Regulatory Reporting QA Associate

SMBC Group is a top-tier global financial group headquartered in Tokyo with a 400-year history, offering a diverse range of financial services including banking, leasing, securities, credit cards, and consumer finance. The Group operates over 130 offices and employs 80,000 people worldwide across nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) serves as the holding company and is one of Japan’s three largest banking groups, with shares traded on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges. In the Americas, SMBC Group maintains a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru, providing commercial and investment banking services to corporate, institutional, and municipal clients.

About the role

Regulatory Reporting Quality Assurance (RRQA), within SMBC's Finance Control Oversight (FCO) function, conducts independent risk-based assessments of U.S. regulatory reporting processes to evaluate reporting accuracy, completeness, conformance with regulatory requirements, and effectiveness of related controls. The RRQA Associate supports the execution of RRQA assessments under the guidance of assessment leads and Directors. The role provides opportunities to develop expertise in U.S. regulatory reporting requirements, banking products, and risk-based assessment methodologies.

Responsibilities

• Assist with assessment planning activities, including preliminary analysis to understand regulatory report production, data sourcing processes, and associated risks and controls.
• Perform walkthroughs, assess risks, profile data, select samples, and conduct data analysis in accordance with RRQA methodology and FCO Standards.
• Execute testing procedures to evaluate internal control effectiveness, reporting logic conformance, and transaction-level data accuracy.
• Prepare clear and comprehensive workpapers documenting testing procedures, assumptions, observations, supporting evidence, and conclusions, following FCO Standards.
• Perform follow-up testing to assess the effectiveness of remediation actions for previously identified issues and document validation results.
• Support continuous monitoring activities by analyzing regulatory reporting developments, risk indicators, organizational changes, and issue trends.
• Assist in identifying emerging risks that may impact future assessment planning.
• Collaborate with business partners to obtain documentation, understand processes, and discuss testing results.
• Communicate testing observations and information requests professionally and effectively.
• Build knowledge of U.S. regulatory reports, banking products, data flows, and regulatory reporting requirements.
• Participate in training and continuous learning opportunities to enhance technical and regulatory expertise.

Requirements

• Bachelor’s degree in accounting, finance, business analytics, information systems, or a related field.
• 3+ years of experience in audit, internal controls testing, regulatory reporting, risk management, or a related discipline.
• Basic understanding of U.S. regulatory reporting requirements and banking products (loans, deposits, derivatives, securities) preferred.
• Strong analytical, critical thinking, and problem-solving skills.
• Strong written and verbal communication skills, with the ability to clearly document work and communicate findings.
• Familiarity with data governance, data quality concepts, and regulatory reporting processes is a plus.
• Proficiency in Microsoft Office applications, including Excel, Word, and PowerPoint.
• Ability to manage multiple assignments, meet deadlines, and work effectively in a team environment.

Schedule

SMBC’s employees participate in a Hybrid workforce model, allowing work from home and the office. Employees must live within a reasonable commuting distance of their office location. Hybrid work may not be permitted for certain roles, including FINRA-registered positions requiring full-time in-office attendance.