: advanced data science & financial data engineering (cleanse/parse/restructure/validate); advanced programming languages, including SQL and Python or R, for statistical analysis, data manipulation, and independent model replication testing; statistical testing methodologies, machine learning techniques, data segmentation methods, and stress and sensitivity analysis; model risk management frameworks, including regulatory guidance such as SR 11 7, and the ability to apply documentation standards for model development, validation, and governance; and strong understanding of the financial services industry and business lines.
  • The required skill set does not need to be maintained over the full term of the required experience.


The role is eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

For benefit information, please see the Careers page

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

Similar Jobs

Ad banner background

Get Ready For Your
Next Interview

More Jobs at Sumitomo Mitsui Financial Group, Inc.

More Finance & Insurance Jobs

Find similar Associate, Model Risk jobs:

NationwideJersey City, NJ