Website SMBC
Location: New York, New York
Overview: This position sits within the Enterprise Risk Management of SMBC’s Risk Management Department, which is the 2nd line of defense independent risk management function for the bank. As a Sustainability and Climate Risk Management Vice President, you will play an important role in the buildout of SMBC AD’s Sustainability and Climate Risk management program. This program supports the bank in its decarbonization transition and to measure and embed sustainability and climate risk considerations throughout the business and risk management. You will support bank’s climate-related financial risk regulatory reporting and disclosure to meet Federal & State regulatory expectations. You will work with leaders across risk disciplines and business units to develop climate-related financial risk management methodologies and analytic tools. You will also help advise senior leaders in Risk, Business, and Regulatory Compliance functions on the operation of their businesses in a manner consistent to SMBC’s climate policies, targets, and goals. Additionally, the role will involve close partnership with the firm’s Technology functions to develop and implement the required systems and processes to support achieving the goal of climate change into all business areas.
Roles/Responsibilities:
Climate -related Financial Risk Management Strategy:
- Develop and execute the bank’s strategy for climate-related financial risk assessment and analytics.
Regulatory Compliance & Reporting:
- Partner with relevant corporate functions, e.g. regulatory reporting, legal, compliance, sustainability, risk verticals, to prepare climate-related financial risk reporting and disclosure under Federal & State regulatory guidelines.
- Analyze and understand relevant regulations and best practices related to climate-related financial risk. Perform regulatory gap analysis of emerging regulatory expectations.
- Develop remediation strategies, implement changes, monitor progress, and regularly review relevant procedures to address potential future regulatory gaps.
Risk Management:
- Utilize data-driven research and analysis to identify, assess, and quantify the financial risks associated with climate change, including physical and transition risks.
- Collaborate with senior management to integrate climate risk into the bank’s overall risk management framework, including integration into credit, liquidity, operational and market risk, etc.
- Support development of climate-related financial risk appetites including RAS, risk indicators and limits.
- Support development of climate risk materiality matrix.
- Highly proficient in climate scenario analysis and stress testing, good understanding of models, scenario analysis and stress testing processes in each risk stripe such as credit, liquidity, operational and market risk.
- Collaborate with risk verticals to ensure climate-related financial risk management strategies are effective and up-to-date.
Data:
- Oversee the collection, processing, and analysis of climate-related data.
- Ensure the integration of climate data with existing financial and risk data systems.
Stakeholder Engagement:
- Collaborate with internal teams, including credit risk, liquidity risk, operational risk, market risk, and sustainability team, to align climate-related financial risk management efforts.
- Engage with external stakeholders, including regulators, investors, and industry groups, on climate risk issues.
Continuous Improvement:
- Stay informed of the latest developments in climate science, financial risk management, and regulatory requirements.
- Drive continuous improvement in climate-related financial risk modelling methodologies and processes.
- Foster a culture of innovation and excellence within the Sustainability and Climate Risk Management team.
Qualifications:
- Education:
- Master’s or Ph.D. in Finance, Economics, Environmental Science, Climate Science, or other quantitative fields. BA/BS with 5+ years’ direct climate-related financial risk management and reporting experience will also be considered.
- Experience:
- Minimum of 3+ years direct experience in climate-related financial risk management and reporting.
- Significant expertise and strong track record in climate-related financial risk presentations, reporting and relevant document preparation.
- In-depth knowledge of climate risk factors, financial markets, and regulatory requirements.
- Hands-on experience in climate scenario analysis and stress testing.
- Understanding models, scenario analysis and stress testing processes in each risk stripe such as credit, liquidity, operational, and market risk.
- Good understanding of usage of climate scenario analysis in business applications and its integration into various risk categories such as credit, liquidity, etc.
- Experience in climate-related financial risk appetite metrics.
To apply for this job please visit careers.smbcgroup.com.