Director of Regulatory Policy

Regulatory Policy Director

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG's shares trade on the Tokyo, Nagoya, and New York stock exchanges. In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization's extensive global network. The Group's operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd. The anticipated salary range for this role is between $180,000.00 and $230,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

As a Regulatory Policy Director at SMBC you will be the authoritative source on the application and interpretation of prudential regulatory requirements (capital, RWA, leverage, large exposures & liquidity). You will work within the Accounting and Regulatory Policy team, collaborating closely with key stakeholders including Regulatory Reporting, Treasury, Business Units, and the Head Office in Japan. You will have opportunities to engage with senior leadership, presenting regulatory interpretations and judgments for approval, and working with business units to evaluate the impact of new products or specific transactions. The ideal candidate will have strong knowledge of U.S. GAAP, U.S. Regulatory Rules as well as the BCBS Regulatory Rules, with a proven record of interpreting regulatory rule requirements, and their applicability to the local business. Ideally, the candidate will have experience working with a regulator, lobbying body, or in a similar role within another banking organization. The candidate will have excellent verbal and written communication skills, be comfortable communicating with colleagues both within and outside the team and have an ability to influence senior levels.

The Regulatory Policy Director will mainly support regulatory reporting stakeholders by providing regulatory reporting advice, issuing policy interpretation and guidelines on technical regulatory issues involving our New York Branch, Bank Holding Company, broker / dealer, swap dealer and other affiliates. This role will report to the Head of Accounting & Regulatory Policy. This is a hybrid role, currently requiring in-office presence twice per week.

Responsibilities

Policy Issuance & Advocacy

Develop and maintain regulatory reporting policies by drafting, reviewing, analyzing, and presenting key rules and interpretations.

Assess the need for new policies in response to evolving regulations, including Basel III Endgame.

Provide technical expertise to draft comment letters on proposed regulatory changes.

Engage with regulatory bodies such as the Federal Reserve, FINRA, NFA, and FDIC on technical reporting matters.

Participate in industry forums to discuss capital, liquidity, and other regulatory topics.

Technical Advisory & Product Analysis

Advise stakeholders on regulatory policy issues, product analysis, and application of reporting requirements, documenting inquiries and responses with detailed rationale.

Demonstrate deep technical knowledge of U.S. regulatory rules, including capital requirements across banking, broker / dealer, and swap dealer entities.

Review and challenge data across key regulatory reports such as FR Y-9C, FFIEC 002, FR 2052a, FR Y-15, FR Y-14, and FOCUS reports.

Assess regulatory reporting and capital impacts of new products and complex transactions under U.S. Basel and BCBS frameworks.

Change Management & Implementation

Advocate for and support the implementation of new regulatory reporting requirements, ensuring alignment with evolving rules.

Collaborate with regulatory stakeholders to implement changes related to Basel III Endgame and business growth, including additional FR Y-14 reports.

Lead and contribute to large-scale, cross-functional projects to enhance regulatory compliance infrastructure.

Develop and deliver training materials on U.S. regulatory reporting obligations to build firm-wide awareness and expertise.

Ensure governance and control standards are met for regulatory capital adequacy and liquidity models.

Qualifications and Skills

Bachelors degree (preferably in Finance, Accounting or Business).

10 years of regulatory reporting, or policy advisory experience (preferred) in the banking industry.

Strong research skills, analytical skills, business writing and presentation skills.

Strong knowledge of regulatory capital requirements, including Credit Risk and Market Risk, net capital calculation.

Good communication skills, both written and oral, to discuss relevant and complex topics with senior management or key stakeholders.

Good understanding of US GAAP, US regulatory rules, as well as BCBS regulatory rules.

Knowledge of JFSA capital rules is a plus.