The Regulatory Officer works with the Regulatory Change Management Team within SMBC's Planning Department as a Subject Matter Expert to assist with identification of regulatory change applicability of new or changes to existing laws, rules, regulations or material regulatory guidance and matters related to overseeing timely implementation for SMBC.
The Regulatory Officer role works with departments across SMBC Americas Division to coordinate Regulatory Change Management Group matters. As a member of the Regulatory Change Management team, the Regulatory Officer II will work in the capacity of a subject matter expert who will be responsible for identifying, analyzing, and overseeing the timely implementation of new or changes to existing laws, rules, regulations or material regulatory guidance (regulatory changes). Their primary duties include covering applicability analysis, preliminary impact assessment, routing, action plan tracking and policy and procedure maintenance. They would also participate in the preparation of key metrics to evaluate the health and governance of RCM initiative. They will have significant exposure and correspondence with the stakeholder SMEs across the bank and will report to the Director of Regulatory Change Management within the Planning Department, Americas Division (PDAD) Regulatory & Governance.
Daily execution of the centralized Regulatory Change Management (RCM) function to ensure:
1 Timely review and initial analysis of alerts issued by various regulatory authorities (e.g. legislative bodies; departments; administrative agencies; and self-regulatory organizations) to determine applicability and potential impact to the SMBC US Operations 2 Articulate the rationale for applicability and potential organizational impact with a level of accuracy suitable for internal stakeholder and external regulatory reviews 3 Timely and effective communication with internal stakeholders to confirm applicability and develop further understanding of the impact a given regulatory change may have on activities of the firm 4 Continued awareness of new and key regulatory developments, to include development of reporting and, educational material as and when required 5 Ongoing support of regulatory projects by providing subject matter expertise 6 Contribute to the enhancement and maintenance of policy and procedures of RCM activities as appropriate 7 Support RCM governance process by helping in the preparation of key metrics and management information required to ensure appropriate internal and external reporting, 8 Participate in the ongoing development and maintenance of the centralized RCM RegTech tool, repository for regulatory change management, underlying taxonomy and change methodology 9 Ensure there is a collaborative and coordinated approach to all related work to drive a sustainable and holistic RCM function supported by the use of a RCM Regtech tool
1 Bachelor’s degree or equivalent required. Graduate business degree or J.D. Degree preferred 2 Former regulator, compliance, and/or attorney/legal background. Established relationships with industry and regulators preferred. 3 Comprehensive knowledge of regulatory environment, including demonstrated knowledge of federal and state banking laws and regulations (e.g., Federal Reserve Bank, NYDFS, FDIC, OCC, CFTC, NFA, FINRA, SEC, MSRB)
4 Experience working with regulators, specialized regulatory consulting firms or law firms 5 Experience in analyzing and interpreting laws, rules, regulations and regulatory guidance related to bank holding companies and foreign banking organizations in the US, as well as their related business impacts 6 Understanding of large and complex financial institutions, and their functions, including Risk Management, Compliance, Legal and Operations. 7 Strong organization and time management skills, with attention to detail. 8 Proven track record of managing high priority items in high pressure environments 9 Advanced project management skills (including identification, tracking, reporting and analysis) experience in leading and program managing end-to end regulatory change management programs 10 Excellent communication, analytical and writing skills. Strategic thinker; Team player and ability to work collaboratively.
Work Experience: 7 to 10 years of specialized experience in Financial Services 7+ years of experience within Banking or Financial Services Regulatory Compliance, Governance, Legal, or related department, preferably with a foreign banking institution (FBO/IHC/BHC) doing business in the U.S.