Fraud Risk Management Analyst

About the position

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 (NYSE: SMFG) 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 $69,000.00 and $85,000.00. 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.

Responsibilities

• Support the 2nd Line Fraud Risk Director in performing oversight over the Fraud Risk Framework including 1st Line risk policies and procedures, the risk identification and assessment performed by the 1st LOD, the results of the 1st Line risk identification, assessment and mitigating activities such as RCSA and control testing
• Assist in review and challenge of 1st Line Fraud policies and execution of Fraud Risk methodology including establishment of risk appetite and related metrics, fraud risk assessment, assessment and implementation of mitigating controls, fraud monitoring procedures and fraud risk acceptance
• Assist in review and challenge of 1st Line policies to ensure the Fraud Risk Management program includes consideration of regulatory expectations and industry best practices
• Utilize 2nd LOD methodology to evaluate, monitor and review Fraud Risk Management framework and its effectiveness in identification of inherent and residual risk using Operational Risk Framework elements such as risk metrics, RCSA and testing
• Prepare assessments of the internal control environment by identifying control weaknesses and related action plans
• Monitor the risk status by reviewing the metrics and thresholds for risk tolerances, limits and guidelines and KRI, continues monitoring of these metrics and review and challenge of breaches and remediation actions
• Interact with the business to assess new emerging issues and review and challenge mitigation plans
• Review fraud incident management reports, underlying root cause analysis, remediation action plans and their execution
• Support 2nd LOD oversight over fraud issue remediation, action plan tracking and risk acceptances
• Participate in New Product reviews and ensure vendor risks arising from new products and/or business, migrations, etc. are properly considered
• Participate in the remediation of audit findings
• Escalate control weaknesses, metrics breaches and incidents to the Director of Fraud Risk Management

Requirements

• 0-3 years of direct work experience related to Fraud Risk, Audit or investigations in the financial services industry
• Knowledge of commercial and retail banking products and their associated fraud risks
• Strong written and verbal communication skills
• Bachelor's degree in accounting, finance or related field
• Fraud Risk Management Certification or CFE is a plus