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 Rail Services LLC, Manufacturers Bank, 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 $191,000.00 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.

Role Description

SMBC is seeking a Technical Accounting resource for SMBC NY Branch, SMBC Americas Holdings, Inc. and its U.S. subsidiaries (including a broker dealer, lessor entities, swap dealer, commercial bank, etc.) responsible for:

• Providing advice and issuing policy guidelines on technical accounting matters for New York Branch, Cayman Branch, Bank Holding Company and its subsidiaries.

• Researching questions related to existing guidance, tracking emerging accounting guidance, implementing new accounting standards, supporting discussion of local accounting policy issues with internal /external auditors, as well as reviewing financial statements and disclosures for entities under the combined US operations and their subsidiaries.

• Reporting to Executive Director, Head of Regulatory and Accounting Policy as a single contributor with project management responsibilities.

• Role is responsible for research, analyses, writing, and dissemination of information in accordance with prescribed U.S. GAAP and IFRS. Primary focus is the delivery of defined outputs, while at the same time developing knowledge of the broader context in which work is performed.

Responsibilities

• Prepare or review & update U.S. GAAP & IFRS accounting policies

• Perform independent accounting Research for appropriate accounting treatment

• Transaction Review & Accounting Analysis on new products and complex transactions

• Emerging Guidance Tracking

• Implementation of new accounting standard updates under both US GAAP & IFRS

• Provide training to internal stakeholders

• Financial Statement Review

• Fully knowledgeable on typical transactions and requires input only on very complex transactions or issues

• Work independently, but work is reviewed, and approval is required by the next level of management

• Attend Industry Meetings / Conferences

Qualifications and Skills

• CPA (or equivalent), with at least 15 years of public and private accounting experience in financial services working on investment securities, loans, leases and derivatives

• A minimum of 5 years of accounting policy experience at a financial services organization or 5 years of public accounting experience (accounting advisory or on call experience is preferred)

• Expertise of U.S. GAAP and knowledge of IFRS (Japanese GAAP is a plus but not required)

• Excellent research, analytical, business writing, and presentation skills

• Technical accounting knowledge required (e.g., derivatives, loans, credit impairment, income taxes, investments, consolidation, transfers of financial assets, guarantees, revenue recognition, leasing and fair value measurement)

Additional Requirements

D&I Commitment

Responsible for fostering a culture of diversity and inclusion, holding leaders accountable for creating an inclusive environment through awareness and practice of equity in recruiting, developing, and promoting diverse talent.

SMBC’s employees participate in a hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process.

We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.