Director, Head of Treasury

Role Description

The Head of Treasury oversees and directs the operations of the Treasury department to support the Bank in meeting its financial goals and budget targets. He/she must manage treasury positions in Foreign Exchange, Money Market, FX Derivatives and Capital Market activities in line with the long-term goals of the Bank and ensure compliance with standard accounting procedures, regulatory expectations, and the Bank’s internal liquidity and funding management framework. The Canada Branch Treasurer must be knowledgeable and adept at handling large financial transactions as this position plays a vital role in interfacing large and sophisticated counterparties.

Job Description

• Subject matter expert in anticipating market volatility, liquidity, government bonds, notes etc.
• Direct and execute foreign exchange, money market, derivative and capital market activities to meet customer requirements and mitigate the Bank’s exposure to volatile market movements.
• Proficiency in derivative products such as Interest Rate Swaps, Cross Currency Swaps and Currency Options, to support the corporate customer base and to hedge the Bank’s exposure.
• Manage daily cash balances and trading in financial markets to ensure that the Bank’s cash flow is adequate to operate efficiently, make prudent cash flow forecasts and anticipate challenges from changes in market sentiment especially towards foreign banks.
• Diversify funding sources through corporate and interbank deposits and issuance of treasury funding products such as short term and medium term bank deposit notes, to provide adequate funding to fund loan assets, manage money gap and maintain internal liquidity requirements.
• Familiarity in surplus liquidity management namely Treasury Bills, Government and Provincial Bonds, Reverse Repos and any other securities approved by the Management for supplementary liquidity purposes.
• Manage Bank’s FX exposure in all approved currencies, prudently and within established guidelines and policies to enhance Bank’s profitability in liaison with Business Promotions and the Management, formulate corporate and interbank marketing strategies to maintain positive working relationships. Attend meetings with Corporate Banking to make economic and technical analysis presentations, when necessary, to enhance the Bank’s share of business.
• Liaise with Corporate treasury team in other jurisdictions namely New York, Tokyo.
• Collaborate with CRO and CCO in maturing the Branch’s over framework for liquidity and funding risk management including developing a strategy for effective balance sheet management, forecasting and planning liquidity and funding needs to meet the Branch’s ability to execute on its core strategy and lending commitments.
• Act as Co-secretary to the Branch ALCO and present the Balance Sheet position including outlook at the committee meeting and to Senior management on a periodic basis.
• Responsible for maintaining all requisite Treasury related Polices and Procedure documents.
• Responsible to hire, train and delegate duties to Treasury personnel and oversee the day–to–day operations of the Treasury department including reviewing and managing trading limits and book level access of individual traders / dealers.
• Ensure compliance with all Treasury position limits, profit & loss limits, approved inter-bank and corporate credit limits and anti-money laundering regulations.
  
  

Responsibility For Supervision

• Supervises a team of dealers (approx.4 - 5 FTEs). Trains staff to enable them to achieve professional treasury dealing status.
• Average daily volume of transactions: FX - 20 – 30 transactions, MM – 30 – 50 transactions
  
  

Decision Making Responsibility

• Approve all FX and Deposit / loan transactions from Business Promotions along with FX, Deposit, Bank Deposit Notes, T-Bills and Loan transactions done in Treasury, to ensure compliance with approved credit and trading limits.
• Makes decisions regarding trading positions, initiating new positions to enhance profitability, switching credit lines, increase/decrease dealing activities, developing and implementing new and existing treasury policies, promoting existing and new products.
  
  

Qualifications And Skills

• An Undergraduate degree in business, Economics, or other related subjects is a “must.”
• 10 years previous professional dealing experience in Canadian financial services.
• Good understanding and working knowledge of money market, FX, Capital Markets, Economics and analysis of markets and trends.
• Use of Reuters 3000 Dealing System, Microsoft Office, above average Excel skills.
• Ability to learn proprietary dealing applications (FOX, OBS) and other in-house applications as required.
• Strong reasoning ability: understand complex situations, people and systems needs against backdrop of an evolving regulatory environment.
• Strong analytical and communication skills. Excellent writing skills is an asset. Able to learn quickly and dissect complicated issues within a large financial institution, Reasonable knowledge of Bank Act and OSFI guidelines.
• Excellent time management skills with the ability to multitask, continuously prioritize tasks.
• Able to work independently on projects and tasks. Self-motivated and action-oriented; adaptable to changes arising from Branch and SMBC-wide transformation.
• Knowledge and understanding of foreign banks in general are desirable.
  
  

Competencies

Customer Focus -- Challenges assumptions about customers and questions how they impact the business. Pioneers new ways to reach existing and new customer groups for SMBC, proactively monitoring if customer needs have changed. Ensures the delivery of effective customer services. Liaises with other Relationship Managers across SMBC Canada Branch to ensure that customers are aware of the full slate of SMBC products and services.

Driving Change -- Ensures that all departmental employees can articulate the strategic context and drivers for change; what it means to them and SMBC customers. Challenges the status quo. Builds a Canada branch treasury operation that is resilient, agile, and adapts quickly to changing market and regulatory conditions. Liaises across SMBC Americas to identify obstacles and collaborate on change solutions. Models positive behaviors and expectations to drive change.

Working Conditions

Time pressure/deadlines -- Significant

Attention to details -- Significant

Environment -- Open office floorplan / Hybrid Work Model

Employees participate in a hybrid workforce model that provides them with an opportunity to work from home as well as Canada Branch’s Toronto downtown office. SMBC requires that employees live within a reasonable commuting distance of their office location

About SMBC

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.

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 [email protected] .

SMBC is an EO employer – M/F/Veteran/Disability